Hero Moto opened 2% higher today morning a Rs.3055 and soon slipped down below 3% to hit an intraday low at Rs.2905.
The country's largest two-wheeler maker Hero MotoCorp, yesterday reported a 7.55% (YoY) increase in sales in August at 5,84,456 units. Sequentially, this translates into a growth of 13% over the month of July 2020, when the Company had sold 514,509 units.
The company said that its latest addition to its range of premium motorcycles – the Xtreme 160R – has received very positive feedback from the market and has led to an increase in the company’s premium segment market share.
The Company is also witnessing strong retail off-take and is currently operating in pull market with rural and semi-urban centers driving demand.
With August marking another step forward in the market's recovery, the Company cautiously anticipates sales to continue their upward trajectory with favorable factors such as the upcoming festive season, increasing consumer confidence and continued government policy support. It said the plants are operating at nearly 100% production capacity with almost all customer touchpoints open.