Hero MotoCorp said that its total sales in July 2021 stood at 4,54,398 units, down by 12.6% from 5,20,104 units sold in July 2020.
The company's total sales are lower by 3.1% as compared with 4,69,160 units sold in June 2021.
While domestic sales declined by 16.3% to 4,29,208 units, exports, however, surged to 25,190 units (up 3.33x YoY) in July 2021 over July 2020. As compared with June 2021, domestic sales and exports are lower by 2.1% and 17.8%, respectively.
Hero MotoCorp said that most of the retail touch-points of the company were operational across the country, although localised lockdowns imposed by certain states in the wake of sporadic coronavirus cases continue to restrict the customer movement.
India's rural economy and semi-urban market is expected to bounce back on the hopes of good monsoon and customers' preference for personal mobility.
The company continues to monitor the on-ground situation and remains optimistic about continuously improving consumer sentiment in the coming months with the onset of the festive season.
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In keeping with its aggressive expansion plans in its global business, Hero MotoCorp also commenced retail sales in the key market of Mexico. The company introduced an extensive portfolio of products, including motorcycles and a scooter, thereby catering to the diverse segments of customers.
The product portfolio will be available across the country through the retail arm of the distributor, agencies and dealers, and will have attractive financing options. There will also be a wide network of service centers spread throughout the country.
Sanjay Bhan, head of global business, Hero MotoCorp, said, This is an important development in our international business growth story. Mexico will be a key market for us in the future and this is the first step in this direction. The range of products that we have introduced here should excite and cater to a wide segment of customers.
Hero MotoCorp is the world's largest manufacturer of motorcycles and scooters, in terms of unit volumes sold by a single company in a year.
The scrip rose 0.79% to currently trade at Rs 2786.05 on the BSE. On a year-to-date (YTD) basis, the stock has declined by 10.36% while the benchmark Sensex has added 10.81% during the same period.
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