Hero MotoCorp's July Sales down by ~2% y-o-y at 4,45,580 units; stock slips ~3%

2 Aug 2022 , 09:58 AM

Hero MotoCorp reported a marginal decline of 1.94% yoy in its sales during the month of July 2022 at 4,45,580 units, as against 4,54,398 units in July 2021.

Sequentially, the company witnessed a steady growth, it sold 18,35,773 units of motorcycles and scooters so far (April-July) in FY23. This reflects a double-digit growth of 24.10% against the previous corresponding period of FY22, at 14,78,905 units sold.

Company outlined that India’s monsoon season, and the resulting agricultural harvest, on top of the upcoming festive season, are expected to keep sentiments positive and help build momentum.

Hero MotoCorp launched the exclusive Rally Edition of its widely popular motorcycle Xpulse 200 4V in the first month of the second quarter, as well as the latest edition of the iconic Super Splendor in Canvas Black Edition, which comes with the triple promise of Super – Power, Super – Mileage, and Super – Comfort.

In June, Hero MotoCorp also handed over 1,167 Hero Glamour motorcycles to the West Bengal Police to improve their mobility in ensuring the safety of women and the prevention of crime in the state.

Out of the company’s total sales, domestic sales stood at 4,30,684 units in July 2022 as against 4,29,208 units in the previous corresponding period. However, exports witnessed a downfall of ~41% yoy at 14,896 units in July 2022 against 25,190 units in July 2021.

Company sold 4,21,288 units of motorcycles during the month, and 24,292 units of scooters.

At around 10.00 AM, Hero MotoCorp was trading at Rs2,765.20 down by Rs75.55 or 2.66% from its previous closing of Rs2,840.75 on the BSE. The scrip opened at Rs2,837 and has touched intraday high and low of Rs2,837 and Rs2,754.45 respectively.