Hero MotoCorp slips ~3% on logging flat sales in December

3 Jan 2024 , 01:39 PM

Hero MotoCorp Limited shares fell 3% to Rs 3,974 early on January 3 after it reported flat December sales.

The world’s top two-wheeler manufacturer sold 3,93,952 units compared to 3,94,179 units in the same time last year, a 0.05% decrease.

At around 1.31 PM, Hero MotoCorp was trading 2.44% lower at Rs 3,988.40 per piece, against the previous close of Rs 4,088.20 on NSE.

“The company anticipates a favorable momentum to develop starting from the fourth quarter, buoyed by heightened government spending, improved liquidity, positive developments in farm activity, and the upcoming wedding season,’ stated the company.

Motorcycle sales were 3,54,658 units last month, compared to 3,56,749 units in the same time previous year. Scooter sales in December 2023, however, were higher at 39,294 units compared to 37,430 units in the previous comparable period, according to the business.

In terms of exports, Hero increased their sales by 25%, selling over 16,000 units compared to 12,814 units in December 2022.

Between January and December 2023, the automaker sold around 54.99 lakh units. This represents a 5% increase over the previous similar quarter when it sold 52.47 lakh units.

For feedback and suggestions, write to us at [e-mail]