Hero MotoCorp, the world’s largest two-wheeler manufacturer, has reported record sales of 7,587,130 units in FY2017-18, which marks year-on-year growth of 14 percent (FY2017: 6,664,240 units). This is a world record for any two-wheeler maker and constitutes sales of 20,786 units sold for every day in FY2018. This also means every 20 seconds a Hero product was sold. Even as you read this report, a Hero two-wheeler is being sold somewhere in the country.
Pawan Munjal: "We are determined and focused on bringing technologically-advanced products for our customers worldwide, building our production capacities and expanding our customer touch-points."
“2017-18 has been a period of high growth where Hero MotoCorp achieved significant milestones, and set new benchmarks in the two-wheeler industry. Achieving the landmark 7 million annual sales milestone in both the calendar year 2017 and fiscal year 2017-18 is a clear indication that Hero continues to be the preferred choice of customers across markets. Our overall global sales growth has given further impetus to our global expansion plans. We are determined and focused on bringing technologically-advanced products for our customers across the globe, building our production capacities and expanding our customer touch points,” said Pawan Munjal, chairman, managing director and CEO, Hero MotoCorp.
Hero MotoCorp closed the fiscal on a strong note, clocking its highest-ever monthly sales of 730,473 units in March 2018, registering growth of 20 percent (March 2017: 609,951).
With an eye on future market demand, the company has invested in ramping up its production capacity. On March 23, 2018, it commenced construction at its eighth manufacturing facility in Chittoor district of Andhra Pradesh. With this additional facility, it will increase its cumulative capacity of 11 million units annually; the current installed capacity stands at 9.2 million units per annum.
And in a bid to strengthen its position in the mass commuter motorcycle segment, Hero MotoCorp launched three new bikes – Passion Pro, Passion XPro and Super Splendor – in the third quarter of the fiscal. It has also lined up a slew of new launches for FY2018-19, where it plans to launch four new products in the premium motorcycle and scooter categories – the Xtreme 200R and XPulse motorcycles and Duet 125 and Maestro Edge 125 scooters.