RETAILS OVER 5.5 LAKH UNITS DURING THE MONTH, INDICATING SIGNS OF DEMAND BOOST
BECOMES THE ONLY TWO-WHEELER MANUFACTURER TO OFFER 5-YEAR WARRANTY ON ALL MODELS
LAUNCHES RETAIL FINANCING OF TWO-WHEELERS WITH ‘HERO FINCORP’
New Delhi, May 01, 2013: Hero MotoCorp Ltd (HMCL), the world’s largest two-wheeler manufacturer, today reported sales of 499,113 units of two-wheelers in the month of April 2013. HMCL had sold 5,51,557 units in the corresponding month last year.
Mr. Anil Dua, Senior Vice-President (Marketing & Sales), Hero MotoCorp Ltd said, “we are glad to have opened the new financial year with despatch of close to five lakh two-wheelers in April. However, even this despatch number does not reflect the actual retail momentum during the month. Indeed, we have retailed over 550,000 units in April, which is an early indication of demand picking up for us across markets. The launch of the 5-year warranty on all our models has received an overwhelming response from our customers across the country, and we expect this move to further drive retails. Accordingly, we expect retails sales to stay buoyant even in May. It’s a strategic move on our part, however, to rationalize our despatches.
“Going forward for the overall industry growth, a lot will also depend on the monsoon and overall economic activity,” he added.
In keeping with its glorious tradition of setting new benchmarks, Hero MotoCorp had announced in April the country's first-ever warranty of 5 years on all its two-wheelers (5 years or 70,000 km on motorcycles, whichever is earlier and 5 years or 50,000 km on scooters, whichever is earlier). This 5-year warranty is also an expression of the company’s confidence in the unparalleled quality of its products, backed by strong R&D and excellent manufacturing capabilities.
Hero MotoCorp Ltd also launched its own retail finance arm, Hero FinCorp, in the month of April. The company plans to have a phase-wise expansion of Hero FinCorp services. Having been launched in Delhi, the retail financing services will shortly be extended to the National Capital Region (NCR) and then to the rest of the northern market in the next phase. The initial plan is to make Hero FinCorp services available at about 200 dealerships in various parts of the country by March 2014, and extend it to as many as 450 dealerships by March 2015.
Hero FinCorp, (formerly Hero Honda FinLease), had earlier limited operations and it used to support some of the component suppliers and dealers of the company by financing their working capital expenditure and medium-term financing etc.
Hero MotoCorp also offers easy financing options to its customers at its dealerships all over the country through its partner-financiers – HDFC, IndusInd Bank, Shriram City Union Finance Ltd, and Fullerton.
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