The world's largest two-wheeler manufacturer announced the landmark 75 lakh unit sales of motorcycles and scooters in a financial year – a feat recoded for the first time ever in the two-wheeler industry.
Hero MotoCorp share price rallied 2.8 percent intraday Monday after the company reported highest ever sales recorded in the financial year 2017-18.
The world's largest two-wheeler manufacturer announced the landmark 75 lakh unit sales of motorcycles and scooters in a financial year – a feat recoded for the first time ever in the two-wheeler industry.
"....clocked its highest-ever annual sales of 75,87,130 units in April 2017-March 2018, which translates to a strong double-digit growth of 14 percent over the corresponding fiscal (FY17) with sales of 66,64,240 units of two-wheelers," Hero said in its filing.
In March 2018, the two-wheeler maker clocked its highest-ever monthly sales of 7,30,473 units, registering a growth of 20 percent. It had sold 6,09,951 units in March 2017.
Hero MotoCorp said it continued to command more than 50 percent market share in the domestic motorcycle segment.
In March 2018, it commenced construction at its eighth manufacturing facility in Chittoor in Andhra Pradesh.
With this additional facility, the company will have a cumulative capacity of 11 million units annually. The company currently has an installed capacity of 92 lakh units per annum.
Hero launched three new bikes - Passion PRO, Passion XPRO and Super Splendor, in the third quarter of FY18. For the fiscal 2018-19, the company plans to launch four new products in the premium motorcycle and scooter categories – Xtreme 200R and XPulse motorcycles and Duet 125 and Maestro Edge 125 scooters.
At 15:16 hours IST, the stock price was quoting at Rs 3,640.45, up 2.68 percent on the BSE.
Posted by Sunil Matkar