After a sluggish industry environment, two-wheeler industry is now witnessing a rise in sales volume. After Yamaha, Bajaj and Royal Enfield, it’s Hero MotoCorp which reported positive sales number for the first quarter of financial year 2015.
World’s largest two-wheeler manufacturer, Hero MotoCorp Ltd (HMCL), reported 10% growth in the first quarter of (April-June) fiscal 2014-15 over the corresponding quarter of the previous fiscal.
Hero MotoCorp sold 17,15,129 units of two-wheelers in Q1 of this fiscal compared to 15,59,282 units sold in the corresponding quarter of the previous fiscal, thereby clocking a 10% growth.
Hero MotoCorp closed the quarter with robust sales of 541,594 units in June, 2014 – thereby registering a growth of 8% over the corresponding month in the previous year, when the company had sold 502,279 units.
Moreover, in the month of June, Hero MotoCorp commenced production at its fourth manufacturing plant at Neemrana in Rajasthan and also started delivery of units from the plant to the market. With the commissioning of the plant, which has an installed capacity of 750,000 units, Hero MotoCorp now has a total annual installed capacity of 7.65 million units of two-wheelers.
Since the beginning of FY15, Hero MotoCorp has sustained robust volume sales despite the overall sluggish industry environment. The recent extension of the current excise duty rate is expected to act as an impetus for the auto sector and hopefully, it will lift the industry sentiment.
Stay tuned into Motoroids as we report more first quarter results from the auto industry.