IAB Report – Hero Motocorp sets new annual sales record in 2013 selling 62.45 lakh units
Posted on: Apr 2, 2014 - 11:37am IST
Hero Motocorp has sold a total of 62,45,895 units in the fiscal year that ended on 31st March 2014, registering a total growth of 3 percent over its previous year when it had sold 60,75,583 units. This is a new annual sales record for the company.
The month of March alone saw the company selling 5,24,028 units, thereby recording a 11.9 percent growth over March 2013 when it had sold 4,68,283 units.
This financial year will see India’s largest two-wheeler manufacturer commission yet another plant, its fourth, in Neemrana, Rajasthan. This plant will mostly manufacture scooters, like the Maestro, that contribute heavily to the company’s sales. Initial capacity for this plant is set for 7,50,000 units per annum.
With sales of scooters exceeding 55,000 units per month, Hero Motocorp’s current capacities allow only for the manufacturing of 75,000 scooters each month. The Neemrana plant should boost production capacity substantially.
The company has begun construction on another manufacturing facility in Halol, Gujarat, and that is expected to be completed within a year as well. The Halol plant will get an initial capacity of 18 lakh units. Combined with the company’s three existing facilities and the upcoming Neemrana plant, by the end of 2017-18, Hero Motocorp’s total manufacturing capacity should touch 90 lakh units.