NEW DELHI: Late withdrawal of this year's monsoon season, along with a dampened festive season demand, hurt two-wheeler company Hero MotoCorp's overall sales, on a year-over-year basis, in November.
The Auto major said, last month's overall sales fell to 349,393 units, down from 591,091 units sold in the same time the previous year. "Delayed harvesting due to late monsoon withdrawal in several regions of the nation hampered demand after the festival season," the company stated.
"A rapid comeback in sales is forecast in the fourth quarter, with the economy gradually opening up and various other positive indicators, such as encouraging farm activity, an optimistic consumer index, and the marriage season." The company anticipates that momentum in the two-wheeler market will resurface as commodity prices decrease, boosted by the reduction in gasoline excise duty. Additionally, the Centre's enhanced capital spending is projected to bolster the company's volumes, according to the report.
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