- Domestic sales for March 2020 fell by 42.7%
- Exports in March 2020 saw 35.7% decline
- Operations temporarily suspended due to Coronavirus Pandemic
Hero MotoCorp has reported the year-on-year sales numbers for March 2020 and the financial year 2019-20. The company sold 3,34,647 units in March 2020 as against 5,81,279 units in the corresponding month last year, thus registering a 42.2% fall.
The domestic sales dropped by 42.7% as the two-wheeler manufacturer sold 3,16,685 units in the last month as compared to 5,53,302 units in March 2019. The exports, too, showed negative performance. Hero MotoCorp exported 17,962 units in March 2020, down by 35.8% from 27,977 units in the corresponding month last year.
The overall sales for FY2019-20 saw an 11% decline over the previous corresponding period. The company sold 64,09,719 units in FY2019-20 as against 72,39,460 units in FY2018-19.
Apart from the sales performance, Hero MotoCorp has also announced that Naveen Chauhan has taken over as the Head of Sales and After Sales from 1 April 2020.
The company has temporarily suspended operations due to the ongoing Coronavirus Pandemic. Hero MotoCorp currently has a large inventory of BS4 motorcycles. Providing some relief, the Supreme Court of India will allow brands to sell 10% of the unsold stock once the 21-day lockdown is over on 14 April 2020.