Making a stellar recovery, Hero MotoCorp retailed over 14 lakh two-wheelers in the country during the 32 days of the festive period. The festive period was spread between the first day of Navratra and the concluding day after Bhai Duj. The company says that the volumes retailed this year were 98 per cent of the festive season volumes sold in 2019, and 103 per cent compared to the same period in 2018. Hero says the overwhelming demand has helped reduce the vehicle stocks at its dealerships to less than four weeks, the lowest post-festive inventory recorded by the company.
Hero's entry-level commuter offerings remained its highest-selling models including the 100+ cc Splendor+ and HF Deluxe, 125 cc Glamour and Super Splendor, while premium offerings like Xtreme 160R and the XPulse 200 also commanded good volumes. The Hero Glamour BS6 continued to gain volumes in new markets. Hero's Destini and Pleasure scooters also registered double-digit growth during the festive season.
Hero MotoCorp has managed to lead the revival of the two-wheeler sector after the lockdown restrictions were eased in May this year. The brand's market share grew by more than 500 bps in October. Hero says the company, along with its dealer partners and a robust supply-chain under the brand's ecosystem, managed to make an incredible recovery despite the disruptions due to the lockdown.
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Hero MotoCorp is optimistic that the COVID-19 vaccines will enable faster rebound of the global economy in the coming months. The International Monetary Fund (IMF) projects double-digit growth in FY2022 for the Indian economy that will boost consumer sentiments at large, and the company is optimistic about the two-wheeler sector as well.