Hero Diwali sales average out to almost 44,000 units a day and these are not mere factory dispatches – they are actual retail numbers!
Hero Motocorp, the world’s largest manufacturer of two wheelers by volume, is riding high this festive season, despite COVID-19 related disruptions. The company had dispatched whopping 8 lac+ units last month, despite actual retail sales lingering around 3.5 Lakh units. It was in this hope of big demand during the festive season. And looks like, Hero was correct in estimating the momentum.
Hero Diwali Sales
Hero Motocorp has revealed that it has sold whopping 14 lakh units of its two-wheelers during the 32-day festive period, between the first day of Navratri and concluding the day of Bhai Duj. It translates to about 43,750 units sold every single day on an average! And do note that these are retail sales!
Hero informs that the company was able to touch 98% of previous year’s festive season volumes, and 103% volumes of 2018. This spike in sales was led by huge pent-up demand for its vehicles, including the Splendor, HF Deluxe, Glamour, Super Splendor, Xtreme 160R, and the X-Pulse range.
With this, the company has naturally gained significant market share, and has also been successful in improving the inventory levels at its dealerships. Hero shares that the inventory level of its vehicles is now less than four weeks, which is an all-time low for the brand during post-festive seasons.
While this is Hero’s side of the story, we await hearing from other manufacturers to get a better stock of the market response during the festive season.