Hero Honda Motors, the biggest motorcycle maker in India, is reporting a massive 49 percent increase in net income for the fourth quarter. Sales of bikes like the Splendor and the CBZ have skyrocketed recently, as more and more people are enjoying higher levels of disposable income. Add that to the fact that bikes are hugely popular in the crowded and congested region, and it's no wonder Hero Honda is such a major player in the industry.
Hero Honda, which is 26 percent owned by the Honda Motor Co. of Japan, sold 1.19 million scooters and motorcycles in the last quarter. For the financial year that ended last month, the company was able to increase sales 24 percent, for a record of 4.6 million bikes sold. Hero, indeed!
Best yet, there doesn't seem to be any slowdown in sales in sight. Experts are predicting that India's $1.2 trillion economy will grow almost 10 percent in 2010. According to the World Bank, it's the fastest growing economy in the world, second only to China.
