The sales of Hero MotoCorp went down by 4.8% year on year, in the month of October. However, the company has sold over 6 lakh units for the sixth consecutive month.
The Indian two-wheeler manufacturer sold 631,105 units in October, against 663,153 units in the same period last year. The company sold a record 2 million units in July-September, growing its business by 10.9%. The net revenue growth stands at 11.5%; EBIDTA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin of 17.4%, and PAT (Profit After Tax) of INR 1,010 crore. Ashok Bhasin, Head of Sales, Marketing and Customer Care, Hero MotoCorp, said:
Achieving 2 million two-wheeler retail sales in this year's festive season is a new benchmark and is a matter of immense pride for us. This landmark accomplishment once again highlights the tremendous faith that our consumers repose in brand Hero both for Motorcycles and Scooters. It is also the result of our very effective 360-degree "Go-to-Market" initiatives. There has been good improvement in the consumer sentiments in both the rural and urban markets and we are confident of carrying forward our sales momentum into the months ahead.
Hero MotoCorp achieved over three lakh unit sales on the day of Dhanteras. The brand sold over 7.2 lakh two wheelers in September, and clocked 75 million cumulative sales in the same month. The Indian company is reportedly planning to launch a 125cc scooter with classic design lines; and will be launching the XTreme 200S this financial year.