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Hero MotoCorp's May sales rise 8.7%

New Delhi, June 1 (IANS) Two-wheeler major Hero MotoCorp on Thursday reported a rise of 8.7 per cent in its monthly sales for last month.

According to the two-wheeler major, its sales in May increased to 633,884 units from 583,117 units despatched during the corresponding month of 2016.

"With monsoon already hitting some parts of the country and forecast of normal rains this year, the industry is expecting a boost in demand and consumption in the rural markets," the company said in a statement.

"Having lined up a slew of new launches across various segments, the company is confident of maintaining the growth trajectory in the coming months."

Hero MotoCorp informed that its subsidiary HMCL Niloy Bangladesh has commenced commercial production at its plant.

The manufacturing facility is located at Jessore in Bangladesh and has an installed capacity of 150,000 vehicles per annum. This is Hero's second manufacturing facility at an overseas location.

The company has expanded to 35 countries across Asia, Africa and South and Central Americas. Its first overseas manufacturing plant at Vila Rica, near Cali in Colombia, became operational in 2015.