NE BUSINESS BUREAU
AHMEDABAD, NOV 3
Hero MotoCorp has set a new record for most units sold in a single month after over 8 lakh units were sold in October. The company reported year-on-year growth of 35 percent after selling 8,06,848 units as against the 5,99,248 units that it sold in the same month last year, a company release said.
In a recent major development, American cruiser motorcycle maker Harley-Davidson and India’s Hero MotoCorp, announced a partnership for the Indian market.
A positive turnaround in customer sentiments – particularly for motorcycles across markets, continued government policy support, and a credible resumption of the supply chain, logistics, and business operations have enabled the company to achieve record numbers during the auspicious festive period.
With the higher dispatches during the month, the company customer touchpoints across the country now have adequate inventories in line with market demand in the ongoing festival period.
The company has also registered significant gains in market share in the second quarter (July-September) across product categories and geographies and expect to further build on this momentum going ahead.
Strengthening of Leadership Team
In October, Hero MotoCorp appointed Air Chief Marshal (Retd.) BS Dhanoa as a Non-Executive and Independent Director on the Board of the Company. Sanjay Bhan returned to Hero MotoCorp as Head of Global Business (GB) and will play a key role in the rapid expansion and consolidation of Hero in the international markets while Malo Le Masson assumed the responsibility of Head of Strategy.
| Oct’20 | Oct’19 | YTD FY’21 | YTD FY’20 | |
| Motorcycles | 732498 | 552672 | 2939553 | 3827707 |
| Scooters | 74350 | 46576 | 245246 | 305881 |
| Total | 806848 | 599248 | 3184799 | 4133588 |
| Domestic | 791137 | 586988 | 3102391 | 4028505 |
| Exports | 15711 | 12260 | 82408 | 105083 |
