Hero Honda sales up 24% in March

The country's largest two-wheeler maker Hero Honda today reported its highest ever sales for a month in March at 5,15,852 units, registering a jump of 24.41%.

The company had sold 4,14,638 units during the same month of last year, Hero Honda Motors (HHML) said in a statement.

For the entire 2010-11 fiscal, HHML crossed 50-lakh sales mark by dispatching a cumulative sales of 54,02,444 units as against 46,00,130 units in the previous fiscal, up 17.44%, it added.

"We are delighted with this year's sales performance, far surpassing our initial guidance of 5 million. Our growth rate is reflective of our strategic and marketing prowess, which has ensured our sustained market leadership," Hero Honda Motors Managing Director and CEO Pawan Munjal said.

In December last year, the Indian promoter of the two-wheeler maker, the BM Munjal family, had agreed to buyout the entire 26% stake of the Japanese promoter Honda in Hero Honda for Rs 3,841.83 crore.

"Hero Honda initiated strategic and structural changes this fiscal, which will begin to take effect in the near future. We are confident that our initiatives will allow us to build on our leadership position. We will actively look at exploring opportunities in newer markets, establishing a new brand identity and further enhancing our in-house resources," Munjal said.

During the last fiscal, the company had launched seven new models, including variants and refreshes, across various segments.