Hero MotoCorp Ltd is the largest maker of two-wheelers in the world and it expects double-digit percentage growth in sales for the fiscal year starting in April.
Managing Director Pawan Munjal stated at the New Delhi Auto Expo that the company has unveiled its first hybrid scooter and they see the growth to occur at double digits every year.
The reason stems from the logic that car buying is being postponed in India due to rising finance costs and increasing prices have kept the buyers at bay. However this has boosted sales of motorcycles which is a family vehicle for a million of Indians.
Just for the readers knowledge, Last year, Hero Investments bought Honda Motor Co's 26% stake in Hero MotoCorp, and the company's name was changed from Hero Honda Motors.
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