The two-wheeler major's total sales declined 1.95% to 519,980 units in September 2022 as against 530,346 units sold in September 2021.
Sequentially, this translates into a growth of 12.4% over the month of August 2022, when the company had sold 462,608 units.
In September 2022, the company's total domestic sales stood at 507,690 units (up 0.44% YoY) while total exports were at 12,290 units (down 50.61% YoY).
The company sold 480,237 units of motorcycles (down 1.88% YoY) and 39,743 units of scooters (down 2.9% YoY) during the period under review.
Hero MotoCorp sold more than 28 lakh units in the first six months of the financial year (April-September) 2022-23. This is a double-digit growth of 14.42% over the corresponding period of the previous fiscal, when the company had sold more than 24 lakh units.
Heading into the peak festive season, the company remains optimistic about customer demand over the coming weeks. The normal monsoon across most parts of the country and the encouraging farm activity is likely to contribute towards positive customer sentiments. The company is geared up to launch its first-electric vehicle, VIDA - Powered by Hero on 7 October 2022, the 2-wheeler maker said.
The company said that it is finalizing a collaboration agreement with Zero Motorcycles, the California (USA)-based manufacturer of premium electric motorcycles and powertrains. The collaboration will focus on co-developing Electric motorcycles. The company's board also approved an equity investment up to $60 million in Zero Motorcycles, it added.
In the month of September, Hero MotoCorp entered into a collaboration with Hindustan Petroleum Corporation (HPCL) to establish charging infrastructure for Electric Vehicles (EVs) in the country. As a part of the initiative, the companies will set-up charging infrastructure for two-wheeled electric vehicles (EVs) across the country, accelerating the transition of mass mobility to an electrified future, the company said in the press release.
Hero MotoCorp is the world's largest manufacturer of motorcycles and scooters. The company recorded 71% jump in standalone net profit to Rs 625 crore in Q1 FY23 from Rs 365 crore in Q1 FY22. Revenue from operations for the first quarter stood at Rs 8,393 crore, a growth of 53% over the corresponding quarter in the previous fiscal.
Shares of Hero MotoCorp were up 0.43% to Rs 2,561.10 on the BSE.
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