Hero MotoCorp Clears GST Bump, Beats Estimates

Hero MotoCorp Clears GST Bump, Beats Estimates
Workers assemble Hero Ignitor motorcycles on the assembly line of the Hero MotorCorp. (Photographer: Prashanth Vishwanathan/Bloomberg)

Hero MotorCorp Ltd. sold more than 6 lakh two-wheelers for the third straight month despite a slump in the first few days of July due to the Goods and Services Tax.

India's largest two-wheeler maker's sales rose 17 percent to 6.2 lakh units over the same month last year. That beat BloombergQuint's estimate of 6 lakh vehicles.

While GST initially hurt sales, robust rural demand for two-wheelers was expected to drive up the numbers, according to a Nomura Research report on July 31.

The company did not share model-wise sales numbers.

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