Hero MotoCorp reports 11% fall in sales

The country's largest two-wheeler maker Hero MotoCorp today reported 11.36 percent decline in total sales at 4,68,283 units for March. In the same month last year, it had sold 5,28,290 units, Hero MotoCorp said in a statement.

Also read: UB Holdings drags SBI to Bombay HC to block sale of shares

For the entire 2012-13 financial year ended yesterday, the company's sales went down by 2 percent to 61 lakh units, from 62 lakh units in FY'12, it added.

Hero MotoCorp Senior Vice President (Marketing and Sales) Anil Dua said: "Indian auto industry faced acute slowdown in FY'13. It continues to reel under the adversities of persistent inflation, firm interest rates, rising fuel prices and negative consumer sentiment."

All these factors have adversely impacted the growth of the industry and the company's sales volumes, he added.

"Going forward, we have planned new launches, new campaigns, capacity addition and network expansion to boost the sentiment of the domestic industry and accelerate growth.

In the new financial year, we will also commence our international operations in several new markets to work towards our global vision," Dua said.