Having led the growth of the industry throughout the year, two-wheeler market leader Hero Honda Motors ended fiscal 2008-09 in style with better than expected results in the January-March quarter.
The company's turnover during the quarter swelled by 22.24 per cent at Rs 3,422.52 crore taking its overall turnover for the full fiscal to Rs 12,356.88 crore, up 19.22 per cent over 2007-08. Apex industry body Society of Indian Automobile Manufacturers has projected a 0-5 per cent growth rate for the two wheeler industry in the current fiscal but the company said it is sure it will do better than that.
"We will safely produce 4 million units across our three plants this year but our effort would be to push up our sales beyond that," said Anil Dua, senior vice president (sales and marketing).
CEO and MD Pawan Munjal said bank loans were an issue. “The percentage of sales through finance used to be 50 per cent in 2006-07. It came down to 30-35 per cent last year and now it is down to 25 per cent,” he said.