India’s leading two-wheeler manufacturer Hero MotoCorp has achieved a new milestone as it recorded its highest-ever retail sales during the 2023 festive season. The company reported a significant 19% growth in sales compared to the previous year.
What Happened: According to the company’s press release, it sold over 14 lakh units during the celebratory period of 32 days, starting from Navratras and culminating on Bhai Dooj. This remarkable feat surpasses the company’s previous record of 12.7 lakh units sold during the 2019 festive season.
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The substantial increase in sales is attributed to a robust demand in rural markets complemented by a steady retail off-take in key urban centres. “We are delighted with the festive sales; and a big thank you to all our customers who have continued to repose their trust and faith in Brand Hero," stated Niranjan Gupta, CEO of Hero MotoCorp.
The 2023 festive season saw Hero MotoCorp launch the second edition of Hero GIFT, a leading program specifically designed for the festive period. This initiative offered new model refreshes, attractive colour schemes, exciting benefits, and appealing finance schemes to customers, thereby contributing to the surge in sales.
Price Action: Hero MotoCorp’s share price was up 2.04% to trade at ₹3,242.75 on Thursday afternoon.
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