Hero MotoCorp registers decline in sales by 32% in October

The country's largest two-wheeler maker Hero MotoCorp reported a 32 per cent dip in total sales to 5,47,970 units for October.

The company had sold 8,06,848 units in the corresponding month of the previous year, Hero MotoCorp said in a statement.

In the domestic market, the company's wholesales dropped to 5,27,779 units last month from 7,91,137 units in October 2020.

Exports, however, increased to 20,191 units last month as against 15,711 units in the year-ago month.

"Demand in the festive season has been building up as we move towards Dhanteras and Diwali, and we expect healthy retail over the coming weeks," the company said.

With the economy gradually opening up with several other positive indicators, such as encouraging farm activity and surge in preference for personal mobility, a swift revival in sales is expected in the coming months, it added.