Hero MotoCorp has 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’s sales for the last financial year (2012-13) were down 2 per cent to around 61 units compared to 62 lakh units that they sold in 2011-2012.
"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.