Hero MotoCorp reported a 22 percent de-growth on a YoY basis while MoM sales increased 25.65 percent
Hero MotoCorp, the world’s largest two wheeler maker has reported a 21.98 percern YoY decline in sales in March 2022. Sales which had stood at 5,76,957 units in March 2021 dipped to 4,50,154 units in the past month. It was, however, a 25.65 percent MoM growth over 3,58,254 units sold in February 2021.
The company has recently introduced the new Destini 125 ‘XTEC’ scooter that comes in with a new design and the latest in technology, priced at Rs 79,990. The company expects this new 125 cc scooter to boost sales in the months ahead.
Hero MotoCorp Sales March 2022
Motorcycle sales in the past month stood at 4,25,721 units, down 18.85 percent or 98,887 units when compared to sales of 5,24,608 units sold in March 2021. Motorcycles commanded a 94.57 percent share in March 2022 up from 88.96 percent held in February 2022. Hero motorcycles on offer are Splendor, HF Deluxe, Passion, Glamour, Xpulse, Xtreme.
Scooter sales dipped 53.33 percent YoY to 24,433 units in March 2022, down from 52,349 units sold in March 2021. Hero scooters on sale are Passion, Pleasure, Maestro, Destini. Domestic sales fell to 4,15,764 units last month, down 23.62 percent over 5,44,340 units sold in March 2021 while exports increased 7.09 percent to 34,930 units over 32,617 units shipped in March 2021.
Month on month (MoM) sales on the other hand saw more positive results. Total sales increased 25.65 percent from 3,58,254 units sold in February 2022 with sales growth seen across motorcycle and scooter sales both in domestic and global markets.
Motorcycle sales increased 25.78 percent from 3,38,454 units sold in February 2022. There was a 23.40 percent growth in scooter sales to 24,433 units in March from 19,800 units sold in February 2022. Total domestic sales also surged 25.43 percent from 3,31,462 units sold in February 2022 while exports increased 30.37 percent over 26,792 units shipped in February 2022.
Hero MotoCorp Q1 and YTD Sales
Hero MotoCorp has also reported a de-growth both in terms of Q1 and YTD sales. Q1 2022 sales stood at 11,88,884 units, down 24.19 percent over 15,68,313 units sold in Q1 of 2021. De-growth was seen both in motorcycle and scooter sales which dipped 21.94 percent and 48.94 percent respectively.
Motorcycle and scooter sales stood at 11,22,020 units and 66,864 units in the Q1 of 2022, down from 14,37,368 units and 1,30,945 units sold in Q1 of 2021. Domestic sales dipped 26.10 percent to 11,05,886 units down from 14,96,549 units while exports increased 16.41 percent to 83,538 units in Q1 2022 from 71,764 units shipped in Q1 of 2021.
On a YTD basis, Hero MotoCorp saw sales 14.63 percent to 49,44,150 units in FY2022 period, down from 57,91,539 units sold in FY2021. De-growth was seen both in the case of motorcycle (-13.23 percent) and scooter (-30.93 percent) sales to 46,27,7654 units and 3,16,385 units respectively. Domestic sales dipped 17.08 percent to 46,43,526 units while exports increased substantially by 56.89 percent to 3,00,624 units in FY2022 period over 1,91,609 units shipped in FY2021.
In related news, Hero MotoCorp has announced an upward revision in prices of both motorcycles and scooters with effect from 5th April 2022. The company stated that this was necessary so as to offset the impact of increase in commodity prices. The quantum of price hike will be upto Rs 2,000 and will be subject to specific models.
