Hero Electric posts over two-fold jump in festive season retail sales during Oct 1-Nov 15, Auto News, ET Auto

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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, he added.
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, he added.

Hero Electric on Wednesday reported over two-fold jump in festive season retail sales at 24,000 units during October 1 to November 15, 2021. The company had clocked 11,339-units in the same period a year ago, the company said in a statement.

The recent amendment in FAME II policy (Faster Adoption and manufacturing of electric vehicles in India), which offers increased upfront incentives for electric two-wheelers and rising fuel prices has propelled the demand for electric vehicles resulting in heightened demand, the company said in a statement.

Commenting on the sales performance, Hero Electric CEO Sohinder Gill 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, he added.

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The production schedules of two-wheeler makers suggest a 20-35% fall in output compared with both their earlier plans and the October output, according to people in the know. The situation may continue into December and cause the two-wheeler market to shrink in fiscal 2022 – making this the third straight year of volume decline for an industry catering to the personal mobility needs at the bottom end of the pyramid.

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