Hero MotoCorp slides as total sales drop 18% YoY in Dec'24

Hero MotoCorp declined 1.98% to Rs 4,225.25 after the company said that its total sales tumbled 17.53% to 32,4906 units in December 2024 as compared with 39,3952 units in December 2023.

The companys motorcycle sales decreased 15.83% to 29,8516 units, while scooter sales tumbled 32.84% to 26,390 units in December 2024 over December 2023.

During the period under review, sales of motorcycles and scooters in the domestic market aggregated to 294,152 units (down 22.15% YoY), while exports of the same were at 30,754 units (up 90.9% YoY).

The companys electric vehicle brand, VIDA, crossed a significant milestone by achieving 46,662 retail sales during the same period.

Hero MotoCorp is engaged in the manufacturing and selling of motorised two-wheelers, spare parts, and related services. The company is a leading two-wheeler manufacturer and has a dominant presence in the domestic market.

The companys consolidated net profit jumped 26.29% to Rs 1,045.89 crore on a 15.4% increase in revenue from operations to Rs 10,210.79 crore in Q2 FY25 over Q2 FY24.

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