Only a week after Bajaj Auto MD Rajiv Bajaj mentioned that the two-wheeler gross sales stay low, market chief Hero MotoCorp posted document gross sales within the month of October.
Indian multinational two-wheeler firm Hero MotoCorp Ltd witnessed the highest-ever gross sales in a single month in October 2020 after the corporate offered over 8 lakh bikes and scooters on this month alone. As per a press release issued by the corporate, Hero MotoCorp recorded a development of 35 per cent as in comparison with the corresponding month of final years. In October 2019, the corporate had offered 599,248 items whereas this month 806,848 items have been offered by the corporate.
Hero motocorp sells 8 lakh automobiles in Oct. Simply when Bajaj was saying demand isn’t that a lot. pic.twitter.com/0BnUq2VpMt
— Deepak Shenoy (@deepakshenoy) November 1, 2020
On this, the sale of Bikes was 7,32,498, whereas 74,340 scooters have been offered by the corporate within the month. The corporate exported round 15,000 items, whereas the remaining 7.91 lakh items have been offered within the nation. The corporate’s sale within the earlier month was 7,15,718, which suggests it achieved a development of 12.73% in a single month. Hero MotoCorp stays primarily a bike producer, as above 90% of the entire two-wheeler sale got here from bikes, whereas scooters accounted for simply above 9%.
It might be famous that the numbers launched by Hero replicate vendor dispatches, they aren’t retail gross sales. However sellers place orders primarily based on retail demand, subsequently the numbers are indicative of retail demand.
This spectacular efficiency by Hero contradicts the claims made by Managing Director of rival firm Bajaj Auto, Rajiv Bajaj with respect to the gross sales of two-wheelers. He had mentioned that he was not upbeat about demand coming again throughout the remainder of the fiscal yr. Ther had blamed new rules resembling ABS, BS 6 and so forth for the slowdown within the sector, and had additionally blamed the insurance policies of the federal government.
Calling the lockdown positioned by the federal government resulting from lethal coronavirus pandemic as “draconian lockdown”, Bajaj had mentioned that he was not hopeful concerning the calls for growing throughout the remainder of the fiscal yr as a result of they have been hit by the lockdown.
Supporting the report of Federation of Auto Sellers Affiliation (FADA) that had predicted that the demand for two-wheelers can be decrease than the final yr through the festive season, Bajaj had mentioned that gross sales for Baja Auto’s 100 cc bikes have been decrease by 30 per cent whereas gross sales of premium bikes skilled development. He added that gross sales of three-wheelers have been recorded at 40 per cent of the final yr.
Whereas October sale figures for Bajaj just isn’t accessible but, the corporate had offered 4,04,851 items of two-wheelers in September, with highest-ever export of 1,85,351 items. The corporate’s September 2020 sale was 20% greater than September 2019 gross sales. This implies, it’s incorrect to say that Bajaj two-wheeler sale is adversely impacted by the lockdown now, as the corporate improved its sale within the final month.
After the October sale figures of Hero MotoCorp was launched, journalists working within the monetary sector and social media customers slammed Rajiv Bajaj for panting dismal image for the sector, which had led to the autumn within the share costs of the two-wheeler manufacturing corporations.
Bajaj’s India Bashing
Final month, Bajaj had decided to cease funding the information channels that he thought have been “poisonous information channels” saying that he didn’t need his kids to inherit an India constructed on hate. He mentioned that their model had by no means been related to something that they felt was a supply of toxicity within the society.
