Hero MotoCorp has witnessed a drop of 4.8% in its February 2017 sales from the same month last year. The number this year was 5,24,766 while they sold 5,50,992 units in the same month in 2016. Still, Hero MotoCorp is the number one brand when it comes to the overall number of motorcycles sold in the month of February.
Honda is actually on the other side of the table as they have gained the same percentage of sales within the same period. They are followed by Bajaj Auto and TVS respectively. They collectively form a large chunk of total sale in the Indian market. Hero MotoCorp is said to rely heavily on the rural sales.
Demonetization had the worst effects on the rural parts of India which inturn had an effect on major player that deal in the entry level segment. Manufacturer's that are relying on high end products had the least effect as people preferred paying without cash. Hero MotoCorp has rolled out attractive finance schemes to cover their loss.
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