Hero Honda’s July sales increase 39.8 percent

August 1st, 2008 - 7:50 pm ICT by IANS  

New Delhi, Aug 1 (IANS) Hero Honda Motors Ltd, the country’s largest manufacturer of two-wheelers, recorded a growth of 39.8 percent in unit sales in July 2008 on a year-on-year basis, the company said Friday. The two-wheeler manufacturer sold selling 281,317 units last month, as against 2,01,191 units in July 2007, it said in a statement.

The company, which has a market share of 55 percent in the two-wheeler segment, posted a consolidated growth of 17.08 percent in cumulative sales for the period of April-July 2008, selling 11,75,561 units.

Senior vice president of marketing and sales Anil Dua said sales in July were in line with its expectations despite the current credit squeeze and slowdown that the industry is facing.

Dua was optimistic that the upcoming festive season would drive sales but added a rider: “Managing high double-digit growth in the post-festive season will be a challenge and, therefore, the second half of the fiscal is going to be crucial for the overall growth in the industry.”

“We remain cautiously optimistic about the future,” Dua added.

Hero Honda, which declared its quarterly results July 29, has reported a net profit of Rs.2.72 billion showing a growth of 44 percent year-on-year.

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