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Home/Hero MotoCorp sales decline by 12.6%

Hero MotoCorp sales decline by 12.6%

As compared with 4,69,160 units sold in June 2021, the company's total sales are down 3.1%

Hero MotoCorp said that its total sales in July 2021 stood at 4,54,398 units, down by 12.6% from 5,20,104 units sold in July 2020.

As compared with 4,69,160 units sold in June 2021, the company's total sales are down 3.1%.

While India sales dropped by 16.3% to 4,29,208 units, exports surged to 25,190 units (up 3.33 times Y-o-Y) in July 2021 compared with July 2020. As compared with June 2021, domestic sales and exports are lower by 2.1% and 17.8%, respectively.

Hero MotoCorp said that most of the retail touch-points of the company were operational across the country, although localised lockdowns imposed by certain states in the wake of sporadic coronavirus cases continue to restrict the customer movement.

The company remains optimistic about continuously improving consumer sentiment in the coming months with the onset of the festive season in India.

Hero MotoCorp also commenced retail sales in the key market of Mexico in keeping with its aggressive expansion plans in its global business. It introduced an extensive portfolio of products, including motorcycles and a scooter in order to cater to the diverse segments of customers.

The product portfolio will be available across the country through the retail arm of the distributor, agencies and dealers, and will have attractive financing options. There will also be a wide network of service centers spread throughout the country.

Sanjay Bhan, head of global business, Hero MotoCorp, said, this is an important development in our international business growth story. Mexico will be a key market for us in the future and this is the first step in this direction. The range of products that we have introduced here should excite and cater to a wide segment of customers.

The two-wheeler major reported 44.2% jump in net profit to Rs 885.28 crore in the fourth quarter of FY21 compared with Rs 613.81 crore in the fourth quarter of FY20. Net sales during the quarter rose 37.2% year-on-year (Y-o-Y) to Rs 8,689.74 crore.