Hero MotoCorp reported its wholesale figures for October 2022 and the company sold 454,582 units last month, registering a 17 per cent decline in volumes when compared to 505,957 units sold in October 2021. The drop in volumes comes despite a strong festive season for the company. Hero said that “with festivals of Dussehra and Diwali – which triggers record retail buying – occurring in the month of October this year, the dispatch sales of October are not comparable to the previous years when the festival days are usually spread across the months of October and November.”
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It’s noteworthy that arch-rival Honda Motorcycle & Scooter India (HMSI) was a close second after Hero in wholesale volumes with a difference of just 5,191 units. That said, Hero recently announced that it registered a 20 per cent hike in retail growth during the 32-day festive season between Navratras and Bhaidooj. The company said that the strong retail volumes helped strengthen its leadership in the domestic two-wheeler market. Furthermore, a strong festive season also helped reduce post-festive inventory to the lowest in the previous five years.
Hero’s domestic sales stood at 442,825 units, dropping 16.10 per cent year-on-year
Hero’s motorcycle sales stood at 419,568 units in October this year, a decline of 17 per cent over 505,957 units sold in October last year. Scooter volumes were down by 16.66 per cent at 35,014 units, as against 42,013 units sold during the same month last year. Hero’s domestic sales stood at 442,825 units, dropping 16.10 per cent over 527,779 units sold in October 2021. Exports also declined by 41.77 per cent with 11,757 units shipped last month, as against 20,191 units during the same month last year.
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With respect to year-to-date sales, Hero MotoCorp is maintaining a positive note with a growth of 9.23 per cent in overall volumes. Between April and October 2022, the company sold 30,58,185 units as against 27,99,698 units during the same period last fiscal.