Hero MotoCorp’s March sales up 20%

New Delhi: Two-wheeler manufacturer Hero MotoCorp on Monday reported a 20 per cent year-on-year rise in its monthly sales for March 2018.

The company said that its monthly sales increased to 730,473 units from 609,951 units sold during the corresponding month of the previous year.

In the last financial year, the two-wheeler major’s sales grew by 14 per cent to 7587,130 units from an off-take of 6664,240 units in 2016-17.

“Achieving the landmark 7 million annual sales milestone — in both the calendar year 2017 and fiscal year 2017-18 — is a clear indication that Hero continues to be the preferred choice of customers across markets,” Hero MotoCorp Chairman, MD and CEO Pawan Munjal was quoted as saying in a statement.

He further added : “Our overall global sales growth has given further impetus to our global expansion plans.”

According to the statement, the company has invested in “ramping up its production capacity during the fiscal”.

In March 2018, it commenced construction at its eighth manufacturing facility in Chittoor in Andhra Pradesh. With this additional facility, the company will have a cumulative capacity of 11 million units annually. The company currently has an installed capacity of 9.2 million units per annum.