Hero MotoCorp's sells 4,86,704 units in May

The company sold 4,18,622 units in April and 1,83,044 units in May 2021 when the sales were impacted due to the resurgence in Covid-19 cases and subsequent lockdowns.

Commenting on the performance, Executive Director at Hero MotoCorp Vikram Kasbekar said, "We welcome the recent decision of the government to reduce the central excise duty on petrol and diesel, which has substantially brought down the fuel costs, thereby providing a much-needed relief to motorcycle and scooter users in the country.

"We also welcome the steps taken to cut duties on iron and steel inputs, which should help in softening steel prices in the domestic market.''

While appreciating the favourable steps undertaken by the government, he said, “The increase in the third-party insurance rates would, however, adversely impact customer sentiments at a time when the industry has just started to recover, as this will further increase the upfront costs of two-wheelers in India."

"It is not usual to have insurance paid for 3-5yrs instead of annual renewals, as is generally the case in many countries. The industry seeks government intervention and support in this regard.

"The two-wheeler industry provides employment to millions of people, thereby playing the role of an income enabler in the economic growth of the country and we need to continue to support its revival and growth." he added.

In May, the two wheeler manufacturer launched the new edition of the iconic motorcycle Splendor - the Splendor+ XTEC.