As the auto industry is gradually recovering from the clutches of the novel coronavirus pandemic, Hero MotoCorp posted its highest-ever monthly sales in October 2020. The world's largest two-wheeler maker reported a total sale (domestic + exports) of 8,06,848 units last month, recording a double-digit growth of 35 per cent. The company retailed 514,509 units in the corresponding month the previous year. The brand registered significant gains in market share in the second quarter across product categories and geographies. In September 2020, the company had sold 715,718 units recording its highest monthly sales in this year and has surpassed these numbers last month.
Hero MotoCorp's domestic sales for October 2020 increased by 34.7 per cent with 791,137 units sold, as against 586,998 units sold in October last year. Exports for the company, however, did see a significant growth of 28.14 per cent in overall volumes. Hero shipped 15,711 two-wheelers last month, as against 12,260 units a year before.
For motorcycles, Hero's sales in October 2020 stood at 732,498 units, seeing growth of 32.53 per cent over the same period last year. Meanwhile, scooter sales stood at 74,350 units last month witnessing an uptick of 59.63 per cent, as compared to 46,576 units sold in October 2019.
As far as the YTD figures are concerned, Hero sold 29,39,553 motorcycles and 245,246 scooters between April-October 2020. There is a drop of 23.21 per cent and 19.82 per cent respectively over 3,827,707 motorcycles and 305,881 scooters sold between April-October 2019.
The two-wheeler manufacturer witnessed positive customer sentiments,especially for motorcycles during the festive season. The company managed to achieve these record numbers because of continued government policy support and a credible resumption of supply chain, logistics and business operations, it said. Also, the customer touchpoints across the country now have sufficient inventories which is in line with the market demand that will be adequate for the ongoing festive period.