Hero MotoCorp's October sales up 18 percent
Two-wheeler major Hero MotoCorp Friday reported its highest sales mark for a month in October at 625,420 units, a growth of 18.17 percent from 529,215 units despatched during the corresponding month of last year.
"This sales momentum has been helped by our star brands Splendor and Passion and also by the new products,"said Anil Dua, senior vice-president, marketing and sales, Hero MotoCorp, said in a statement.
According to the company, it expects healthy sales during the upcoming festive season and that it has the capacity to meet the extra demand during the season.
“Our factories have been working to capacity to meet the added demand in this festive season. With Dhanteras and Diwali in November, we are prepared to maintain this retail momentum going forward," Dua said.
"Thanks to an improved market sentiment and our 15 new offerings lined-up for a phase-wise launch in the coming months, we are planning to bring even more excitement to the marketplace."
In October, the company showcased 15 new models which feature latest innovative technology developed in-house by the two-wheeler manufacturer like i3S technology (idle stop and start system) which shuts the engine when idling and turns it on when needed.
Other innovative features which will appear in some new models include integrated braking system (IBS) for which the company has already filed for patent. The company will also file product featuring electronic immobiliser security device.
The two-wheeler manufacturer is trying to spur up its in-house technology development at its research and development (R&D) centre and has also tied up with three international companies for technology alliances.
Hero MotoCorp can use erstwhile partner Honda's technology inputs till 2014. Both the companies ended there 27-year-old joint venture two years ago.
The company's scrip at the Bombay Stock Exchange was trading 1.23 percent or 25.45 points up at Rs.2,102.55 around 2.30 p.m. Friday from its previous close of Rs.2,077.10 Thursday.
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