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Hero MotoCorp, the world's largest two-wheeler manufacturer has registered a record sales in the month of October 2020. According to the report, the company has registered over 8.06 lakh units of sales in October 2020, their highest sales volume ever in a single month.
The company announced that their sales volume has grown by 35 per cent in yearly sales. Hero MotoCorp during the same month last year (October 2019) had registered just a little over 5.99 lakh units of sales.
Of the total 8.06 lakh units of sales, Hero MotoCorp registered 7.91 lakh units from the domestic market, while the remaining 15,711 units were from export sales. The company during the same month last year, had registered 5.86 lakh units from the domestic market, while export sales in October 2019 stood at 12,260 units.
Also, majority of the total sales came from the motorcycle segment, which contributed 7,32,498 units of sales. The scooter segment registered the remaining 74,350 units.
Hero MotoCorp stated that they have been witnessing a robust demand in the market, especially during the ongoing festive season in the country. The company stated that the support from the government, credible resumption of supply chain, logistics and all other business operations are the key factors, which have helped in registering the record sales volume.
The company also confirmed that with the higher dispatch numbers, all customer touchpoints across the country now have sufficient inventory to meet the demands in the market.
Hero MotoCorp also announced that they have managed to register significant gains in market share, during the second quarter of the year. This is across all product categories and geographies, with expectations to further continue the momentum in the coming months as well.
Thoughts On The Hero MotoCorp Sales Figures For The Month Of October 2020
Hero MotoCorp has had a stellar month, registering record-breaking sales volume. With the festive season now in full steam, the demand for vehicles is further expected to increase yet again this month as well. It will be interesting to see how the following months pan-out for the brand.