Hero MotoCorp Ltd.'s total sales fell to an 11-month low in December despite a 43 percent increase on a year-on-year basis.
The two-wheeler manufacturer sold 4.72 lakh units in December, as per the company in its stock exchange filing. The year-on-year growth was partially due to a low base in the same month last year as sales fell owing an intense cash crunch following demonetisation. Sales in December 2016 stood at 3.3 lakh vehicles.
Hero MotoCorp surpassed the landmark 70 lakh units in cumulative sales in 2017 as it sold a record 72,07,363 units of two-wheelers. It posted the highest ever monthly sales figure of 7,20,739 in September last year.
Commenting on the future course of action, Pawan Munjal, chairman of the two-wheeler maker said, "We are now entering the last quarter of this fiscal with a strong focus on the premium segment and scooters and we are confident of sustaining our growth momentum."
The company unveiled three new motorcycles–the 125cc Super Splendor, the 110cc Passion PRO and the 110cc Passion XPRO in December.
Shares of the company fell as much as 1.2 percent to Rs 3,723 apiece on the BSE.
Also Read: Tata Motors, Bajaj Auto Zoom Ahead, Hero MotoCorp Meets A Bump
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
