Hero MotoCorp to lose top spot in 2-wheeler sales to HMSI: Elara Capital

Rural states, such as Uttar Pradesh, Bihar and Jharkhand, have fallen higher in September on a MoM basis

Hero MotoCorp will lose its top spot in monthly domestic two-wheeler sales to Honda Motorcycle and Scooter India (HMSI) in September for the first time since May 2020, stated Elara Capital in a report on Friday, based on national vehicular registry Vahan's data.

"September retail figures for HMCL (Hero MotoCorp) were at 222,712 units until September 28 while HMSI's 255,909 units," the report added.

The brokerage and research firm said that the cause for concern for HMCL is that in terms of market share in rural states, HMCL has lost month-on-month (MoM) market share in the range of 100-800 basis