Yet again Hero Motocorp has reported total sales at over 5 lakh units. February 2021, saw the manufacturer reports sales decline for motorcycles, and growth for scooters. Motorcycle sales fell to 4,63,723 units, down from 4,79,310 units at volume loss of 15.587 units. Sales decline stood at 3.25 units.
Motorcycle sales contributes to the lion’s share of volumes at over 90 percent. Scooter sales improved significantly in Feb 2021. Sales was up at 41,744 units, up from 18,932 units. Sales more than doubled at volume gain of 22,812 units. Growth is pegged at 120 percent to raise scooters’ share in total sales to 8.26 percent.
Hero MotoCorp does most of its business at home. Domestic sales stood at 4,84,433 units, remaining flat-tish, up from 4,80,196 units sold in Feb 2020. Some of the star performers in sales were Splendor, Passion, HF Deluxe, Maestro, Pleasure, Glamour, etc.
Exports grew by 16.56 percent, up at 21,034 units, up from 18,046 units at volume gain at just under 3k units. Exports accounted for just over 4 percent of total sales at Hero MotoCorp. Total sales growth last month is reported at 1.45 percent. Sales rose to 5,05,467 units, up from 4,98,242 units. Volume gain stood at 7,225 units.
MoM sales growth is reported at just over 4 percent, up from 4,85,889 units. volume gain stood at 19,578 units. MoM motorcycles’ sales growth is reported at 3.27 percent. Sales rose from 4,49,037 units at volume gain of 14,686 units. Scooter sales MoM growth is reported at 13.27 percent. Sales rose from 36,852 units at volume gain of 4,892 units.
Of this domestic sales MoM growth stood at 3.56 percent at volume gain of 16,657 units. Sales rose from 4,67,776 units sold in Jan 21. Exports grew by 16.13 percent at volume gain of 2,921 units. Exports rose from 18,113 units a month earlier.
Despite Hero MotoCorp’s ability to sell two wheelers by the dozen, the manufacturer is staring at sales decline for the fiscal that ends in March 2021. This is but expected considering the slow start to business in FY21. After a complete lockdown through April 2020 owing to Covid-19 pandemic, the following months were spent smoothening logistics and supply chain disruptions. While business in recent months has been favourable, the year will end on a slow note.
YTD FY21 motorcycles sales is down by 15.40 percent at 48,08,849 units, down from 56,84,508 units. Despite uncertainties, scooter sales has improved at just under 4 percent. Over 4 lakh units have been sold in the last 11 months, up from just under 4 lakh units for the same period in FY20. Total domestic YTD sales has crossed the 50 lakh mark, down from just under 60 lakhs at the same time last year.
Exports decline marginally at 1,58,991 units. The start to 2021 appears to be strong with Hero MotoCorp wholesales through January and February being reported at just under 10 lakh units.