Hero MotoCorp reported its highest-ever festive sales in October, with a 13% year-on-year (YoY) growth. The company sold over 15.98 lakh units during this period, setting a new record. This strong performance highlights the continued demand for Hero's range of motorcycles and scooters during the festive season. The increase in sales reflects both the brand's market strength and the positive consumer sentiment in October. Hero MotoCorp's favourable sales figures indicate its ability to meet customer demand and remain a leading player in the Indian two-wheeler market, positioning the company well for continued growth in the coming months.
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Hero MotoCorp Sales Figures: October 2024
Hero MotoCorp has credited its strong sales performance to a surge in demand across urban and rural markets during the festive season, which is a peak period for vehicle sales in India. As mentioned before, the overall positive consumer sentiment played a significant role in driving these high numbers.
The company highlighted that the Xtreme 125R was a major contributor to growth in the 125cc segment, while the 100cc motorcycles also supported strong sales. Furthermore, the manufacturer's electric vehicle brand, VIDA, achieved a key milestone by selling 11,600 electric scooters during the festive period. In the premium segment, the X440, developed in collaboration with Harley-Davidson, performed well, with over 2,800 units sold, boosting Hero MotoCorp’s overall festive sales.
The expansion of the VIDA network, supported by Hero Premia and Hero 2.0 outlets, along with a focused push in the top 30 towns, is showing promising outcomes. The company also indicated that the upcoming product lineup will provide additional momentum for the brand. With plans to grow the Premia network to over 100 locations by the close of the fiscal year, Hero MotoCorp aims to improve the reach and availability of this brand, reinforcing its market presence.
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Commenting on the occasion, Niranjan Gupta, Chief Executive Officer, Hero MotoCorp said, 'For the second consecutive year we have achieved our highest-ever festive retail sales, which is a testament to Hero MotoCorp’s position as the preferred brand in India. 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.'
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