Hero MotoCorp Sales Drop 40% To 3,49,393 Units In November 2021
In November, Hero MotoCorp, the country’s largest two-wheeler manufacturer, reported a 41% reduction in overall sales to 3,49,393 units. Hero MotoCorp stated in a statement that in the same month the previous year, the business sold 5,91,091 bikes.
The company’s wholesales in the domestic market fell to 3,28,862 units last month from 5,75,957 units in November 2020. In November, motorcycle sales totaled 3,29,185 units, while scooter sales totaled 20,208 units.
“Delay in harvesting due to late monsoon withdrawal in several regions of the nation reduced demand after the festival season,” the business said.The economy is progressively opening up, and several other positive signs, such as encouraging farm activity, an optimistic consumer index, and marriage season, are projected to boost sales in the fourth quarter, according to the report. The business stated that its electric vehicle (EV) project is on track, and that its Chittoor manufacturing facility in Andhra Pradesh is preparing to create the green vehicles. Last month, the company’s exports grew to 20,531 units, up from 15,134 units the previous month.
“Additionally, commodities prices are showing indications of easing, assisted by the lowering of fuel excise duty, and greater government investment on capex initiatives is likely to re-energize the two-wheeler industry,” Hero MotoCorp said.On the BSE, Hero MotoCorp’s shares closed 0.08 percent lower at 2,445.90 per share on Wednesday. On the BSE, Hero MotoCorp shares opened at 2,461.35, touching an intraday high of 2,479.70 and an intraday low of 2,438, so far in the trading session.
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