 "Hero MotoCorp VIDA V1 Electric Scooter")
Hero MotoCorp share price today slipped 3.4 per cent on the National Stock Exchange (NSE), hitting an intraday low of Rs 4,162.45 per share. The decline in Hero MotoCorp share came after the company reported weak auto sales data for December.
Hero MotoCorp sold 324,906 units in December 2024 as against 393,952 units sold in December 2023. The drag was largely on the back of weak motorcycle sales, which stood at 298,516 units in December 2024, compared with 354,658 units of December 2023.
Scooter sales, too, slipped to 26,390 units last month, down from 39,294 units sold in the corresponding month last year.
Market-wise, Hero Moto’s domestic motorcycle sales fell to 294,152 units in December 2024 from 377,842 units in December 2023. Exports, on the contrary, climbed to 30,754 units vs 16,110 units sold in December 2023.
On a year-to-date basis for the current financial year, Hero MotoCorp’s sales climbed to 45,18,642 units, up from 42,29,032 units year-on-year.
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Motorcycle sales improved to 42,17,249 units FY-T-D from 38,94,963 units Y-o-Y, while scooter sales fell to 301,393 units from 334,069 units.
Domestic sales also increased to 43,31,998 units in FY-T-D from 40,95,084 units Y-o-Y, while exports inched up to 186,644 units from 133,948 units Y-o-Y.
For the whole of calendar 2024, Hero MotoCorp, clocked sales of 59,11,065 units, translating into a volume growth of 7.5 per cent over the corresponding period CY’23.
Meanwhile, Hero MotoCorp sold over 46,662 units of VIDA V1 e-scooters in the CY 2024.
Hero MotoCorp Outlook
Going ahead, Hero MotoCorp plans to launch premium motorcycles and scooters, including the electric, at the Bharat Mobility 2025.
“This initiative underscores the company’s commitment to innovation and its strategic focus on catering to the evolving demands of the Indian and global markets,” Hero Moto said in a statement.
At 10:10 AM, Hero MotoCorp share was down 1.8 per cent on the NSE as against a 0.5 per cent dip in the Nifty50 index.
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