Two wheeler company Hero Motocorp today reported a decline of 2.6 per cent in standalone net profit to Rs 772.05 crore in the October-December quarter, mainly on account of demonetisation.
Nigeria is the largest two-wheeler market in Africa with annual volumes of 1.5 million units, while Argentina and Mexico each generate over half a million units per annum.
The company is also considering to scale up its monthly scooter production to 1 lakh units by January 2015 and 1.5 lakh units in the mid-term.
The company is also considering to scale up its monthly scooter production to 1 lakh units by January 2015 and 1.5 lakh units in the mid-term.
Last year, festival time was a record time, and Anil Dua, senior VP, sales at Hero Motocorp expects the same to happen this year as well.
The country's largest two-wheeler maker Hero Honda today said it is looking at a capacity of 7.5 lakh units annually for its proposed fourth plant for which it will invest up to Rs 550 crore.