Bhubaneswar: “The financial year 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 onbringing technologically-advanced products for our customers across the globe, building our production capacities and expanding our customer touch points.” Pawan Munjal , Chairman, Managing Director & CEO, Hero MotoCorp.
Hero MotoCorp Ltd., the world’s largest two-wheeler manufacturer,today announced the landmark 7.59 million (75 lakh) unit sales of motorcycles and scooters in a financial year (FY’18) – a feat recoded for thefirst time ever in the two-wheeler industry.
Hero MotoCorp clocked its highest-ever annual sales of 7,587,130units in FY’18 (April 2017-March 2018), which translates to a strong double-digit growth of 14%(rounded) over the corresponding fiscal (FY’17) with sales of 66,64,240units of two-wheelers.
Hero MotoCorp closed the fiscal on a strong note of growth, clocking its highest-ever monthly sales of 730,473units in the month of March 2018, registering a growth of 20%.The company had sold 609,951 units in March 2017.
With an eye on future market demand, Hero MotoCorp invested in ramping up its production capacity during the fiscal. In March 2018, it commenced construction at its eighth manufacturing facility in Chittoor in Andhra Pradesh. With thisadditional facility, the Company will have a cumulative capacity of 11 million units annually. The company currently has an installed capacity of 9.2 million units per annum.
Fortifying its leadership in the commuter segment, the Company 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 the fiscal 2018-19, where the Company plans to launch four new products in the premium motorcycle and scooter categories – Xtreme 200R and XPulse motorcycles and Duet 125 and Maestro Edge 125 scooters.
Hero MotoCorp continues to command more than 50% market share in the domestic motorcycle segment.