Yet again Hero MotoCorp domestic sales crosses 5 lakh units
Hero MotoCorp has reported strong sales in November 2020. The manufacturer consistently reports upward of 5 lakh units in monthly sales as a matter of habit rather than exception. So, yet again, total sales is reported at a mighty 5,91,091 units in November 2020. Sales growth is reported at 14.38 percent YoY when 5,16,775 units were sold. Volume gain stands at 74,316 units
Of this, domestic sales accounts for 5,75,957 units at 13.83 percent growth, up from 5,05,994 units at volume gain of 69,963 units. Exports accounted for 15,134 units. Though a small number, growth was significant at 40.38 percent from 10,781 units at volume gain of 4,353 units.
Of domestic sales, motorcycles take precedence for the manufacturer. Sales is at a whopping 5,41,437 units, up 12.93 percent from 4,79,434 units. Volume growth alone stands at 62,003 units, more than what some manufacturers manage to sell in an entire month in the company. The scooter portfolio though on growth mode doesn’t seem to be as loved as Hero motorcycles. Sales is reported at 49,654 units, up by a third from 37,341 units.
Hero MotoCorp October 2020 MoM sales
MoM sales is reported at a decline since the manufacturer sold more than 8 lakh two-wheelers in Oct 20. A feat that only Hero MotoCorp could have pulled off. Total MoM sales decline is reported at 26.74 percent down from 8,06,848 units. Exports fell marginally at a deficit of 577 units down from 15,711 units. Domestic motorcycle sales fell 26.08 percent down from 7,32,498 units. Motorcycle range is dominated by Splendor, HF Deluxe, Passion, Xtreme, Xpulse, etc.
Scooter sales decline is reported at a third, down from 74,350 units. Total domestic sales fell by 27.2 percent down from 7,91,137 units at volume loss of 2,15,180 units. Scooter range includes the likes of Pleasure, Maestro, Destini, etc.
While sales in recent weeks has been promising, it’s not enough to go into the green for the year. FY21 YTD (April – Nov ’20) total sales amounts to 37,75,890 units, down 18.8 percent from 46,50,363 units. Of this, exports accounts for 97,542 units, down 15.81 percent from 1,15,864 units. Total domestic sales fell 18.88 percent down to 36,78,348 units from 45,34,499 units. Of tis motorcycle sales has fallen 19.18 percent at 34,80,990 units, and scooter sales fell 14.08 percent at 2,94,900 units from 3,43,222 units.
Hero intends to ride this wave further
At a time when it was difficult to foretell sales projection considering sales activity had come to a standstill owing to Covid-19 pandemic related nationwide lockdown, the two-wheeler industry has covered much ground, and how. No doubt market conditions have been challenged like never before, and supply and logistic chains disrupted but as business opened up in a phased manner, such niggles were sorted in a timely manner to prepare for the big fat Indian festive season.
Hero MotoCorp has led the two-wheeler industry revival from the front and reported record retail sales this festive season. Earlier it was reported that a staggering 14 lakh units were retailed in the 32- day period starting from Navratras till Bhai-Duj.
Hero MotoCorp attributes its stellar sales stance to its product portfolio, festive initiatives, digital sales solutions and safe customer buying experience. Sales growth has helped strengthen market leadership. Supply and production has been ramped across manufacturing units to meet increased demand. Hero MotoCorp aligns with the thought that increase in personal mobility requirements post Covid-19 restrictions will further strengthen demand for two-wheelers. The company intends to ride this wave further.