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Hero MotoCorp sales surge 72% YoY in March

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The two-wheeler major reported a 72% increase in total sales at 576,957 units in March 2021 from 334,647 units sold in the same month last year.

Significantly, the company registered its highest-ever sales in Global Business (GB) in a single month by clocking 32,617 units in the month of March 2021, a growth of 82% over the corresponding month in 2020 when it had sold 17,962 units in its global markets.

In March last year, sales were adversely impacted due to the impending transition to BSVI from April 2020, in addition to the nationwide lockdown towards the latter half of the month due to coronavirus pandemic.

Sequentially, total sales rose 14.14% in March 2021 from 505,467 units sold in February 2021.

Domestic sales were at 544,340 units in March 2021 as against 316,685 units in March last year. Exports rose to 32,617 units in March 2021 as compared to 17962 units in March 2020.

Naveen Chauhan, Head - Sales and After-Sales, Hero MotoCorp said, "The financial year 2020-21 for us has been a period of sharp revival and setting new milestones, despite the backdrop of a significant downturn in the automotive market. During the fiscal, we surpassed the monumental milestone of 100 million units in cumulative sales since our inception. We are currently offering the broadest-ever range of scooters and motorcycles, each with its own distinctive personality that resonates with our customers. In keeping with our vision to 'Be the Future of Mobility', Hero MotoCorp will be launching a host of new motorcycles and scooters over the next five years."

Shares of Hero MotoCorp were down 1.7% at Rs 2907.75 on BSE. Meanwhile, the S&P BSE Sensex plunged 1,231 points or 2.46% to 48,798.78.

Hero MotoCorp is the world's largest manufacturer of motorcycles and scooters, in terms of unit volumes sold by a single company in a year. The company's consolidated net profit jumped 13.7% to Rs 1,029.17 crore on a 38.9% rise in net sales at Rs 9,827.05 crore in Q3 FY21 over Q3 FY20.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, April 05 2021. 10:30 IST