Hero MotoCorp clocks 7% growth in May sales at 519,474 units
Two-wheeler major Hero MotoCorp has reported a 7% sales growth last month as compared to the same month same last year. It sold a total of 519,474 units in May as compared to 486,704 units sold in the year-ago period. The company expects the momentum to continue in the coming months due to uptick in customer sentiments, forecast of normal monsoon and a host of new launches that it has lined up.
The company's motorcycle sales stood at 489,336 units last month as compared to 452,246 units in the year-ago period whereas its scooter sales dipped a little at 30,138 units in May as against 34,458 units sold in the corresponding month a year ago.
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Hero MotoCorp's domestic sales stood at 508,309 units last month when compared to 466,466 units sold in the market in May of last year. Its total exports saw a dip at 11,165 units in May as against 20,238 units sold in the year-ago period.
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Last month, the company introduced the OBD-II & E20 compliant XPulse 200 4V motorcycle in the country in line with its commitment to bring cleaner and technologically advanced mobility solutions.
The company also expanded its business globally by partnering with Motosport SA in Costa Rica - a key market in Central America. The company will be the exclusive distributor for the sale and service of Hero MotoCorp in the region and will play a key role in the rapid expansion of the brand's network there.
Earlier this month, the company announced its fourth quarter results, stating that it registered a bigger-than-expected 37% rise. It said that its profit rose to 8.59 billion rupees ($105.12 million) for the quarter ended March 31.
