Chairman and MD Pawan Munjal
Two-wheeler maker Hero Motocorp is eying double digit sales growth this festive season, boosted by a few new launches. Mapping out a broad path that the company expects to follow over the next few months, Chairman and MD Pawan Munjal said on Tuesday that the firm would introduce new 125cc scooters and the Xtreme 200R motorcycle to the market by October. Munjal was addressing the company’s shareholders at its annual general meeting.
Munjal went on to say that with the company’s robust start to the year so far, with an all-time high quarterly sales performance recorded in the first quarter, he was confident they would sustain momentum.
“We are confident of carrying the growth trajectory forward through the festive season as well,” he said. Prospects for the company look better this year if a normal monsoon yields a good harvest, with the new launches set to enhance the firm’s portfolio right in time for the festive season. “We will gradually build on our premium portfolio with a range of new products. One such differentiated product will be the Xpulse 200,” Munjal noted, adding “we expect to grow at double-digit in the upcoming festive season”.
“The normal monsoon in most parts of the country, and the consequent agricultural harvest will keep the sentiments buoyant and help maintain our momentum,” he added. Hero MotoCorp has already introduced the Xtreme 200R in the North-Eastern markets, while another premium motorcycle from Hero’s stables set to roll out this year is the XPulse 200 adventure motorcycle. The company had showcased the XPulse motorcycle and the 125cc scooters at the Auto Expo in February this year. On the company’s plans on electric vehicles (EVs), Munjal said: “We are currently working on a few projects at our R&D facility, the Centre of Innovation and Technology (CIT) in Jaipur, and will be launching these products in the market at an appropriate time.”