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Double Digit Percentage Growth For Hero MotoCorp In FY13 – Expectations!

Managing Director and CEO of Hero Motor Corp., Pawan Munjal said “We are very bullish for the company and I believe we will continue to grow in double digits.” at the New Delhi Auto Expo, after launching company’s first concept hybrid scooter.

Hero Motor Corp, India’s largest motor-cycle maker is expecting a huge increase in profits to the tune of a double digits percentage increase with the launch of their new hybrid scooter in the market. The sales of motor cycles have always been on a constant growth in Indian market.

With the increase in the prices and also bank interest rates, buyers are showing less willingness in cars. 6.1 million vehicles, including scooters, have been sold by Hero in the year 2011, giving a 19.2 % raise. A target is already set by the company to achieve sales of 10 million vehicles and scooters per annum, within five to six years.

But, due to the recent fall of the Mumbai market ( by 0.7%) shares in Hero Moto Corp., which were valued previously at 6.9 billion dollars were down 4.2 percent.

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