Country's largest two-wheeler maker Hero Honda on Friday reported a 39.8 per cent jump in sales in July at 281,317 units as against 2,01,191 units in the corresponding month last year.
The company said cumulative sales for the April-July period this year crossed a million mark at 11,75,561 units as against 10,04,044 units in the corresponding period last year, reflecting a 17.08 per cent growth.
"We continue to drive growth in the domestic motorcycle market despite all the prevailing constraints on account of the high interest rate regime and double digit inflation. We will persist with our strategy of strengthening our brands and expanding new markets in semi-urban, rural and upcountry areas," Hero Honda Motors Senior Vice-President (Marketing & Sales) Anil Dua said.
He said the company expected to continue the growth, particularly with the forthcoming festive season.
"However, managing high double digit growth in the post- festive season will be a challenge, and therefore, the second half of the fiscal is going to be crucial for the overall growth in the industry for the year. As we have maintained before, we remain cautiously optimistic about the future," he said.
The company said it has strengthened its share in the domestic motorcycle market at near 55 per cent.
The consistent performance comes on account of key Hero Honda brands driving strong volumes across segments, it said.