Hero MotoCorp witnesses 4 pc drop in sales in May, export rises
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Two-wheeler manufacturing company Hero MotoCorp sold 498,123 units of motorcycles and scooters in May 2024, down 4.1 per cent from 519,474 units sold in May last year.
Despite this decline, the company experienced a 12.6 per cent growth in the first two months (April-May 2024) of the fiscal year 2025 (FY25), selling 10.31 lakh units versus 9.15 lakh units in the same period last year.
"The company has sold 10,31,708 units in the first two months of the financial year FY25, registering a growth of 12.6 per cent over the corresponding months (Apr-May’23) when the company sold 915,581 units," the two-wheeler manufacturing firm said.
In the motorcycle segment, Hero MotoCorp sold 4.71 lakh units in May 2024, which is a 3.7 per cent decrease from the 4.89 lakh units sold in May 2023. The scooters segment experienced a nearly 11 per cent decline, with 26,937 units sold in May 2024 compared to 30,138 units in the previous year.
Domestic sales also witnessed a drop of nearly 5.7 per cent, with 4.79 lakh units sold versus 5.08 lakh units year-on-year. However, exports soared by 67 per cent, with 18,673 units sold compared to 11,165 units in May last year.
Meanwhile, Hero MotoCorp has joined the government-run Open Network for Digital Commerce (ONDC) Network, becoming the first auto company in the country to join the network.
