Two-wheeler giant,
Hero MotorCorp has witnessed robust demand during the festive season. The company sold more than 14 lakh units of motorcycles and scooters in retail sales in a little over a month. On Sensex, the automaker's stock has surged by over 5% with an intraday high of Rs3,135.55 per piece in early deals.
Hero MotoCorp said, sold more than 14 lakh units of motorcycles and scooters, in retail sales during the just concluded festive season, thereby continuing to gain market share and strengthen its leadership.
According to the company's regulatory filing, despite the severe disruptions on account of the Covid-19 this year, the good retail off-take during the 32-day festival period - spread between the first day of Navratra and the concluding day after Bhai Duj – was 98% of the festive season volumes sold by the Company in the previous year (2019) and 103% compared to the same period in 2018.
On segment-wise performance, Hero MotoCorp said, the Company’s festival season retails were driven by the strong performance of its popular models across segments, including the 100cc Splendor+ and HF Deluxe, 125cc motorcycles Glamour and Super Splendor and the Xtreme 160R and the XPulse range in the premium segment. The Glamour in its BS-VI avatar continues to gain volumes in new markets. The festive season also witnessed strong customer preference for Destini and Pleasure scooters, resulting in high double-digit growth for the two models.
Also, the company continued to consolidate its market share in the domestic two-wheeler market since the resumption of plant operations and retail sales in early May. Hero MotoCorp’s market share has grown by more than 500 bps in October this year.
With the above performance, such also resulted in a reduction in Hero MotoCorp's vehicle stocks at its dealerships to less than four weeks, the lowest ever post-festive inventory.
At around 10.44 am, the company was trading at Rs3,089.70 per piece up Rs106.70 or 3.58% on Sensex.