close

News WrapGet Handpicked Stories from our editors directly to your mailbox

Hero MotoCorp sales rise by nearly 9% in May; commences production at Bangladesh plant

Hero MotoCorp finally see a positive growth in May and sees positive growth on good rural demand due to normal monsoons.

Hero MotoCorp sales rise by nearly 9% in May; commences production at Bangladesh plant
Hero MotoCorp Ltd Chairman, MD and CEO Pawan Munjal unveils Dawn 125 at EICMA Motorcycle show inMilan, Italy on Nov. 10, 2016. Photo: IANS
Written By: ZeeBiz WebTeam
Updated: Thu, Jun 01, 2017
06:11 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Hero MotoCorp reports 14% drop in net profit in Q4FY17 Hero MotoCorp reports 14% drop in net profit in Q4FY17
Hero MotoCorp raises prices by up to Rs 2,200 of two-wheelers Hero MotoCorp raises prices by up to Rs 2,200 of two-wheelers
Hero MotoCorp Q4: Demonetisation, BS-III ban to put brake on profits, says experts Hero MotoCorp Q4: Demonetisation, BS-III ban to put brake on profits, says experts
Hero MotoCorp raises prices by up to Rs 2,200 of two-wheelers Hero MotoCorp raises prices by up to Rs 2,200 of two-wheelers
Despite five months of best ever sales, Hero MotoCorp sold only 31,600 more bikes last year Despite five months of best ever sales, Hero MotoCorp sold only 31,600 more bikes last year

Key highlights:

  • Hero MotoCorp records 8.7% growth in sales in May
  • Two-wheeler sales rise to 6,33,884 units
  • Hero MotoCorp also announced the commencement of commercial production in the manufacturing facility at its subsidiary HMCL Niloy Bangladesh Ltd

Hero MotorCorp on Thursday announced that its sales in the month of May had grown by 8.7% as it's two-wheeler sales rose to 6,33,884 units in comparison to 5,83,117 units in the same month last year.

This is yet another month where the company reported sales of over 6 lakh units. This growth in sales marks a recover in the company's sales from the after-effects of demonetisation and the impact of the Bharat Stage III vehicle ban by the supreme court.

Besides this, Hero MotoCorp also announced the commencement of commercial production in the manufacturing facility at its subsidiary HMCL Niloy Bangladesh Ltd on Thursday. This plant which is located at Jessore in Bangladesh has an installed capacity of 1,50,000 vehicles per annum.

This is Hero MotoCorp's second manufacturing facility at an overseas location.

The company has its first overseas manufacturing plant at Vila Rica near Cali in Columbia, which became operational in 2015.

Hero MotoCorp remains positive of the months to come saying that the industry is expecting a boost in demand and consumption in the rural markets as monsoons have already hit some parts of the country and the forecast of normal rains this year.

The company said it remains confident of maintaining the growth trajectory in the coming months with a line up of a slew of new launches across various segments.