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Hero MotoCorp breaks festive sales record with over 1.4 mn units sold

Riding high on the success of the festival season, Hero MotoCorp has reduced its after-festival channel inventory to its lowest level in over three years

Hero MotoCorp

Anjali Singh

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Hero MotoCorp, the country’s largest two-wheeler maker, has achieved its highest-ever festival retail sales, surpassing the 1.4 million unit mark during the 32-day festival period. This reflects a 19 per cent growth compared to the previous year, marking a significant milestone for the company.

The festival period, spanning from the first day of Navratras to Bhai Dooj, witnessed demand across rural markets and steady retail offtake in key urban centres.

Hero MotoCorp’s performance exceeded its previous highest retail sales of 1.27 million units, achieved during the festival season of 2019.

Riding high on the success of the festival season, Hero MotoCorp has reduced its after-festival channel inventory to its lowest level in over three years.

Niranjan Gupta, chief executive officer of Hero MotoCorp, said, “Our strong portfolio of brands, scale of distribution, and new launches this year have contributed to driving this growth across geographies. The festival season is a clear testimony that rural areas are experiencing growth, which bodes well for the country in general and the two-wheeler industry in particular.”

Ranjivjit Singh, chief business officer of the India business unit at Hero MotoCorp, added, “The record retail number was achieved due to strong customer traction across markets, with good double-digit growth in the Central, North, South, and East Zones. Robust customer demand in rural markets, along with positive sentiments in key urban centres, drove this record retail sales.”

Hero MotoCorp launched the second edition of Hero GIFT (Grand Indian Festival of Trust). This programme, designed specifically for the festival period, featured new model refreshes, colour schemes, benefits, and finance schemes for customers.

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First Published: Nov 16 2023 | 3:57 PM IST

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