HERO MOTOCORP TARGETS DOUBLE DIGIT GROWTH FY13

Hero MotoCorp, India's largest motorcycle maker, expects double-digit percentage growth in sales to continue for the fiscal year starting in April 2012, a top official said on Friday 6/1/2012.

Undoubtedly, rising interest costs and increasing prices have deterred buyers of cars in India in recent months, but sales of motorcycles, used as a family vehicle by millions of Indians, have largely seen strong growth

Managing Director Pawan Munjal is reported to have said at the New Delhi Auto Expo, after unveiling the Company's concept hybrid Scooter, "We are very bullish for the company and I believe we will continue to grow in double digits"

Scooters currently form a tiny part of total sales, but Munjal said that growth in the segment was faster than for motorcycles.

Readers of this Blog might be aware that HERO MOTOCORP is reported to have set a target of achieving annual sales of 1 crore vehicles within five to six years, with 10 percent of volumes from overseas markets.