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Hero MotoCorp's sales decline over 12% to 4.54 lakh units in July

Hero MotoCorp's sales decline over 12% to 4.54 lakh units in July

The company's sales in domestic market declined over 16 per cent to 4,29,208 units during July from 5,12,541 units sold in the same month of 2020.

The company sold 4,24,126 units of motorcylces during the month as against 4,84,260 in July 2020. The company sold 4,24,126 units of motorcylces during the month as against 4,84,260 in July 2020.

Two-wheeler major Hero MotoCorp on Sunday reported a 12.6 per cent year-on-year (YoY) decline in sales of motorcylces and scooters during July 2021 at 4,54,398 units. The company had sold 5,20,104 units in July 2020.

While most of the company's touch-points are operational across the country, localised lockdowns imposed by certain states in the wake of sporadic coronavirus cases continue to restrict the customer movement, Hero MotoCorp said in a release.

The company sold 4,24,126 units of motorcylces during the month as against 4,84,260 in July 2020, while sales of scooters stood at  30,272 units as compared with 35,844 units sold in the year-ago month.

The company's sales in domestic market declined over 16 per cent to 4,29,208 units during July from 5,12,541 units sold in the same month of 2020.

"India's rural economy and semi-urban market is expected to bounce back on the hopes of good monsoon and customers' preference for personal mobility. Hero MotoCorp continues to monitor the on-ground situation and remains optimistic about continuously improving consumer sentiment in the coming months with the onset of the festive season," it said.

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Exports, on the other hand, grew over 200 per cent to 25,190 units last month from 7,563 units in July 2020.

In keeping with its aggressive expansion plans in global business, Hero MotoCorp said it commenced retail sales in the key market of Mexico. The company introduced an extensive portfolio of products, including motorcycles and a scooter.

"These include popular motorcycles such as the Xpulse 200, Xpulse 200T, Hunk 190, Hunk 160R, Hunk 150, Eco 150 TR, Eco 150 Cargo, and Ignitor 125, and the Dash 125 scooter," it said.

Meanwhile, Hero MotoCorp launched two new vehicles in 125cc segment in the domestic market during the beginning of the quarter -- motorcycle Glamour in 'Xtec' avatar and new Maestro Edge 125 scooter.

Shares of Hero MotoCorp had ended 0.63 per cent higher at Rs 2,764.10 on the BSE on Friday.

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