India’s leading two-wheeler major Hero MotoCorp reported 8 per cent decline in sales in festive month of October. The company sold 5,75,056 two-wheelers in October 2014 as compared to 6,25,420 units in the same month last year. During the festive period, which lasted between September 25 (first day of Navratras) and October 31, the company sold 10 lakh two wheelers.
“All the new launches – including the new ZMR, Splendor iSmart, Splendor Pro Classic and Passion Pro TR – have been driving the volumes across segments,” the company said in filing to stock exhcanges.
Unfazed, Hero MotoCorp is looking forward to it’s global investment of over Rs. 5,000 crore bear fruit. Overseas manufacturing plants in Colombia and Bangladesh are in the pipeline, and so are domestic plants in Gujarat and Andhra Pradesh. Apart from that a Hero Global Centre for Research & Design at Kukas in Rajasthan is also planned.