- Overall sales dropped by nearly 41 per cent
- Domestic sales fell from 5,75,957 to 3,28,862
- Exports witnessed a marginal growth
Hero MotoCorp has reported its sales data for November 2021. The Indian two-wheeler maker sold 3,49,393 units of two-wheelers in November 2021 as against 5,91,091 units in the corresponding month last year, a fall of nearly 41 per cent. The motorcycles sales stood at 3,29,185 units last month as against 5,41,437 units in November 2020. The scooter contributed 20,208 units to the total sales in November 2021. In comparison, Hero MotoCorp sold 49,654 scooters in November last year.
While the domestic sales witnessed a negative rise, exports witnessed a marginal growth. The company exported 20,531 units in November 2021 against 15,134 units in the corresponding month last year.
Hero MotoCorp said in its press announcement that the delay in harvesting due to the late withdrawal of monsoon in many parts of the country impacted the demand post-festive season. However, the company expects to see a revival in sales in the fourth quarter. Furthermore, the commodity prices are showing some signs of softening aided with the reduction of excise duty on fuel, and increased spending on Capex programs by the government. This is likely to bring back the momentum in the two-wheeler industry, added Hero MotoCorp.
In more updates, the company’s electric vehicles project is progressing as per plans. Hero MotoCorp confirmed that its Chittoor manufacturing facility in Andhra Pradesh is gearing up to produce electric vehicles.