Hero Honda aims to sell 5 million bikes in this fiscal

India's largest two-wheeler manufacturer, Hero Honda Motor Ltd, intends to sell 5 million two-wheeler in this financial year (2010-11). The company has sold 4.6 million two-wheeler in the year to March 2010. Hero Honda sold nearly 1.2 million Motorcycles and Scooters in the quarter, up from 19 percent from a year ago. Net sales grow to 40.92 billion rupees from 34.12 billion last year. Earlier it's reported a 49 percent increase in quarterly net profit to 5.99 billion rupees. The company registered a net profit of 49 percent in the quarterly, beating abroad on higher sales. Japan's Honda Motor Crop, owned a 26 percent stake with Hero in India, reported net profit of 5.99 billion rupees($134 million), from 4.02 billion a year earlier. Meanwhile, TVS Wego has recently launched in the Indian auto market. Apart from that launch, Indian bike customers will see more launches in India that include Yamaha SZ and Yamaha YZF R125.