Hero MotoCorp's sales in August bounce back to pre-Covid levels
Hero MotoCorp on Tuesday announced it had sold 584,456 units of motorcycles and scooters in the month of August 2020, a growth of 7.55% over the corresponding month of the previous year. This augers well for the Indian two-wheeler as a whole because it signals the revival of demand at a time when many analysts had already predicted two-wheelers to pave the path towards recovery.
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Hero MotoCorp managed to register a growth of an even more substantial growth of 13% over its domestic sales in the month of July when it had managed to sell 514,509 units. The company also informed in a press statement that it has received a positive response for its latest offering - Xtreme 160R - and that it is helping it consolidate market share in the premium segment.
In terms of breakup between motorcycles and scooters sold, Hero MotoCorp managed to sell more of the former last month than it had in August of 2019 - 544,658 against 498,547. Sales of scooter fell marginally from 44,859 to 39,798 but overall, the volumes are a step up.
Most notably - and on lines already predicted - the volumes are being driven by demand in the rural and semi-urban centers.
The company further underlines that it is operating at nearly 100% production capacity and that almost every customer touch-point is now open. With the festive season coming up, demand is likely to go up in the upcoming two months which would further boost morale.