Subdued festive demand dents Hero MotoCorp’s Nov sales

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New Delhi, Dec 1 (IANS) Late withdrawal of this year’s monsoon season, along with a subdued festive season demand, dented two-wheeler major Hero MotoCorp’s total sales during November on a year-on-year basis.

The total sales during last month declined to 349,393 units from 591,091 units sold during the corresponding period of last year.

“Delay in harvesting due to the late withdrawal of monsoon in many parts of the country, impacted the demand post festive season,” the company said.

“With the economy gradually opening up coupled with several other positive indicators, such as encouraging farm activity, confident consumer index and marriage season, a swift revival in sales is expected in the fourth quarter.”

The company expects momentum in the two-wheeler industry to come back as commodity prices are showing some signs of softening aided with the reduction of excise duty on fuel.

Also, increased capital expenditure by the Centre is expected to support the company’s volumes, it added.

–IANS
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