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Hero Honda Motors (HERHON)
• Hero Honda Motors saw another 4 lakh plus units monthly sale,
which has been the norm since April 2010. With capacity
constraints easing along with capacity additions, volumes are
expected to be higher in the coming months
• The company registered volume of 421,366 units, an impressive
10.5% YoY rise on a large base. However, it expectedly dipped
16.7% MoM from its 5 lakh plus festive season high. The three day
holiday on occasion of Diwali led to a loss of ~40,000-50,000 units
• The scooter segment has continued to show an increase with a
segment growth of 63.7% YTD. The strong performance of
Pleasure has reflected the growing market acceptance as monthly
sales reached 29,128 units, a 78.8% MoM jump
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