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Hero Motocorp posts double-digit growth in Apr-Dec period 02/01/2018 15:02

Hero Motocorp on Tuesday said that it has registered double-digit growth in April-December 2017 period due to strong demand for its two-wheelers.

“Riding on robust demand for its popular range of two - wheelers, Hero MotoCorp, the world’s largest two - wheeler manufacturer, capped - off the calendar year (January - Dec ember 20 17) with yet another global benchmark,” Hero Motocorp said in a filing to the Bombay Stock Exchange.

Hero MotoCorp surpassed the landmark seven million unit s in cumulative sales in a calendar year. The Company sold a record 7,207,363 units of two - wheelers in the period January – December 2017. The cumulative sales of Hero MotoCorp in the Financial Year 2017 (April - December 2017 ), have now risen to 5,585,558 units, translating into a double digit growth of 11 per cent over the corresponding period (Apr - Dec 2016), when it had sold 5,042,435 two - wheelers.

Hero MotoCorp sold 472,731 units in December 2017, as against 330,202 units in the corresponding month (Dec 2016), registering a strong growth of 43 per cent.

Commenting on the occasion, Pawan Munjal, Chairman, Managing Director & Chief Executive Officer, Hero MotoCorp said, “2017 has been a landmark year in our strategic endeavor to further consolidate our market leadership. Despite the challenging industry environment, we successfully created a series of benchmarks, not only for the Indian market but also for the global automotive industry . Starting with our first global product launch in Argentina in January, we have continued to delight the customers with our technologically - advanced and youthful range of new two - wheelers.”

Meanwhile, shares of company were trading at Rs 3,739.80 apiece, down 0.77 per cent, on the BSE at 15:15 hours.

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