Hero MotoCorp has sold a total of 75 lakh two-wheelers in the financial year 2017-18. In comparison, the company sold a total of 66.6 lakh two-wheelers in the 2016-17 fiscal. This is the first time that the company has achieved this number and it accounts for its best-ever sales till date. In comparison to the FY2016-17, the company had sold 66.6 lakh bikes and scooters. Hero MotoCorp intends to achieve 1 crore annual unit sales by the year 2020. The company continues to hold more than 50 percent market share in the motorcycle segment. “A world record has been created on March 28, three days ahead of the close of the current financial year 2017-18. The company has surpassed 75 lakh unit sales mark", Hero MotoCorp said.
The company has launched four new products in the financial year 2018-19. These go by the names Xtreme 200R, Passion Pro, Passion XPro and new Super Splendor. Besides, the company had showcased three new products at the Auto Expo 2018 that go by the names Maestro Edge 125, Duet 125 and XPulse. Speaking on company's performance, Pawan Munjal, Hero MotoCorp MD and CEO said, “With an enhanced focus on the premium segment and scooters, we are confident of carrying the growth momentum forward." Last month, the construction of Hero MotoCorp's eighth manufacturing facility in Chittoor, Andhra Pradesh commenced. With the addition of this facility, Hero MotoCorp will have a cumulative capacity of 1.1 crore units annually. Currently, it has an installed capacity of 92 lakh units per annum.
Hero MotoCorp has five production facilities in India with the other two in Bangladesh and Columbia. For the new factory, Hero MotoCorp will be investing close to Rs 1600 crore and the plant is expected to get operational before December 2019. According to Hero MotoCorp, the new production facility will generate 2,000 jobs with an additional 10,000 opportunities. The said plant can turn out to be the company's hub to export vehicles to some of its overseas markets.