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Hero Honda Q3 Profit Rises 20%

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MUMBAI , India (Feb 1) – India’s top motorcycle maker, Hero Honda Motors Ltd., posted a better-than-expected 20 % rise in profit on robust sales. Hero Honda, has driven a boom in India’s US$4 billion market of nearly 5 million bikes a year, fuelled by cheap loans, rising incomes, new models and a shift in […]

MUMBAI , India (Feb 1) – India’s top motorcycle maker, Hero Honda Motors Ltd., posted a better-than-expected 20 % rise in profit on robust sales.

Hero Honda, has driven a boom in India’s US$4 billion market of nearly 5 million bikes a year, fuelled by cheap loans, rising incomes, new models and a shift in preferences to motorbikes from scooters.

New Delhi-based Hero Honda, in which India’s Munjal family – owners of the world’s biggest bicycle company – and Japan’s Honda Motor Co. each hold 26%.

Bike makers are betting on continued growth as more than half of India’s billion-plus population is below the age of 25 and a motorbike is usually the first vehicle purchased by young men in India.

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