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Hero MotorCorp cuts prices over GST, reports 14% sales growth in June

Hero MotoCorp, the world’s largest two-wheeler manufacturer, reported strong June auto sales and said it cut prices for its scooters and motorcycles in most states of India.

“The quantum of reduction ranges from Rs 400 to Rs 1800 on mass-selling models.” it said.

The actual benefit varies from state to state, depending on the pre and post-GST rates.

“Some of the premium segment models see a reduction of up to Rs 4000 in certain markets. In one or two states, such as Haryana, where the pre-GST rates were lower than the post GST rate, the prices of a few models have gone up marginally.”

JUNE SALES

The two-wheeler maker said it sold 6.24 lakh two-wheelers in June, up 14% from a year ago.

The company sold 5.47 lakh motorcycles in the month, a growth of 13%. It sold 77,000 scooters in June, up 22%.

“Hero MotoCorp has clocked such robust volumes in the month of June on account of strong growth in both motorcycles and scooters,” the company said.

“Motorcycle segment volume growth was supported by the wedding season and the very successful in-market activations for Hero’s portfolio of trusted brands including Glamour, Splendor, Passion, HF Deluxe and Achiever.”

“Scooters have gained volumes driven by the very effective ‘360 degree’ Go-To-Market programmes along-with the introduction of new upgrades and refreshes earlier in the quarter,” it added.

QUARTERLY NUMBERS

It said the numbers for the April-June quarter are its highest for any quarter.

The company sold 18.49 lakh units in first three months – the highest-ever sales by Hero MotoCorp in any quarter. The Company’s previous highest quarterly sales was in the second quarter of FY16-17, when it sold 18.23 lakhs units.


BAJAJ AUTO

Bajaj Auto said sales of its motorcycles in India fell 36% in June compared to the same month on 2016 to 1.08 lakh units, allowing TVS Motor Co to overtake the company in domestic motorcycle sales for the month.

Bajaj’s total vehicle sales, including motorcycles, three-wheelers and exports, were down 23% at 2.45 lakh.

Sales of commercial vehicles, which including autorickshaws, were down 25% in the month at 18,866 in India.

EXPORTS

Exports fared better. Total motorcycle exports fell only 8% on year to 96,558, while commercial vehicle exports increased 155 on year to 21,345, thus marking a rare month when the company sold more three-wheelers outside India than in its home market.

YEAR TO DATE

With this, the total number of motorcycles sold in the first quarter of the financial year shows a decline of 22% at 4.27 lakh.

Total exports — including CVs — are up 10% at 4.09 lakh for the year so far.

TVS MOTOR CO

Two- and three-wheeler maker TVS Motor Co said June sales rose 11% to 2.74 lakh units.

DOMESTIC

Domestic two-wheeler sales grew by 10.4% increasing to 228,518 units in June 2017.

Within this, scooter sales of the company grew by 33.8% to 90,448 units.

Motorcycles grew by 17.4% to 112,146.

EXPORTS

The company’s total exports grew by 13.3% to 44,389 units.

Two-wheeler exports grew by 20.8% increasing to 40,120 units.

THREE-WHEELER

Three-wheeler sales fell to 5,153 units from 7,128.

FULL QUARTER

During the first quarter of the current financial year, two-wheeler sales grew by 12% increasing to 7.85 lakh units.

Sales of three-wheelers of the Company remained at the same level as that of the corresponding quarter of the previous year at 0.17 lakh units.

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