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Informist, Monday, Nov. 4, 2024

 

--Hero MotoCorp: Retail sales up 13% on year during 32-day festive period

--Hero MotoCorp: Sold 1.6 mln units during festive period starting Navratri

--Hero MotoCorp: Achieved highest-ever retail sales during festive period

 

MUMBAI – Hero MotoCorp Ltd. Monday said it sold 1.6 million units during the 32-day festive period that started with Navratri on Oct. 3. Retail sales during this period were up 13% on year, and were the highest-ever for the festive season in absolute terms, the company said in an exchange filing.

 

The 13% growth in sales was driven by sales of Xtreme 125R, a 125 cubic centimetre engine capacity motorcycle, the company said. The 100cc segment also contributed to the company's strong sales performance. The company said it sold 11,600 units of its electric vehicle brand VIDA during the same period. The company sold 2,800 units of Harley-Davidson X440.

 

"There has been good momentum and growth in most parts of the country with rural sales catching up with the urban segment in the latter half of the festive season. We expect the momentum to continue and are optimistic about the remainder of the year," Niranjan Gupta, chief executive officer of Hero MotoCorp, said.

 

Late Friday, the company had reported double-digit growth in despatches for October on the back of festival season demand from key urban and rural areas in the 100cc and 125cc segments. The company had despatched 679,091 units of motorcycles and scooters in October, up 18% from 574,930 units sold in the year-ago month.

 

The company had reported a net profit of INR 11.23 billion for the June quarter on revenues of INR 101.44 billion. At 1510 IST, shares of the company traded at INR 4,802.10 on the National Stock Exchange, down 4.4% from the previous close.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT.

 

Reported by Gopika Balasubramanium

Edited by Ashish Shirke

 

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