Hero Motocorp sales at 715,718 units in Sept 2020; Cautiously confident ahead as festive season nears

Hero MotoCorp sold 18,14,683 units in the second quarter (July-September) of the current fiscal (FY’21), clocking a healthy year-on-year growth.

Oct 01, 2020 05:10 IST India Infoline News Service

Two-wheeler giant Hero Motocorp registered a sales of 715,718 units in September 2020, witnessing a 16.9% growth compared to sales of 6,12,204 units in September 2019. This would be the company's highest sales in a single month in the calendar year of 2020.

Of the total, the company's domestic sales were 6,97,293 units in September 2020, compared to 6,00,509 units in September 2019. Exports were at 18,425 units in the month under review, against 11,695 sold in September 2019.

Motorcycles sales were at 6,60,948 units in September 2020 vs. 5,58,696 units in September 2019. While scooters sales stood at 54,770 units in September 2020 vs. 53,508 units in September 2019.

In a statement, Hero Motocorp said, despite the disrupted network of components supply chain due to the non-availability of labour and issues with regard to logistics, Hero MotoCorp sold 18,14,683 units in the second quarter (July-September) of the current fiscal (FY’21), clocking a healthy Year-on-year growth of more than 7.3%. The Company had sold 16,91,420 units in the second quarter of FY’20.

Going forward, the company said, with the peak festival season coming up in the months of October and November, Hero MotoCorp remains cautiously confident of achieving yet another benchmark in post-COVID retail sales with the help of positive consumer sentiments and continued government policy support.

It added, to partially offset the rising input costs and commodity prices, the Company has made an upward revision in the ex-showroom prices of its motorcycles and scooters by up to 2%, with the exact quantum varying on the basis of the model and specific market. The revised prices are effective from October 1, 2020.

On Sensex, Hero Motocorp stock settled at Rs3151.70 per piece up 0.19%. 

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