Hero MotoCorp gains 9% (YoY) growth in June'14
Ending up with a 10% volume growth in the first quarter of the fiscal year, Hero MotoCorp Ltd, further strengthened its reign as the world's largest two-wheeler manufacturer with magnificent sales in the month of July. Close on the heels of a 10% volumes growth in the first quarter (April-June) of this fiscal, Hero MotoCorp Ltd, the world’s largest two-wheeler manufacturer, today further consolidated its market leadership with robust sales in the month of July.
Hero MotoCorp despatched 529,862 units of two-wheelers in July, registering a healthy growth of 9% over the corresponding month in the previous year, when the company had sold 487,545 units. In the first quarter of this financial year (2014-15), the company had notched up its highest-ever quarterly sales of 17,15,129 units of two-wheelers, a growth of 10% over the corresponding quarter in the previous fiscal when it had sold 15,59,282 units.
Hero MotoCorp today also extended the tenure of its Chief Financial Officer (CFO) Mr. Ravi Sud by another two years, till July 31st, 2016. Mr. Sud – a highly credible voice in the financial fraternity - has been with the company for close to 15 years. He was recently bestowed with the top two awards at the CNBC TV18 CFO Awards 2013 – Best CFO in Auto and Auto Ancillary; and Best CFO of the Year Award.
July has been an action-packed month for Hero MotoCorp, with the company setting up its wholly-owned subsidiary in Colombia –‘HMCL COLOMBIA SAS’. Hero also commenced construction of its state-of-the-art manufacturing plant in Colombia. With this, Hero MotoCorp will be the first Indian two-wheeler company to have a manufacturing plant in Latin America. In July, Hero also became the Title Sponsor of the Indian Super League – the first-of-its-kind franchise-based football league in the country. With this sponsorship, the much-awaited new football league will be called the ‘Hero Indian Super League’.
All the recent launches by the company, including the new Xtreme, Karizma & ZMR are driving volumes across markets. Hero MotoCorp has also recently commenced dispatch of the new bike – the Passion Pro TR – to some markets, and it will be available in all dealerships within the next few weeks.