The world's largest manufacturer of motorcycles and scooters sold 547,970 units of two-wheelers in October 2021.
Hero MotoCorp's total sales in October rose 3.32% over September 2021 and it declined 32.09% over October 2020.Sequentially, the company's total motorcycle sales rose 3.38% to 5,05,957 units. Total scooter sales rose 2.65% to 42,013 units. Domestic sales jumped 4.42% to 5,27,779 units. Exports, however, declined 18.86% to 20,191 units in October 2021 over September 2021.
"Demand in the festive season has been building up as we move towards Dhanteras and Diwali, and we expect healthy retail over the coming weeks. With the economy gradually opening up with several other positive indicators, such as encouraging farm activity and surge in preference for personal mobility, a swift revival in sales is expected in the coming months," the company said in a statement.
Hero MotoCorp introduced a range of new two-wheelers during the month of October. The company has brought two additions to its 'X'-range of premium portfolio - the Xtreme 160R Stealth Edition and XPulse 200 4 Valve. The company's scooter range also got the new Pleasure+ XTec.
With international markets gradually opening-up, Hero MotoCorp inaugurated its new exclusive dealership in Dubai, further strengthening its presence in the United Arab Emirates (UAE).
On a consolidated basis, net profit of Hero MotoCorp rose 333.01% to Rs 256.08 crore on 85.34% rise in net sales to Rs 5502.80 crore in Q1 June 2021 over Q1 June 2020. The company's board will consider Q2 results on 12 November 2021.
Shares of Hero MotoCorp were up 0.13% to Rs 2684.60.
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