The third quarter (October-December) of financial year (FY) 2015-16 was significant for HMCL, as we achieved two important milestones. We successfully launched Maestro Edge and Duet scooters � the first of the products developed by our own in-house R&D team. Both of these new scooters have received positive response from the customers. Secondly, in the festive quarter, we set yet another benchmark by surpassing the million-mark in retail sales during the 35-day festive period.
The domestic two-wheeler market continues to be sluggish; we expect sentiments to remain subdued for the next couple of quarters. Demand in rural markets has been severely impacted due to two consecutive sub-normal monsoons. We may see a positive turn-around towards the second half of the next fiscal if we have a good monsoon and sentiments change in the rural market.
Hero MotoCorp Ltd. (HMCL), the world�s largest two-wheeler manufacturer, today reported the financial performance for the third quarter (October�December�15) of FY�16.
Backed by its winning brands, including Splendor, Passion, Glamour, HF Deluxe, Super Splendor and the recently introduced new scooters � Maestro Edge & Duet, HMCL reported sales of 16,90,354 units in Q3 FY�16.
Hero MotoCorp�s first completely in-house developed products � Maestro Edge and Duet helped HMCL cross the landmark figure 1 lakh scooter despatches in October 2015. The popularity of the scooters also helped in improving the company�s scooter market share to over 20% in December 2015.