Hero MotoCorp recorded total of 5.77 lakh units in terms of domestic sales and exports
Hero MotoCorp continued to be the most sold two-wheeler maker in India for the month of March 2021. The company has registered sales of 5,76,957 units of motorcycles and scooters in the past month, registering a 72.41 percent growth over sales in March 2020 which had stood at 3,34,647.
Sales in March 2020 were impacted for two reasons. One was the upgrade to BS6 emission standards while it was during the same month that the COVID-19 pandemic raised its head in the country leading to a nationwide lockdown.
YoY Domestic Sales and Exports
Taking motorcycle and scooter sales separately into account, motorcycle sales stood at 5,24,608 units in the past month, up 71.48 percent over 3,05,932 units sold in March 20. Scooter sales saw a higher percentage of growth at 85.80 percent from 28,175 units sold in March 20 to 52,349 units sold last month.
These took total domestic sales in March 21 to 5,44,340 units, up 71.89 percent over 3,16,685 units sold in March 20. Exports on the other hand were the highest ever in global markets in a single month. Exports stood at 32,617 units in March 21 up 81.59 percent over 17,655 units sold in March 20.
MoM Domestic Sales and Exports
When assessing MoM sales of Hero MotoCorp motorcycles and scooters, it can be seen from the attached table that growth was quite significant. Motorcycle sales increased 13.13 percent from 4,63,723 units sold in Feb 21 while scooter sales saw a 25.40 percent increase from 41,744 units sold in Feb 21 to 52,349 units sold last month.
While domestic sales saw a 12.37 percent increase as against 4,84,433 units sold in Feb 21, exports surged 55.07 percent from 21,034 units in Feb 21 to 32,617 units last month. This took total sales up 14.14 percent from 5,05,467 units sold in Feb 21 to 5,6,957 units in March 21.
Year to Date Sales
Taking into account the period April 2020 to March 2021, Hero MotoCorp has noted de-growth in terms of motorcycle sales to the extent of 10.97 percent. Sales stood at 59,90,440 units in the 2019-20 period, dipping to 53,33,481 units in the same period of the current year. Scooter sales however increased 9.25 percent to 4,58,058 units, up 38,779 units as against 4,19,279 units sold in the FY 2019-20 period. However, total domestic sales dipped 10.13 percent while exports increased 7.49 percent from 1,78,261 units sold in FY2019-20 to 1,91,609 units sold in FY2020-21.
Over the past year, Hero MotoCorp has seen some significant launches of motorcycles and scooters among which were the Glamour Blaze, Pleasure+ Platinum, Maestro Edge 125 ‘Stealth’ Edition and Splendor+ Black and Accent. The company also launched the BS6 compliant Xtreme 200S and the Destini 125 Platinum.
Hero MotoCorp also forged a partnership with Harley Davidson for development and sale of their premium range of motorcycles under the Harley Davidson brand name. The partnership also included setting up of a unit to manage Harley business in India and for the sale of parts and accessories and other riding gear via the Harley / Hero dealerships. Earlier this week, the company also announced an offer called ‘First to Ride’ under which a limited lot of 200 units of Harley Davidson bikes were offered to company employees or their family members at hefty discounts with each bike sporting the Chairman’s signature.
In June 2020, Hero MotoCorp also announced an investment of Rs.174 crores in Ather Energy, a Bengaluru based electric scooter startup, thus taking its total shareholding in the company to 34.81 percent.