Backed by superior products, Hero Cycles leads industry sales in July
Hero Cycles, the world’s leadingbicycle manufacturer pedalled strongly against an overall industry slowdown and delivered a thumping statement of assertion with sales of 4.24 lac units in the month of July. This impliesan 18% month on month growth in sales and a phenomenal 30% year over year by the Ludhiana and London based cycle giant as compared to all other cycle manufacturers in India. Most interestingly this surge in market share gain was fuelled by a host of new products which have been Hero’s story of success in recent times. In the domestic mix the rapidly growing ‘ Sprint’ brand, coupled with the newly launched
‘Jet Power’ have proven to be the drivers of significant growth and product differentiation in a category which is marred with minor product upgrades from most manufacturers. Both these product embody Hero’s commitment to constantly provide product upgradation and keep up with the ever changing demands of the consumer. While Sprint is clearly growing to be the choice of the new generation. Jet Power has very successfully created a sense of renewed rigour and excitement in the roadster segment with the product’s technological upgradation and highest ever and industry first safety standards. Another considerable contribution to this growth story has been the concerted growth and acceptance of the global products being designed and delivered through the state of the art facility Hero Global Design ( HGD) facility in Manchester. In terms of numbers, Exports have grown at 3X rate to 49K this month compared to last year. This again has been possible with timely deliveries and well-oiled manufacturing facility at Sri Lanka which has been instrumental in feeding the rapidly growing cycles demand globally. Speaking on this stellar performance CMD Hero cycles opined “This outstanding achievement has been our labour of love and only reinforces the spirit of Hero Cycles. We have been continuously striving to build a pipeline of superior products designed for today’s diverse set of customers and ensuring we deliver impeccably on product performance. We are streamlined to lead in the Indian cycle market with global products and also upgrade the existing bottom of the pyramid customers. While there has been an overall industry slowdown, we have believed in focussing on our strengths and the results are for all to see with us clocking 4.24lac units in the month of July. We are now focussed on transforming the category with the injection of technology and very soon would have products which would redefine the way India sees and rides a bicycle.” said Mr Pankaj Munjal, Chairman and Managing Director, Hero Cycles.