BS reported that Hero Honda Motors is looking to sell more than a million units in each of the next Q3, even though market conditions may not be in favor of the two wheeler market.
The New Delhi based two wheeler company also the world’s largest is aiming for an overall growth of about 25% in sales by the end of the financial year, which will take its tally to about 4.5 million units, up from 3.64 million units last year.
However, according to industry experts, the two wheeler industry itself is expected to register less than double digit growth due to continued lack of focus by financiers such as banks.
The two wheeler industry, comprising motorcycles, scooters, mopeds and electric bikes, witnessed sales of 7.43 million units last financial year. Meanwhile, growth for Hero Honda’s traditional rivals such as Bajaj Auto and TVS Motors has been minimal, largely due to their absence in the rural and semi rural sector.
| Company | Apr'08-Jun'09 | Apr'09-Jun'10 | Change |
| Hero Honda | 877,089 | 1,094,996 | 24.8% |
| Bajaj Auto | 391,100 | 331,731 | -15.1% |
| TVS Motors | 292,530 | 315,785 | 7.9% |
| Honda | 226,068 | 284,890 | 26% |
| Total Market | 1,865,767 | 2,135,869 | 14.4% |
(Sourced from SIAM)
This is expected to expand to 8 million units this year.
(Sourced from Business Standard)