Hero MotoCorp records sales of 394,773 units in Dec 2021, posts highest ever sales in global markets; Stock rallies

3 Jan 2022 , 12:06 PM

Hero MotoCorp reported its highest-ever sales in global markets outside of India in any calendar year. In December 2021, the Company sold a total of 394,773 units of motorcycles and scooters, including in its domestic market in India and global business, registering a sequential growth of 13% over November 2021 when it had sold 349,393 units.

For the third quarter (October-December) of FY22, the Company’s total volumes stood at 12, 92,136 units.

Meanwhile, the Company sold 2.89 Lakh units of motorcycles and scooters in its markets spread across Asia, Africa South and Central America and the Caribbean in the calendar year 2021 (January-December), clocking a robust growth of 71% over the corresponding period in the previous year (2020) when it had sold 1.69 Lakh units in its markets outside of India.

Sanjay Bhan, Head — Global Business, Hero MotoCorp, said “Our new strategy of R4 — Recalibrate, Revitalize, Revolutionize, Revive – has already started yielding results for us. The volumes in our global markets in the calendar year 2021 is in line with our plans, keeping in mind the constraints in global logistics and supply chain on account of the prevailing Covid19 pandemic. We are well on track to meet our target of garnering 15% of the company’s total volumes from our global business by 2025.”

The company has rapidly expanded its global footprint to over 42 countries across three continents. Hero MotoCorp is gearing up to unveil its first Electric Vehicle (EV) in March this year. The vehicle will be produced at the company’s manufacturing facility at Chittoor in the southern Indian state of Andhra Pradesh.

At around 12.04 pm, Hero stock was trading at Rs2478 per piece up by Rs16.70 or 0.7% on Sensex. The stock has touched an intraday high of Rs2496.85 per piece.