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Investment Guru India 2020-08-01 05:19:46

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Two-wheeler major Hero MotoCorp reported a marginal fall in its total sales including exports for the month of July.

Accordingly, the Hero MotoCorp sold 514,509 units of motorcycles and scooters in July 2020 from an off-take of 535,810 units in the corresponding period of last year.

"Despite the prevailing economic slowdown on account of the Covid-19 pandemic, the company registered a sequential growth of 14 per cent over the previous month (June 2020) and reached more than 95 per cent of wholesale dispatch numbers of the corresponding month in the previous year (July 2019)," the company said in a statement.

"The robust volumes have been driven by strong retail sales due to the positive market demand. While there is cautious optimism on the demand trajectory going forward, sales continue to be impacted by the micro-lockdowns in several parts of the country."

"For the growth momentum to continue, it would be pertinent for state and local authorities to provide a stable and consistent business environment as the situation evolves."

According to the company, Hero MotoCorp made significant progress in ramping up the production across all of its eight manufacturing facilities - six in India and two at global locations.

"More than 95 per cent of Hero MotoCorp customer touch-points are currently operational, with strict safety measures and protocols in place," the statement said.