Two-Wheeler Sales October 2018: Hero MotoCorp Sells Over 7 Lakh Units For 2nd Consecutive Month

India's largest two-wheeler maker Hero MotoCorp managed to retail over seven lakh units for the second consecutive month in October this year. The company sold 734,667 units last month, witnessing a growth of 16.4 per cent, as opposed to 631,105 units in the same month during the previous fiscal. This is the fourth time in this financial year (2018-19) that Hero's sales have crossed the seven lakh sales mark. It was in September 2018 though that the company recorded its highest-ever monthly sales with 769,138 units sold.

Hero said that the company recorded strong growth despite a sub-par festive season thus far in the year. In contrast, rival Honda 2Wheelers India sold over five lakh units last month, growing over 12 per cent over the same period last year.

Citing issues regarding the sub-par sales during the festive season, Hero MotoCorp said that "the significant increase in insurance cost, followed by the associated confusion over the coverage amount and period in the matter of two-wheeler insurance. The company is looking forward to see sales improve this month on account of the festival of Diwali.

The previous month also saw Hero MotoCorp enter the 125 cc segment with the Destini 125 scooter. The all-new offering is priced between Rs. 54,650 and Rs. 57,500 (ex-showroom, Delhi). While bookings for the model have commenced, deliveries will begin only by the end of November or early December 2018.