Hero MotoCorp reported 11.36 per cent decline in their overall sales for March. The company sold 4, 68,283 units in March as compared to 5, 28,290 units in the same month last year.
The company saw a decline in overall sales by 2 per cent where they managed to sell 61 lakh units in 2012-2013 as compared to 62 lakh units which they sold during the 2011-2012 financial year.
"Indian auto industry faced acute slowdown in FY'13. It continues to reel under the adversities of persistent inflation, firm interest rates, rising fuel prices and negative consumer sentiment. All these factors have adversely impacted the growth of the industry and the company's sales volumes" said Anil Dua, SVP (marketing and sales).
"Going forward, we have planned new launches, new campaigns, capacity addition and network expansion to boost the sentiment of the domestic industry and accelerate growth. In the new financial year, we will also commence our international operations in several new markets to work towards our global vision" he added.