reported a drop of 1.96% in total sales at 6,17,215 units in February compared to 6,29,597 in February 2018.
In the first two months of the current quarter, there has been a sequential pickup in the demand, although still lower than expected, the company said in a press note after markets hours to the exchanges on Friday.
In order to provide impetus to the market, Hero MotoCorp is set to launch a slew of new products–including scooters and premium motorcycles - in the coming months, the company added.
The company expects the demand scenario to improve also on account of increased liquidity in the market through government schemes of direct benefit to farmers and various measures taken by manufacturers to boost retail sales.
The demand growth can further be stimulated if the GST rate on two-wheelers is reduced to 18% from the present 28%.
Hero MotoCorp Ltd's share price ended at Rs2,681.90, up by Rs46.95 or 1.78%, from its previous close of Rs2,634.95 on the BSE.
The scrip opened at Rs2,660 and touched a high and low of Rs2,690.80 and Rs2,640.30, respectively. A total of, 9,49,369 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs53,399.98cr.