FY 2017: Hero, HMSI record best-ever sales of 2-wheelers

Two-wheeler majors Hero MotoCorp and Honda Motorcycle and Scooter India (HMSI) reported record annual sales in 2016-17 despite being impacted by demonetisation in the later part of the year.

Hero MotoCorp closed the year with its best ever annual sales of 66, 63,903 units compared to 66, 32,322 units in the previous fiscal, a marginal increase of 0.47 per cent. On the other hand, HMSI posted 11.7 per cent jump in its sales in FY201617 with all time high of 50, 08,103 units as compared with 44,83,462 units sold in 2015-16, reports PTI.

HMSI has become the first wholly-owned arm of Honda Motor Co Japan globally to ever achieve 5 million sales land mark in a single financial year. Another main player Bajaj Auto, however, reported 4 per cent decline in its total two-wheeler sales in 2016-17 at 32, 19,932 units as against 33,58,252 units in the previous fiscal. The twowheeler industry was badly hit by demonetisation announced in November last year as rural sales took a beating.

Hero MotoCorp said it was able to sustain a steady demand for its popular range of two-wheelers amidst a challenging economic and industry environment. Commenting on the sales performance, HMSI, SVP, Sales and Marketing, Y S Guleria said, "In the beginning of 2016-17 especially after monsoon and 7th central Pay Commission, industry was hopeful of double digit growth."