Hero Honda reports 27% growth in August sales

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Hero Honda Motors Limited (HHML), the world's largest two-wheeler manufacturer, further consolidated its leadership in the domestic motorcycle market, with a robust 26.8 per cent growth in sales for the month of August 2008. The company sold 305,516 units of two-wheelers in August 2008, compared to 240,875 units in the corresponding month last year.

 

With this, Hero Honda's cumulative sales in this financial year so far (April-August 2008) stands at 14,81,077 units as against 12,44,919 units in the corresponding period last year - reflecting a 19 per cent growth in cumulative sales.

 

This carries forward the company's positive growth trajectory since the beginning of this financial year (2008-09), further augmenting its more than 55 per cent share in the domestic motorcycle market.

 

According to Mr. Anil Dua, Sr. Vice President (Marketing & Sales), Hero Honda Motors Ltd, "Our strategy is yielding results. The strategy hinges on creating winning brands across segments, investing in brand building, exploring untapped markets in rural and upcountry areas while consolidating urban presence and rapidly expanding our network. However, the industry continues to face uncertainty on account of high interest rates and overall credit squeeze. The festival month of October is going to be crucial in determining the overall outlook of the industry for the year."

 

Key Hero Honda brands continue to drive strong volumes across segments - CD Deluxe in entry segment, Glamour, the new Splendor NXG, Splendor + and Passion Plus in deluxe segment, and Hunk, CBZ X-treme and Karizma in the premium segment.

 

Hero Honda's scooter Pleasure has also been growing strongly, with more than 12,000 units being sold in August this year. 

 

Sourced From: Corporate Voice|Weber Shandwick