Hero MotoCorp Crosses 8 Million Sales Mark In The Calendar Year
Deepthi | Myequity news | Date : 02-01-2019 11:55:00 IST
Hero MotoCorp, the world’s largest two-wheeler manufacturer, capped-off the Calendar Year (CY) 2018 with yet another significant benchmark, by selling a record 8,039,472 units of motorcycles and scooters in the January-December period.
For the Financial Year (FY) 2019, the cumulative sales of the Company in the nine month period (Apr-Dec 2018), has now risen to 6,037,901 units. Highlights of the Calendar Year (January-December 2018)
In December 2018, Hero MotoCorp sold 453,985 units, compared to 472,731 units in the corresponding month last year (December 2017).
“2018 was a challenging year for the global economy. While the continuing volatility in currency and commodities slowed down the pace of growth, the global geopolitical and trade conflicts also affected sentiments in markets and industries across the world.
The increased cost of two-wheeler insurance ahead of the Diwali festive season and the prevailing liquidity crunch in the market impacted the overall momentum of growth in the industry during the entire third quarter.
The cost of two-wheelers will further go up once the new set of regulations around safety comes into force, followed by the transition to BS-VI emission norms. All these will put severe stress on the extremely cost-sensitive commuters, for whom the two- wheeler is a lifeline.
Given that two-wheelers provide basic mobility to the masses, there is an urgent need to reduce the GST rate on two-wheelers from the 28% bracket of ‘luxury goods’ to that of 18% for mass usage items. This will provide the much-needed relief to millions of two-wheeler customers across the country, as well as the entire value chain dependent on the sector. It is absolutely imperative to ensure growth in the auto sector to create and sustain inclusive economic growth.
With an improved liquidity in the market, and the upcoming festive season in many parts of the country, the industry is expecting a positive turnaround in the fourth quarter”, said Dr. Pawan Munjal, Chairman, Hero MotoCorp.
New Global Landmarks:
• Registered best-ever quarterly sales of over two million (2,104,949 units) in April’18-June’18
• First two-wheeler company to cross 750,000 units in monthly sales (769,138 units in September ’18)
• First two-wheeler company to surpass the ‘seven lakh mark’ in monthly sales for five times in a calendar year (730,474 units in March’18; 706,365 units in May’18; 704,562 units in June’18; 769,138 units in September ’18 and 734,668 units in October’18)
New Product Showcase:
• Launched 'Xtreme 200R' to strengthen its presence in the premium motorcycle segment
• Forayed into 125cc scooter segment with the launch of ‘Destini 125’
• Launched the new 'Passion PRO', 'Passion XPRO' and 'Super Splendor' to augment leadership in 100-125cc motorcycle segments
Global Automotive Shows:
• Unveiled India’s first 200cc adventure motorcycle - ‘XPulse’ at Auto Expo 2018
• Unveiled the new premium motorcycle - the XPulse 200T and a range of customized bikes at EICMA 2018
Strategic Sports Initiatives:
• Registered its best-ever finish at Dakar Rally with Oriol Mena securing 7th position at the Dakar 2018.
• Announced Cricket icon and captain of the Indian National Cricket Team Virat Kohli as its Brand Ambassador
• Extended the title sponsorship of Hero Indian Open, the national Golf championship in India
• Renewed its association with Tiger Woods as the Global Corporate Partner and extended the Title Sponsorship of the Hero World Challenge, the marquee PGA sanctioned invitational golf tournament. This is in keeping with the Company’s strategic global brand building initiatives.