Hero MotoCorp Celebrates Record Festive Sales
Hero MotoCorp, a leading two-wheeler manufacturer, announced its highest-ever retail sales during the recent festive period starting from Navratri. The company sold over 1.6 million units, marking a 13% growth compared to the previous year. This success is attributed to strong demand in both urban and rural areas of India.
Key Growth Drivers
The 125cc motorcycle segment, particularly the Xtreme 125R, played a significant role in driving sales. Additionally, the 100cc segment also contributed positively. Hero MotoCorp’s electric vehicle brand, VIDA, achieved a milestone with 11,600 retail sales, while the Harley-Davidson X440 sold over 2,800 units.
Future Plans
Hero MotoCorp plans to expand its Premia network to over 100 locations by the end of the fiscal year to enhance brand reach and accessibility. Niranjan Gupta, CEO of Hero MotoCorp, expressed optimism about continued sales momentum for the rest of the year.
Industry Comparison
In contrast, Bajaj Automobiles reported an 8% decline in domestic two-wheeler sales in October, with 255,909 units sold. However, their overall sales, including exports, grew by 2% year-on-year, with a notable 22% increase in exports.
Doubts Revealed
Hero MotoCorp -: Hero MotoCorp is a big company in India that makes two-wheelers like motorcycles and scooters. They are very popular and many people in India use their vehicles.
Festive Sales -: Festive sales refer to the time during festivals like Diwali when people in India buy a lot of things, including vehicles. Companies often offer special deals during this time.
1.6 Million Units -: 1.6 million units mean that Hero MotoCorp sold 1.6 million motorcycles and scooters during the festive season. That’s a very large number of vehicles!
Xtreme 125R -: The Xtreme 125R is a model of motorcycle made by Hero MotoCorp. It is popular for its style and performance.
VIDA electric vehicles -: VIDA electric vehicles are a type of vehicle made by Hero MotoCorp that run on electricity instead of petrol. They are better for the environment.
Premia network -: The Premia network is a special group of Hero MotoCorp showrooms that offer premium services and products. They plan to have more than 100 of these showrooms.
Niranjan Gupta -: Niranjan Gupta is the CEO of Hero MotoCorp. A CEO is the person who makes important decisions for the company.
Bajaj Automobiles -: Bajaj Automobiles is another big company in India that makes two-wheelers and three-wheelers. They are a competitor of Hero MotoCorp.
Exports -: Exports are goods that are sold to other countries. Bajaj Automobiles sold more vehicles to other countries, which helped them grow overall.
