Looks like Hero Motocorp has had a good festive season. The company yesterday said that it sold more than 14 lakh units of motorcycles and scooters, in retail sales during the just concluded festive season, thereby continuing to gain market share and strengthen its leadership.
Despite the severe disruptions on account of the Covid-19 this year, the good retail off-take during the 32-day festival period - spread between the first day of Navratra and the concluding day after Bhai Duj – was 98% of the festive season volumes sold by the company in the previous year (2019) and 103% compared to the same period in 2018.
This has enabled Hero MotoCorp to reduce the vehicle stocks at its dealerships to less than four weeks, the lowest ever post-festive inventory. Its market share has grown by more than 500 bps in the month of October.
The stock rose over 5% to hit an intraday high at Rs.3135.55. Its 10% UC of the day is at Rs.3281.30.