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Rural demand drives Hero MotoCorp sales of 4.5L units in June
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SME Times News Bureau | 01 Jul, 2020
Powered by growth from rural and semi-urban markets, Hero MotoCorp, the
world's largest two-wheeler manufacturer has made wholesale deliveries
of 4.50 lakh in June, which is 90 per cent of the pre-Covid levels.
Hero
MotoCorp said in a statement that it has led the revival of the
domestic two-wheeler sector in the month of June with wholesale
deliveries made to dealerships of over 450,744 units -- a record
sequential growth of four times over the 112,682 units dispatched in
May'20.
"Considering these are unusual and highly disrupted
times, it is appropriate and logical to compare the sales trajectory in
the sequential months, and not with the corresponding month of the
previous year", the company said. In June of last year, it sold 6.16
lakh two wheelers.
The company said the sales in the first
quarter of FY'21 was subdued due to the impact of COVID-19 and the
effects of the closure of the plant operations and the retail outlets
through the entire month of April and most of May. Despite the
challenging conditions, Hero MotoCorp sold a total of 563,426 units of
motorcycles and scooters in the first quarter of Financial Year
(April-June) 2020-21.
Pawan Munjal, Chairman & CEO –- Hero
MotoCorp said, "We have demonstrated phenomenal leadership quality and
tenacity to clock a sharp vertical growth in our sales at a time of
massive disruption and uncertainty".
"Sales of over 4.5 lakh
two-wheelers in a highly disrupted month is also a clear signal of the
resilience of the Indian economy to be able to revive in the face of any
adversity. This has vindicated our strong belief in the robust
fundamentals of the Indian economy", Munjal added.
He added that a
major part of the market demand is emanating from the rural and
semi-urban markets, which have been helped to a large extent by the
various stimulus packages rolled out by the government. A combination of
multiple factors, including the forecast of a normal monsoon, a bumper
Rabi crop and the upcoming festive season are expected to keep the
momentum going over the next few months."
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