Hero Motocorp logs sale of 4.87 lakh units in May 22; stock tumbles ~3%

2 Jun 2022 , 09:55 AM

Hero MotoCorp Limited, the world’s largest manufacturer of motorcycles and scooters, registered sales of 486,704 units in May 2022.

Sequentially, the company logged growth of 16% over the month of April 2022, when the company recorded sales of 418,622 units.

The company has sold 183,044 units in the corresponding month of 2021. However, the sales are not comparable as they were impacted due to the resurgence in Covid-19 cases and subsequent lockdowns.

Total sales include domestic sales of 4,66,466 units in May 2022 as compared to 1,59,161 units in May 2021. Export Sales were 20,238 units in May 2022 as against 23,483 units.

The volumes in the month of May reflect the continuously improving consumer sentiment and the company expects the positive trend to continue in the coming months. On the back of a normal monsoon, decent Rabi harvest, and continual government policy support.

Hero MotoCorp is currently trading at Rs2,673 down by Rs85.55 or 3.1% from its previous closing of Rs2,758.55 on the BSE. The scrip opened at Rs2,734 and has touched intraday high and low of Rs2,734 and Rs2,640 respectively.