Hero MotoCorp posts flat sales in February 2014

Hero MotoCorp Ltd (HMCL) has reported sales of 504,181 two-wheelers in February 2014, an increase of just 0.58 percent year on year (February 2013: 501,271 units). Following the 4 percent cut in excise duty on February 17, the company had cut prices across its product portfolio ranging from 2 percent going up to 5 percent with the maximum reduction being Rs 4,500. However, despite this price reduction, it seems consumers are taking time to make their purchase decisions.  

Commenting on the February 2014 sales, Anil Dua, senior VP (marketing & sales), HMCL, said: “We have been consistently selling over 500,000 units every month and this is clearly indicative of the inherent market demand that exists for our products.”

Dua also confirmed that Hero MotoCorp plans to roll out new models later this month. He said, “We plan to create further excitement in the market with as many as four models – the newer versions of the Pleasure scooter and the Xtreme, Karizma and ZMR motorcycles – ready to roll out later this month.”

On February 27, Hero MotoCorp, which plans to have a footprint in 50 global markets by the year 2020, launched its operations in Turkey in partnership with local player Asya Makina. The company will, in most likelihood, use Turkey as a gateway to the European market and has begun selling three products – the Euro 3-compatible 125cc Glamour and 150cc Thriller bikes and the 100cc Pleasure scooter – across 50 outlets in that country. 

At last month’s Auto Expo, the company had showcased over a dozen models including concepts like the 150cc diesel RNT, electric SimplEcity, iON and 620cc Hastur bikes. It also took the covers off some new scooters comprising the 150cc Zir in two variants, 125cc Dare and the 110cc Dash.