India's largest two-wheeler maker has seen a dramatic turnaround as the country reopened the economy slowly after imposing one of the world's harshest Covid-19 lockdowns. Yet, analysts caution that it may be too early to say that things have fully recovered.
Numbers, on their own, point to a turnaround. Within a month of the reopening of the economy, Hero MotoCorp Ltd.'s sales were within 4% of the pre-lockdown levels.
The next three months saw volumes of the maker of Xpulse and Splendor grow 8%, 17% and 35%, respectively, including its highest sales of more than eight lakh units in October.
The recovery also includes a 58% and 28% growth in the company's exports in September and October, respectively.
