This decision of Hero MotoCorp has nothing to do with the slop economy in terms of auto industry but is a part of annual routine and also to adjust production in line with current market demand
New Delhi: The country's largest two-wheeler maker Hero MotoCorp on Friday (August 16) said its manufacturing plants have been shut for four days till August 18 to as part of annual routine and also to adjust production in line with current market demand.
In a regulatory filing, Hero MotoCorp said its manufacturing facilities will be closed from August 15 to 18.
"While this has been part of the annual holiday calendar on account of Independence Day, Raksha Bandhan and the weekend, it also partly reflects the prevailing market demand scenario," the company added.
Hero MotoCorp further said production planning is a matter of advance monitoring of the market dynamics and prudent demand forecasting.
"This helps us to plan our production well in advance, thereby enabling us to stay flexible both in terms of volumes and production schedules," the company said.
Hero MotoCorp has been reducing its production due to decline in sales. In the April-July period this year, the two-wheeler market leader's production was at 24,66,802 units, down 12.03 per cent from the year-ago period.
In the fiscal year ended March 31, the homegrown two-wheeler major sold 78,20,745 units as compared to 59,00,840 units sold by Honda Motorcycle and Scooter India (HMSI), according to the latest sales figures issued by the companies.
In the fiscal 2017-18, Hero MotoCorp sold 75,87,130 lakh units, while HMSI sold 61,23,877 units. Thus, Hero's lead over HMSI increased by 19,19,905 lakh units in FY19 as compared to 14,63,253 units in FY18.
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Last Updated Aug 16, 2019, 3:23 PM IST