Hero Motocorp Ltd.: Hero MotoCorp sells 356,690 units in January 2023, Auto News, ET Auto
New Delhi: Hero MotoCorp Ltd., the world’s largest manufacturer of motorcycles and scooters, sold 356,690 units in January 2023.
The company expects the demand to build up in the festive and marriage season in the latter part of the month, post the commencement of the auspicious period.
Commenting on the Budget 2023 tabled in Parliament on Wednesday, Pawan Munjal, Chairman & CEO, Hero MotoCorp, said, “The budget does a very good job of balancing fiscal prudence with inclusive growth. Focus on the continued enhancement of capital expenditure, and investments in long-term priorities, coupled with increasing disposable income in the hands of consumers through direct tax proposals ensure a boost to consumption concurrent to investment-led growth. The stability of the policies, direction, and vision, as displayed through the budget today, will help the country continue to be a preferred investment destination. Overall, as India continues on its economic growth trajectory, the budget will further accelerate its momentum.”
“We believe that the budget proposals particularly around capital expenditure, agri-credit, infra-development credit, and lower tax slabs will result in higher disposable income in the hands of consumers and help the growth of the auto sector. Our suggestion is to consider a reduction of GST from 28% to 18% on two-wheelers in the next council meeting. This will go a long way in boosting the much-needed growth of this sector in particular and the overall economy in general, given the multiplier nature of this sector.” he added.
Redefining the scooter category and charting the next phase of its tech-enabled journey in the scooter segment, Hero MotoCorp, launched the new scooter – Xoom. The Hero Xoom embodies a fresh new take in the 110cc category. With an industry-first feature – the Hero Intelligent Cornering Light (HiCL), and segment-first features – bigger and wider tyres and zippy acceleration in the 110cc segment, it guarantees an unparalleled mobility experience to the owners, the company said in a media release.