The country’s largest two-wheeler maker Hero MotoCorp has recorded highest ever single-day sales of over three lakh vehicles on October 17, the day of Dhanteras.
“This festive season has been a blockbuster for Hero MotoCorp. The highest-ever single day retail sales of well over three lakh units on Dhanteras comes on the back of what has been a season of new global records for Hero,” a senior company official said.
‘Pent-up demand’
The company had registered the highest-ever numbers in monthly sales, of seven lakh vehicles in September, the official said.
Hero MotoCorp had also posted record sales of more than 20 lakh units in July-September 2017.
“I am not surprised by this. [In the] last two years, there hasn’t been much demand from the rural areas due to slowdown owing to lack of good monsoons. So, there is a lot of pent up demand. Hero MotoCorp is very strong is these areas,” according to Abdul Majeed, partner-automotive at PriceWaterhouse.
While there is a pick up in sentiment in both rural and urban areas, there is more pent-up demand in the rural areas, he added.
Two-wheeler sales in the country have grown 10.14% in the current fiscal year(April-September 2017) over the same period last year. While sales of scooters grew 17.26% to more than 35.77 lakh units, those of motorcycles rose 7.71% to more than 65.08 lakh units.
Last month, two-wheeler sales grew 9.05%. While motorcycle sales climbed 6.98% to more than 12.69 lakh units, scooter sales rose 13.19% to more than 6.86 lakh units.
Industry body SIAM had attributed the growth to “an indication of rebound” in the rural market on the back of a good monsoon.
