Hero MotoCorp has set a target of producing 7.5 million motorcycles and scooters in the fiscal year 2021-22, amid economic recovery and improvement in rural demand, consumer sentiment.
India's largest two-wheeler manufacturer's internal sales target includes doubling exports to 350,000-400,000 vehicles from the existing 150,000-200,000, Mint reported.
Hero MotoCorp intends to manufacture 600,000-650,000 two-wheelers per month in FY22, which will take the total output to more than 7 million.
Also read: Hero MotoCorp raises capex for FY22 to up to Rs 1,000 crore
This would be close to FY19 output, Hero MotoCorp when produced 7.83 million units and reported wholesales or factory dispatches of 7.61 million units.
Moneycontrol could not independently verify the story.
A Hero MotoCorp spokesperson had not yet responded when contacted by Mint.
"Hero's management is also focusing on doubling its export business next year as it is imperative for them to expand export volumes for further improvement in profits and exports also boost operating margins. Overall, they are planning to target around 800,000 units from exports in the next few years," a source told the publication.
Hero MotoCorp sold 505,467 units of motorcycles and scooters in February 2021, as against 498,242 in February 2020.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
