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Hero Honda's March sales drop

NEW DELHI APRIL 2. Hero Honda Motors' motorcycle sales fell by 14.6 per cent in March as continued poor market sentiment triggered by Iraq war, petrol price hike, drought, uncertainty about VAT and the Gujarat episode hit demand. The company sold 1.15 lakh motorcyles during the month against 1.35 lakh units in the same month in 2002, a company spokesman said. The March sales were lower by 14.1 per cent as compared to 1.34 lakh motorcycles sold in February this year.

For the year ended March 31, 2003, the company recorded a 17.7 per cent rise in sales at 16.77 lakh units against 14.25 lakh units a year earlier. Sales in 2002-03 were lower than the original sales target of 1.8 million motorcycles and the revised estimate of 1.7-1.725 million units.

Despite this, Hero Honda achieved an all-time high sales turnover of over Rs. 5,000 crores against Rs. 4,539.49 crores in 2001-02. — PTI

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