Companies

Hero MotoCorp registers sales of 5,06,946 units in July

Our Bureau New Delhi | Updated on August 01, 2020 Published on August 01, 2020

Says market on recovery path

On the path to recovery, country's largest two-wheeler maker Hero MotoCorp on Saturday reported wholesale of 5,06,946 units of motorcycles and scooters in the domestic market in July.

Although, the numbers have declined on year-on-year (YoY) basis (5,11,374 units in July 2019), this is the third consecutive month of growth since operations resumed during this Covid-19 pandemic.

"Despite the prevailing economic slowdown on account of the Covid-19 pandemic, the company registered a sequential growth of 14 per cent over the previous month (June) and reached more than 95 per cent of wholesale dispatch numbers of the corresponding month in the previous year," Hero MotoCorp said in a statement.

Overall (including exports), the company sold 5,14,509 units during the month, out of which 4,78,665 units were motorcycles and 35,844 units were scooters. In July last year, it recorded an overall sales of 5,35,810 units (4,90,058 motorcycles and 45,752 scooters).

The robust volumes have been driven by strong retail sales due to the positive market demand. While there is cautious optimism on the demand trajectory going forward, sales continue to be impacted by the micro-lockdowns in several parts of the country, it said.

"For the growth momentum to continue, it would be pertinent for state and local authorities to provide a stable and consistent business environment as the situation evolves," it said.

Hero MotoCorp further said that following stringent protocols for safety and well-being of its employees, it made significant progress in ramping-up the production across all of its eight manufacturing facilities - six in India and two at global locations.

More than 95 per cent of customer touch-points are currently operational, with strict safety measures and protocols in place, it added.

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Published on August 01, 2020
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