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Hero Motocorp sales climb 11.25% in October
Source: IRIS | 03 Nov, 2015, 03.05PM
Rating: NAN / 5 stars.
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Hero MotoCorp, the world's largest two-wheeler manufacturer, today reported 11.25% growth in sales of two wheelers to 639,802 units in October from 575,056 units in the same period last year.

With over 108,000 units of scooters sold in October, Hero MotoCorp crossed the landmark 1-lakh unit sales in scooters in a month, up 74.6%.

The company said, "The highlight of October has clearly been the overwhelming success of the company's newly-expanded scooters range - Maestro, Pleasure, and the two newly-launched scooters - Maestro Edge & Duet. The success of the scooters, coupled with its over 52% share in motorcycles, Hero MotoCorp has further strengthened its overall leadership in the two-wheeler market."

The company's previous highest sales in any month were in October 2013 when it sold 625,420 units.

With this, the market share of Hero MotoCorp in the domestic scooter market has risen from 13% in September to almost 20% at the end of October.

Hero MotoCorp has been the only Indian two-wheeler manufacturer to ever exceed the landmark of 6 lakh plus monthly sales on multiple occasions. The company has crossed this milestone on four occasions i.e September 2015 with sales of 606,744 units, September 2014 with sales of 204,052 units, May 2014 with sales of 602,481 units and October 2015 with sales of 625,420 units.

Shares of the company gained Rs 30.90, or 1.21%, to settle at Rs 2,580. The total volume of shares traded was 8,009 at the BSE (3.59 p.m., Tuesday).

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