Hero MotoCorp March sales decline by 21%

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Hero MotoCorp March sales on YoY

Hero MotoCorp March sales: India’s multinational motorcycle firm Hero MotoCorp posted its sales in March 2022. The total sales of Hero MotoCorp declined by 21.98% to 4,50,154 units as compared to the same period in 2021. In March 2021, the company had posted total sales of 5,76,957 units.

According to the source, MotoCorp has reported as March sales jumped by 25.65% against 3,58,254 units sold in February 2022. On a YoY basis, the firm’s sold total motorcycles of 4,25,721 units which was down nearly 18.85%. On the other hand, scooter sales were down 53.33% to 24,433 units on YoY.

The total domestic sales of last month’s 4,15,764 units declined by 23.6% YoY. Furthermore, total exports were 34,390 units up by 5.44% YoY.

In the coming fiscal year, the officials of the firm expect sales momentum to gather due to the gradual withdrawal of pandemic restrictions as Covid-19 cases decline and all sectors of the economy are reopened.

A year ago, the company’s sales totaled 57,91,539 units; this year, they fell to 49,44,150 units. The second and third waves of the Coronavirus pandemic caused significant disruptions in the auto industry during FY22, restricting customer movement.

Hero MotoCorp is one of the largest manufacturers of motorcycles and scooters in the world. The company’s net profit for Q3 FY22 declined by 30.95% over Q3 FY21 to Rs 703.74 crore due to a decline in net sales of 18.46%. 

The Hero MotoCorp share price raised 3.21% to Rs. 2,312.00. Today, the share price reached a day high of Rs. 2,319.00.

Further, the 52-week high stated at Rs. 3,090.00 and the 52-week low stood at Rs. 2,146.85. 

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