Published on 2/09/2020 9:34:48 AM | Source: IANS

Hero MotoCorp`s August sales up 7.55%

Posted in Company News| #Hero MotoCorp Ltd #Quarterly Result

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Two-wheeler major Hero MotoCorp reported a rise of 7.55 per cent in its total sales, including exports, for the month of August.

Hero MotoCorp sold 584,456 units of motorcycles and scooters in August 2020 from an off-take of 543,406 units in the corresponding period of last year.

Sequentially, this translates into a growth of 13 per cent over the month of July 2020, when the company sold 514,509 units.

The two-wheeler major's total domestic off-take increased to 568,674 units from 524,003 units sold during the corresponding month of last year.

However, the company's exports fell to 15,782 units during the month under review from 19,403 units from August 2019.

"The company is also witnessing strong retail off-take and is currently operating in pull-market with rural and semi-urban centers driving demand," the company said in a statement.

"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."

As per the statement, the company is now operating at nearly 100 per cent production capacity with almost all customer touchpoints open.