BackHero MotoCorp registers 9.9% de-growth at 4.4 lakh units in June
Hero MotoCorp reported a decline in total sales at 436,993 units in June 2023, a 9.9% YoY decrease. Domestic motorcycle sales dropped 12.34% YoY, while scooter sales increased by 7.90% MoM.
PremiumTwo-wheeler maker Hero MotoCorp has reported total sales at 4,36,993 units in June 2023. The company registered a decline of 9.9% when compared to 4,84,867 units sold in the same month last year.
In terms of Month-on-Month sales, Hero MotoCorp registered a decline of 15.88%. It had sold 5,19,474 units in May 2023.
Hero MotoCorp’s domestic sales in motorcycles dipped last month to 4,04,474 units. There was a 12.34% Year-on-Year decline when the company had sold 4,61,421 units in June 2022.
In the scooter category, Hero MotoCorp registered positive sales at 32,519 units in June 2023. The two-wheeler company had sold 23,446 units in June 2022. MoM scooter sales also increased by 7.90% from 30,138 units in May 2023.
Recently, the company announced to increase prices of specific models of motorcycles and scooters by around 1.5% from July 3. With the price hike, the company aims to combat price positioning, input costs and business imperatives.
However, the exact quantum of increase will vary by specific models and markets, the company said in an exchange filing. Hero MotoCorp increased prices of its select models of motorcycles and scooters by 2% earlier this year in March. The price rise, then, was a result of increased costs to meet new emission norms, which came into effect in the following month.
In an exchange filing on June 1, the company revealed that its total sales increased 6.7% year-on-year to 519,474 units in May 2023.
Hero said the onset of monsoon and overall economic indicators bode well for a growth in demand. Industry volumes are also expected to pick up leading into the upcoming festive season, the company added.
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