Hero MotoCorp sold 450,744 two-wheelers in June 2020, a record sequential growth of four times over the 112,682 units dispatched in May 2020.
The company said the sales figure has reached 90% of pre-covid sales, which signals positive sentiments & revival of consumer demand.Total two-wheeler sales in June 2020 fell 26.89% compared with 6,16,526 units sold in June 2019.
The sales in the first quarter of FY'21 was subdued due to the impact of COVID-19 and the effects of the closure of the plant operations and the retail outlets through the entire month of April and most of May.
Hero MotoCorp sold a total of 5,63,426 units of automobiles in the first quarter of financial year (April-June) 2020-21. The company had clocked volumes of 18,42,920 units in the corresponding period last year.
The automaker has commenced the dispatches of Hero Xtreme 160R. With this motorcycle model, the company expects to further strengthens Hero MotoCorp's presence in the premium motorcycle segment.
Dr. Pawan Munjal, chairman & CEO, Hero MotoCorp, said: "A major part of the market demand is emanating from the rural and semi-urban markets, which have been helped to a large extent by the various stimulus packages rolled out by the government. A combination of multiple factors, including the forecast of a normal monsoon, a bumper Rabi crop and the upcoming festive season are expected to keep the momentum going over the next few months."
The scrip rose 0.21% to Rs 2553.65. It traded in the range of Rs 2530.85 and Rs 2575 so far during the day.
On the BSE, 41,077 shares were traded in the counter so far compared with average daily volumes of 59,916 shares in the past two weeks. Of the total traded quantity, 24.02% shares were marked for delivery.
Hero MotoCorp is the largest two-wheeler manufacturer in the world. Its consolidated net profit slumped 21.6% to Rs 604.63 crore on 20.4% fall in net sales to Rs 6,333.51 crore in Q4 FY20 over Q4 FY19.
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