Hero Electric Reports 100 Percent Jump In Retail Sales
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Hero Electric, India’s leading electric two-wheeler manufacturer, has clocked 24,000 retail sales during the festive period this year. According to the company, compared to last year, when Hero Electric’s festive sales stood at 11,339 units during the period from October 1, 2021 to November 15, 2021, the growth in retail sales has been more than double. The company says the recent amendment in FAME II policy and rising fuel prices has propelled the demand for electric vehicles resulting in heightened demand. With strong government support to the sector, EVs are redefining the mobility space in India and are now receiving preference for commuting with better infrastructure and awareness.
Sohinder Gill, CEO – Hero Electric, says that a significant number of customers are showing a preference for electric two-wheelers over petrol-powered two-wheelers.
Sohinder Gill, CEO, Hero Electric, said, “We saw two clear indicators in our showrooms this festive season. A significant percentage of customers chose Hero E bikes over the Petrol bikes and many factored environment and sustainability as influencing factors in their purchase. This is a good indicator for Hero and the E2W industry to step into exponential growth and bring around an EV revolution that will help reduce air pollution and make our cities a better place.”
Hero Electric’s ’30 days, 30 bikes’ festive offer aided the upward sales momentum during this period, the company announced in a statement. Under the offer, every day one lucky customer purchasing a Hero Electric two-wheeler got a chance to ride home their vehicle free, further fostering the spirit of a pollution-free festive season. Pursuing a strong sales target and market share by the end of FY2022, Hero Electric is targeting 1 million customers in the near future.
Hero Electric is one of India’s oldest, and the largest electric two-wheeler company, with a manufacturing facility in Ludhiana. Hero Electric currently has 700 and rapidly expanding sales and service outlets spread across the country, and offers a wide range of electric two-wheelers for different customers at different price points. With over 4,00,000 electric two-wheelers in India, over the past 14 years, Hero Electric has played a crucial role in developing and promoting the electric vehicle market in the country.
Questions & Answers
Q.What factors did Hero Electric identify as driving the increased demand for electric vehicles?
What factors did Hero Electric identify as driving the increased demand for electric vehicles?
The company stated that the recent amendment in the FAME II policy and rising fuel prices have propelled the demand for electric vehicles. Government support and growing awareness for EVs are also redefining the mobility space.
Q.What sales figure did Hero Electric achieve during this festive period compared to last year?
What sales figure did Hero Electric achieve during this festive period compared to last year?
Hero Electric clocked 24,000 retail sales this festive period. This is more than double the 11,339 units sold during the same period last year, from October 1, 2021, to November 15, 2021.
Q.What sales promotion did Hero Electric run during the festive season to boost sales?
What sales promotion did Hero Electric run during the festive season to boost sales?
Hero Electric ran a '30 days, 30 bikes' festive offer. Under this promotion, one lucky customer each day had the chance to receive their newly purchased electric two-wheeler for free.