Hero MotoCorp - September 2012 Sales Update - Angel Broking

Hero MotoCorp reported lower-than-expected volumes led by rising inventory at dealer level.

HMCL registered extremely weak volumes for September 2012 as total sales declined by 26.4% yoy (8.8% mom) to 404,787 units. Decline in volumes during the month was larger than expected and was a result of slowdown in retail sales. On account of this, there has been pile-up of inventory at the dealer end.

Source : Equity Bulls

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