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Hero MotoCorp Sales is expected to register a growth during the festive season in India. According to reports by ET Auto, the company is aiming at a 10% growth in the Indian market in the coming months.
Hero MotoCorp, the world's largest two-wheeler manufacturer has been suffering declining sales in the Indian market consistently in 2019. The reason being the total auto industry slowdown, which has affected sales of almost every brand in the sector.
However, with the arrival of the festive season in the country, Hero MotoCorp is hopeful for a positive growth. The reason for the increase in growth according to Hero is the recently cut in corporate tax rates, which is a big boost for companies.
The recent government initiatives, along with the pent-up demand for vehicles is expected to help boost volume sales in the Indian market. Hero MotoCorp also expects its inventory to normalise in the coming months,once the demand increases.
The company will also not be offering any major discounts or benefit offers to boost sales. They expect the above-mentioned reasons are sufficient to improve the sales in the market, especially during the festive season.
The company has already launched five new models within the first five months of the 2019-20 financial year. This includes the Hero Maestro Edge 125 FI, Hero Pleasure 110, Xtreme 200S and the XPulse twins. The company is now looking at introducing BS-VI compliant models in hte Indian market as well.
Pawan Munjal, Chairman, Hero MotoCorp, stated: "At a time when companies are holding back new product launches and investments, we have gone ahead and launched five new products in the first five months of the financial year - including three new premium motorcycles and two scooters."
Hero has already showcased their BS-VI compliant Splendor iSmart in India, with an expected launch in the market soon. It will be the first BS-VI compliant commuter motorcycle in the market as well.
Thoughts On The Hero MotoCorp Sales In India
Hero MotoCorp is working aggressively to improve sales in the Indian market. The company is aiming to achieve 10% growth in a market, which is still suffering a downward slope in terms of sales. The company is relying on the festive season in India to provide a boost to its sales volume in the market.