Hero MotoCorp's July sales up marginally

Two-wheeler major Hero MotoCorp Thursday reported a marginal increase of 0.68 percent in its sales for July, which stood at 487,545 units from an off-take of 484,217 units sold in the corresponding month of 2012.

The company said it has bucked the trend of an overall slowdown in the industry by this performance.

"We have registered a retail growth of seven percent in the month of July which is usually a lean period due to monsoon all over the country," Anil Dua, senior vice-president, marketing and sales, Hero MotoCorp, said in a statement.

"We are hopeful of sustaining this positive momentum in the coming months as we gear up for the festive season which would see a slew of launches from us."

The company has launched operations in new international markets such as Kenya, Burkina Faso and Ivory Coast in Africa in the month under review. The company also set up its first international assembly unit in Kenya.

"In terms of new international markets, Peru in Latin America is going to be our next port of call where we will commence our operation in August," Dua added.

In the month under review, the company had also announced an investment of $25 million for a total stake of 49.2 percent in the US-based motorcycle partner Erik Buell Racing (EBR).