Hero MotoCorp reported a 22 percent year-over-year de-growth as MoM sales increased 25.65 percent
Hero MotoCorp, the world’s largest two-wheeler manufacturer, has reported a 21.98 percent year-over-year decline in sales in March 2022. Sales, which stood at 5,76,957 units in March 2021, fell to 4,50,154 units in the past month. However, it was MoM growth of 25.65 percent over 3,58,254 units sold in February 2021.
The company has recently introduced the new Destini 125 ‘XTEC’ scooter which comes with a new design and latest technology priced at Rs 79,990. The company expects this new 125cc scooter to boost sales in the coming months.
Hero MotoCorp Sale March 2022
Motorcycle sales were 4,25,721 units last month, down 18.85 percent or 98,887 units compared to sales of 5,24,608 units sold in March 2021. Motorcycles had a 94.57 percent share in March 2022, compared to 88.96 percent in February 2022. Hero bikes on offer are Splendor, HF Deluxe, Passion, Glamour, Xpulse, Xtreme.
Scooter sales fell 53.33 percent year-on-year to 24,433 units in March 2022, from 52,349 units sold in March 2021. Hero scooters for sale include Passion, Pleasure, Maestro, Destini. Domestic sales fell to 4,15,764 units last month, a 23.62 percent drop from 5,44,340 units sold in March 2021, while exports increased 7.09 percent to 34,930 units, more than 32,617 units sold. were shipped in March 2021.
Month-on-month (MoM) sales, on the other hand, showed more positive results. Total sales increased by 25.65 percent from 3,58,254 units sold in February 2022, with sales growth seen in motorcycle and scooter sales, both in the domestic and global markets.
Motorcycle sales increased 25.78 percent from 3,384,454 units sold in February 2022. Scooter sales increased 23.40 percent to 24,433 units in March, compared to 19,800 units sold in February 2022. Total domestic sales also increased 25.43 percent from 3,31,462 units sold in February 2022, while exports increased 30.37 percent from 26,792 units shipped in February 2022.
Sell Hero MotoCorp Q1 and YTD
Hero MotoCorp has also reported de-growth both in terms of Q1 and YTD sales. Sales in the first quarter of 2022 were 11,88,884 units, a decrease of 24.19 percent from 15,68,313 units sold in the first quarter of 2021. The growth was seen in both motorcycle and motorcycle sales. scooters, which fell 21.94 percent and 48.94 percent, respectively.
Motorcycle and scooter sales were 11,22,020 units and 66,864 units in the first quarter of 2022, down from 14,37,368 units and 1,30,945 units sold in the first quarter of 2021. Domestic sales fell by 26, 10 percent to 11,05,886 units, compared to 14,96,549 units, while exports increased 16.41 percent to 83,538 units in the first quarter of 2022, from 71,764 units shipped in the first quarter of 2021.
On a YTD basis, Hero MotoCorp saw sales of 14.63 percent to 49,44,150 units in FY2022, down from 57,91,539 units sold in FY2021. The growth was seen in both motorcycle (-13.23 percent) and scooter (-30.93 percent) sales to 46,27,7654 units and 3,16,385 units, respectively. Domestic sales fell 17.08 percent to 46,43,526 units, while exports rose significantly by 56.89 percent to 3,00,624 units in FY2022, more than 1,91,609 units shipped in FY2021.
In related news, Hero MotoCorp has announced an upward revision to the prices of both motorcycles and scooters effective April 5, 2022. The company stated that this was necessary to offset the impact of the rise in raw material prices. The amount of the price increase will reach Rs 2,000 and will be subject to specific models.