According to a regulatory filing, Hero Motocorp has sold 396,107 two-wheelers in the month of April 2023 alone, and the Company expects the momentum to build up in the coming months. Sales will be driven by new product launches, healthy growth in the country’s GDP, and positive consumer sentiments.
Here’s How Company’s Sales Dipped Last Month
- The company’s motorcycle sales in the domestic market dipped to 368,830 units last month as compared to 392,627 units in April 2022, mainly due to the rural slowdown.
- The company expects momentum to build up in the coming months on account of a combination of multiple factors, including a slew of new product launches, healthy growth in the country’s GDP, and positive consumer sentiments.
Scooter Sales Jumped from the previous year
Meanwhile, scooter sales jumped to 27,277 units in April 2023 as against 25,995 units in the corresponding month a year ago.
The company’s exports, however, crashed to 9,923 units last month as compared to 20,132 units in April 2022, mainly due to a devaluation of currencies especially in Africa and other developing countries.
Hero MotoCorp’s total wholesales also declined to 396,107 units during the month under review, as compared to 418,622 units in April 2022, down 5 percent.
About Hero Motocorp
- Legend MotoCorp Restricted (previously Legend Honda) is an Indian worldwide bike and bike producer settled in New Delhi. As of May 27, 2021, the company’s market capitalization was 59,600 crore (US$7.5 billion)
- It is one of the largest two-wheeler manufacturers in the world as well as in India, where it holds a market share of approximately 37.1% in the two-wheeler industry.
Hero Motocorp Total Yearly TurnOver
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 8,300.28 Crore, down 10.29 % from last quarter’s Total Income of Rs 9,252.22 Crore and up 2.05 % from last year’s same quarter’s Total Income of Rs 8,133.30 Crore.
What Company Is Expecting?
The company expects the momentum to build up in the coming months on account of a combination of multiple factors, including a slew of new product launches, healthy growth in the country’s GDP, and positive consumer sentiments, Hero MotoCorp said in a statement.