Hero MotoCorp sales skid 22% YoY in March

The two-wheeler major's total sales declined 21.98% to 4,50,154 units in March 2022 as against 5,76,957 units sold in March 2021.

Sequentially, the two-wheeler major's total sales jumped 25.65% last month compared with 3,58,254 units sold in February 2022.

In March 2022, the company's total motorcycles sales stood at 4,25,721 units (down 18.85% YoY) and total scooters sales were at 24,433 units (down 53.33% YoY).

Total domestic sales stood at 4,15,764 units (down 23.62% YoY) and total exports were at 34,390 units (up 5.44% YoY) last month.

"With pandemic restrictions witnessing a gradual withdrawal due to a steady decline in Covid-19 cases and reopening of all the sectors of economy, we expect sales momentum to build up in new the fiscal FY'2022-23," the company said in a statement on 1 April 2022.

During the fiscal year ended March 2022, the company's total sales fell 14.63% to 49,44,150 units compared with 57,91,539 units in the same period last year. In FY22, the auto industry witnessed significant disruptions triggered by the second and third wave of Coronavirus pandemic, restricting customer movement, the company said.

Hero MotoCorp is the world's largest manufacturer of motorcycles and scooters. On a consolidated basis, its net profit declined 30.95% to Rs 703.74 crore on 18.46% fall in net sales to Rs 8,013.08 crore in Q3 FY22 over Q3 FY21.

Shares of Hero MotoCorp fell 2.39% to settle at Rs 2241.80 on Friday.

Powered by Capital Market - Live News