India's leading two-wheeler manufacturer Hero MotoCorp stated that the footfalls across its dealerships in the country have normalised.
Due to the scrappage of Rs 500 and Rs 1000 denomination notes by Government of India, there was a slight drop in footfalls across Hero MotoCorp showrooms. But the sales have come back to normal figures of 85 percent across the showrooms.
Hero MotoCorp Chairman, Pawan Munjal said. "While there was a steep drop in foot falls at our dealerships in the first two days of currency ban, we are already seeing steady improvement in the situation with footfalls having gone up to almost 85 per cent of the normal level."
He added, "With the slew of measures being implemented by the government, we expect the situation to return to normalcy sooner than later."
Hero MotoCorp registered record sales during the festival season, but during the first two days of demonetisation from November 8, footfalls at its dealerships dropped to 15 percent.
Although Munjal is optimistic about the decision of the government. He added, "The currency ban initiative by the government is a bold and progressive decision which will provide a significant boost to the economy and will create a transparent and inclusive financial system."
He further said, "The agility reflected with subsequent steps is also aiding the public both in urban and rural areas. I am personally very enthused by this decision."