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HERO HONDA IS NO-1 AGAIN, THIRD YEAR IN A ROW. CROSSES THE 2 MILLION SALES MARK - Another World Record

Thursday, April 01, 2004

MARKET SHARE INCREASES BY 3% POINTS

Propelled by the tremendous success of all of the new models launched during the FY 2003-04, Hero Honda - the ‘World No. 1’ two-wheeler company achieved a new record of over 2 million motorcycles in a single year. The company sold 2070157 motorcycles during the year, a phenomenal jump of 23 % over previous year sale of 1677537 motorcycles.

In March, the company sold 192181 motorcycles, growth of 66% as compared to sales recorded during the corresponding month last year (1,15,722 units).

MARKET SHARE RISE BY 3% Points
Leading the industry growth almost single handedly, the company would end the year with 47% market share in motorcycles - a remarkable increase of 3 per cent over last fiscal. The company had ended the FY 2002-03 with a 44% market share.

GROWS FASTER THAN THE INDUSTRY, ON A BASE OF 1.68 MILLION UNITS fortifying its undisputed leadership, the company recorded 23 % sales growth for the full year. As against a 13% sales growth recorded by the motorcycle industry during the first eleven months (April-Feb), Hero Honda grew by 20%.

NEW MODELS – A COMPREHENSIVE SUCCESS 
All the five models launched by the company during the year: the entry-level CD-Dawn; Splendor+ and Passion Plus with enhanced styling; the country’s first premium sports bike, Karizma; and the restyled Ambition135 were all-round successes.

Mr. Brijmohan Lall, Chairman, Hero Honda Motors Ltd, applauding the company’s performance, said, “This new world record of selling 2 million motorcycles exemplifies the potential of the company and the unmatched equity of the Hero Honda brand. It is pleasing to note that the company performed equally well in all the four zones of the country- a unique strength. I would like to take this opportunity to congratulate and thank the entire Hero Honda team, and all our partners and associates, for their invaluable contribution.”

Enthused by the world record performance Mr. Pawan Munjal, Managing Director, Hero Honda Motors Ltd., said, “This is a direct outcome of our customer focused strategies. Comprehending the changing customer needs and fulfilling them with matching products has been our core strength. During the year, the company once again demonstrated its intrinsic capabilities. Going forward, we would continue to offer products with the latest technology, styling and performance.”

Mr. Atul Sobti, Senior Vice President, Marketing & Sales, Hero Honda Motors Ltd., said, “With the voluminous success of CD-Dawn, Splendor+ and Passion Plus, the company ended the year with an undisputed leadership of the entry and the executive segments - the core of the Indian motorcycle industry. The company also strengthened its position in the premium segment with the launch of Ambition135 .

EXPORTS UP By 72 % 
The company increased its exports by 72 %, selling 39,255 bikes in the FY 03-04.

OTHER RECORDS AND ACHIEVEMENTS 
The year saw the company recording another astonishing world record - selling over 2 lac units in a single month, thrice during the second half of the current fiscal.

Hero Honda had recorded superb financial results during the first nine months of the financial year – the full year results will be announced soon. The company’s financial performance was globally acknowledged with the company receiving two of the most reputed awards – In the Review 200 Survey ‘Far Eastern Economic Review’ranked it third amongst Indian corporates. It also received the Value Creator Award by ‘Outlook Money’.

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