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Hero MotoCorp sales fall 4% in July, surpass 5 lakh units

BusinessToday.In     August 1, 2020

Hero MotoCorp, the country's largest two-wheeler maker, on Saturday reported a 3.97 per cent year-on-year decline in sales at 5,14,509 units in July. The company had sold 5,35,810 units in the same month of last year. On the sequential basis, the auto major reported a growth of 14.14 per cent as compared to 450,744 units in June 2020, despite the prevailing economic slowdown due to COVID-19 pandemic.

The domestic sales stood at 5.07 lakh units as compared to 5.11 lakh in July 2019, while exports fell sharply to 7,563 as against 24,436 in the corresponding period last year. Motorcycles sales were 4.78 lakh units and scooters sales stood at 35,843 units as against 4.9 lakh and 45,752 units, respectively, in the year-ago period.

The company said it has achieved more than 95 per cent of wholesale dispatch numbers of the same month in the previous year on the back of strong retail sales and market demand.

"The robust volumes have been driven by strong retail sales due to the positive market demand," Hero MotoCorp said. While there is cautious optimism on the demand trajectory going forward, sales continue to be impacted by the micro-lockdowns in several parts of the country, it said.

"For the growth momentum to continue, it would be pertinent for state and local authorities to provide a stable and consistent business environment as the situation evolves," it added.

Hero MotoCorp said it has made significant progress in ramping-up the production across all of its eight manufacturing facilities - six in India and two at global locations. More than 95 percent of the company's customer touch-points are currently operational, with strict safety measures and protocols in place, it added.

Also Read: Hero MotoCorp domestic sales fall 27% to 4.5 lakh units in June

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