Hero MotoCorp records highest monthly sales in October

Two-wheeler manufacturer Hero MotoCorp on Tuesday said it achieved its highest monthly sales so far during last month.

The company's off-take during last month grew by 11.25% to 639,802 units from 575,056 units sold during the like period of last year.

According to the company, its previous highest sales in any month was recorded in October 2013, when it sold 625,420 units.

During September, the company had reported a marginal up-tick of 0.44% in its monthly sales to 606,744 units.

The two-wheeler manufacturer sold over 108,000 units of scooters during the month under review.

Hero MotoCorp's scooter sales in the domestic market grew by 74.6% in October over the corresponding month in 2014.

The company's market share in the domestic scooter segment has risen from 13% in September to almost 20% at the end of October.

"The highlight of October has clearly been the overwhelming success of the company's newly-expanded scooter range -- Maestro, Pleasure, Maestro Edge and Duet," the company said in a statement.

"The success of the scooters, coupled with its over 52% share in motorcycles, Hero MotoCorp has further strengthened its overall leadership in the two-wheeler market."

Hero MotoCorp is the only Indian two-wheeler manufacturer to have exceeded the six lakh-plus monthly sales-mark.

Earlier, the company had achieved the six-lakh sales mark on four previous occasions -- September 2015 (606,744 units), September 2014 (604,052 units), May 2014 (602,481 units) and October 2013 (625,420 units).

Its scrip at the Bombay Stock Exchange (BSE) closed the day's trade up 1.21% at Rs.2,580 per equity share from its previous close of Rs.2,549.10 per equity share.