Hero Motocorp sold approximately 3.5 racks of motorcycles and scooters in November 2021, compared to sales of more than 5.9 racks in November 2020.
Hero MotoCorp is putting pressure on sales because demand isn’t rising.
Hero MotoCorp announced the sale of 3,49,393 motorcycles in November 2021. The world’s largest motorcycle manufacturer reported a 69% reduction in overall monthly sales compared to 5,91,091 units sold at the same time. The month one year ago. According to the company, delayed harvests due to delayed monsoon withdrawals across the country affected demand after the festival season. Sales pressure is high in the domestic market, but export sales are on the rise.
Read again: Hero MotoCorp October 2021 Sales down 32%
Motorcycle sales in November 2021 were 3,29,185 units, a decrease of more than 64% compared to 5,41,437 units in November 2020. By comparison, hero scooters sold only 20,208 units, but scooter sales showed a significant 145% decline from the hero’s November 2020 record of 49,654 units. The total domestic market sales in November 2021 were 3,28,862 units, a decrease of more than 5,75,957 units sold in the same month a year ago.
Read again: Hero MotoCorp Q2’s profits are down 22%. Confirmed EV release by March 2022
According to Hero Motocorp, the economy is gradually opening up, and coupled with several other positive indicators such as promoting farm activity, the confident consumer price index, and the marriage season, sales are rapid in the fourth quarter. Recovery is expected. In addition, signs of softening commodity prices, supported by lower excise taxes on fuel and higher government spending on fixed investment programs, could regain momentum in the two-wheeled vehicle industry.
Read again: Hero MotoCorp Trademarks Vida Name; May Be New EV Vertical Brand Name
The company’s electric vehicle (EV) project is proceeding as planned, and the Chittoor manufacturing facility in Andhra Pradesh is preparing for the production of green products. Hero MotoCorp’s team focuses on working across the EV ecosystem, including battery technology and battery management systems, powertrains, telematics, analytics and diagnostics, and charging infrastructure. Swadesh Srivastava was recently appointed Head of the Embu, Mobility Business Unit (EMBU) at Hero MotoCorp. It is scheduled to launch the first EV product by March 2022.
Follow carandbike.com for the latest car news and reviews. twitterSubscribe to the, Facebook, and YouTube channels.
Hero MotoCorp Sales Skid 69%
Source link Hero MotoCorp Sales Skid 69%