Hero Motocorp has kickstarted FY17 with robust sales of around six lakh plus in the month of April. HMC has been registering double digit growth in three consecutive months (13.6 per cent in February, 14 per cent in March and 15 per cent in April). Quarterly net profit has increased by 70.85 per cent to Rs 814.16 crore, backed by the best quarterly sales.
With brighter outlook for scooters than for motorcycles, the company plans to increase its scooter production capacity to 125,000 per month.
“In the past five years since we commenced our solo journey, we have consolidated our leadership in the face of a volatile market and an intensely competitive environment. Brand Hero has become globally known, with presence in about 30 countries across Asia, Africa and Central and South America,” said Pawan Munjal, Chairman, Hero MotoCorp.
Hero has entered new markets, Nigeria, Argentina and Mexico, but due to continuous currency depreciations, the company has seen significant headwinds.
The company has also forayed into the world of motorcycle rally racing by forming a strategic partnership with Speedbrain GmbH. It is set to blast the track in the Merzouga rally for the first time.