Cost of two-wheelers will further go up in the new Year : Pawan Munjal, Chairman, Hero Motocorp
Biznext India : “The cost of two-wheelers will further go up once the new set of regulations around safety comes into force, followed by the transition to BS-VI emission norms. All these will put severe stress on the extremely cost-sensitive commuters, for whom the two-wheeler is a lifeline. Given that two-wheelers provide basic mobility to the masses, there is an urgent need to reduce the GST rate on two-wheelers from the 28% bracket of ‘luxury goods’ to that of 18% for mass usage items. This will provide the much-needed relief to millions of two-wheeler customers across the country, as well as the entire value chain dependent on the sector. It is absolutely imperative to ensure growth in the auto sector to create and sustain inclusive economic growth” said Pawan Munjal, Chairman, Hero Motocorp.
“With an improved liquidity in the market, and the upcoming festive season in many parts of the country, the industry is expecting a positive turnaround in the fourth quarter” he said.
Hero MotoCorp has sold a record 8,039,472 units of motorcycles and scooters in the January-December period. For the Financial Year (FY) 2019, the cumulative sales of the Company in the nine-month period (Apr-Dec 2018), has now risen to 6,037,901 units. In December 2018, Hero MotoCorp sold 453,985 units, compared to 472,731 units in the corresponding month last year (December 2017).