The country's largest two-wheeler maker Hero MotoCorp on Wednesday said it recorded sales of 4,50,744 two-wheelers in June, down 27 per cent as compared with 6,16,526 units in the corresponding month last year.
However, on a month-on-month basis, sales in June were more than four times that in May at 1,12,682 units.
"This is an overwhelming reiteration of the enduring trust and faith that our customers repose in brand Hero. 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," Pawan Munjal, Chairman and Chief Executive Officer, Hero MotoCorp, said.
A major part of the market demand emanates from the rural and semi-urban markets, which have been helped to a large extent by various stimulus packages rolled out by the government, he said.
"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," Munjal added.