Hero MotoCorp also introduced two new products – Glamour Xtec and ‘Connected’ Maestro Edge 125
Two-wheeler major Hero MotoCorp has released their sales figures for July 2021. Even as the company has commenced operations at most of its dealerships across the country save for those in certain areas where COVID-19 pandemic rages on, sales have declined. The report states that sales dipped 12.6 percent year-on-year (YoY). This decline in sales was seen both in case of motorcycles and scooters in the past month.
Total sales which had stood at 5,20,104 units in July 2020 dipped to 4,54,398 units in July 2021. Motorcycle sales were at 4,24,126 units in July 2021 which was a de-growth from 4,48,260 units sold in July 2020. Best sellers include Splendor, HF Deluxe, Passion, Glamour, etc.
Scooter sales also dipped from 35,844 units sold in July 2020 to 30,272 units in the past month. Top selling scooters include Pleasure, Maestro, Destini. Domestic sales suffered a de-growth from 5,12,541 units sold in July 2020 to 4,29,208 units in July 2021 while exports surged significantly from 7,563 units shipped in July 2020 to 25,190 units exported in the past month.
YTD Sales Growth
Even as YoY sales suffered de-growth, Hero MotoCorp has noted significant growth in terms of YTD sales. During FY2021 percent, motorcycle and scooter sales stood at 10,84,769 units which increased to 14,78,905 units in FY 2022. Growth was seen in motorcycle sales which increased from 10,08,439 units sold in FY 2021 to 13,83,715 units in YTD FY 2022. Scooter sales stood at 95,190 units in FY2022, a notable increase of 76,330 units sold in FY 2021.
Even as YTD domestic sales increased from 10,52,278 units in FY 2021 to 13,69,915 units in FY2022, company’s exports excelled at 1,08,990 units in FY 2022 up from 32,491 units shipped in FY 2021.
Future sales of Hero MotoCorp are expected to surge both in rural and urban markets following a favourable monsoon along with an urgent need for personal means of travel in view of the ongoing pandemic. The upcoming festive season would also see a boost in sales. Hero MotoCorp has established a strong presence in a host of global markets over the past few years. Apart from increase in domestic sales, export figures could also increase in the months ahead following commencement of retail sales in key markets of Mexico.
In Mexico, where the company will operate through local agencies and dealerships, products such as Xpulse 200, Xpulse 200T, Hunk 190, Hunk 160R, Hunk 150, Eco 150 TR, Eco 150 Cargo, and Ignitor 125 and Dash 125 scooter will be offered to cater to a diverse segment of buyers in the country. These products will be available with a 3 year/30,000 km warranty.
New Product Portfolio
Hero MotoCorp has introduced an extensive portfolio of products that including motorcycles and a scooter. The company has strengthened its 125cc segment with two new launches that include the Glamour in an ‘Xtec’ avatar along with a ‘connected’ Hero Maestro Edge 125 scooter. As a part of company’s initiatives in fighting the COVID-19 pandemic in India, Hero MotoCorp has extended support in setting up a 50 bed COVID Ward and ICU at Janakpuri Super Specialty Hospital, New Delhi.
Source: Bike - rushlane.com
