The largest two-wheeler manufacturer in the nation, Hero MotoCorp, surpassed 1.4 million units sold during the 32-day festival period to record its best-ever festival retail sales. This represents a notable achievement for the company as it represents a 19% increase over the prior year.
During the festival season, which ran from the first day of Navratras to Bhai Dooj, demand was observed in both rural and major urban centers.
Hero MotoCorp outperformed its previous record high retail sales of 1.27 million units, which it had set during the 2019 festival season.
Hero MotoCorp has lowered its after-festival channel inventory to the lowest level in more than three years, riding high on the success of the festival season.
Hero MotoCorp CEO Niranjan Gupta stated, “This growth across geographies has been driven by our strong portfolio of brands, scale of distribution, and new launches this year.” The festival season is unmistakable evidence that rural areas are expanding, which is encouraging for the nation overall and the two-wheeler sector specifically.
“The record retail number was achieved due to strong customer traction across markets, with good double-digit growth in the Central, North, South, and East Zones,” said Ranjivjit Singh, chief business officer of Hero MotoCorp’s India business unit. This record retail sales were driven by strong customer demand in rural markets and positive sentiment in important urban areas.
The second iteration of Hero GIFT (Grand Indian Festival of Trust) was introduced by Hero MotoCorp. This program included new model refreshes, colour schemes, customer benefits, and finance options, all especially created for the festival season.
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