Country’s largest two-wheeler maker Hero MotoCorp today said it expects sales to pick up in the festive season after having witnessed a slowdown in the past couple of months.
“Going forward,I am personally very hopeful and pretty sure that from the month of October,when the festive season begins,we will see a positive push in the retail sales,” Hero MotoCorp MD and CEO Pawan Munjal said.
Speaking on the sidelines of annual convention of Automotive Component Manufacturers Association of India (ACMA) here,he said the two-wheeler industry has slowed down like the whole economy.
“Thankfully this has happened in the two-wheeler industry much later then the rest of economy. For the month of July and August,the retail sales have been slow,” Munjal said.
Hero MotoCorp had reported 11.88 per cent decline in sales at 4,43,801 units in August.
He,however,said the company is prepared to meet the demand that is expected to come during the festive season.
“I am also in a way glad that we manged to put out stocks in the market for the festive season. Normally it is not easy for us to give the kind of supplies that the market requires during the festive season,” Munjal said,adding that the firm
would have sufficient stocks.
The company should have very good retail sales starting from October till Diwali,he added.
When asked about sales for the whole fiscal,Munjal said: “We would like to watch the festive season. Once it ends,we will be able to say what is going to happen for the whole year.”