Two-wheeler market leader Hero MotoCorp on Friday reported 1.96 per cent decline in total sales at 6,17,215 units in February. The company had sold 6,29,597 units in the same month last year, Hero MotoCorp said in a statement.
In the first two months of the current quarter, there has been a sequential pick-up in the demand, although still lower than expected, the company said.
“In order to provide impetus to the market, Hero MotoCorp is set to launch a slew of new products – including scooters and premium motorcycles – in the coming months,” it added.
The company further said it expects demand scenario to improve also on account of increased liquidity in the market through government schemes of direct benefit to farmers and various measures taken by manufacturers to boost retail sales.
“The demand growth can further be stimulated if the GST rate on two-wheelers is reduced to 18 per cent from the present 28 per cent,” it said.