Hero Motocorp consolidates market leadership in festive season 2020

Hero Motocorp, sold more than 14 lakh units of motorcycles and scooters, in retail sales during the just concluded festive season, which helped it in gaining market share and strengthen its leadership. The company's market share has grown by more than 500 bps in the month of October.

Despite the severe disruptions because of Covid-19 this year, the retail sales during the 32-day festival period was 98 per cent of the festive season volumes sold by the Company in the previous year 2019 and 103 per cent compared to the same period in 2018. This has enabled the company to reduce the vehicle stocks at its dealerships to less than four weeks, the lowest ever post-festive inventory.

The Company’s strong performance was driven by the sale of its popular models across segments, like 100cc Splendor+ and HF Deluxe, 125cc motorcycles Glamour and Super Splendor and the Xtreme 160R and the XPulse range in the premium segment.

The festive season has witnessed a strong customer preference for Destini and Pleasure scooters, resulting in high double-digit growth for these two models.

At 9.20 am today, Hero Motocorp was trading at Rs 3122.25 per share on BSE, up by 4.67 per cent.