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Hero MotoCorp Ltd reports sales of 591,091 units in November 2020

Posted On: 2020-12-01 05:47:21 (Time Zone: Arizona, USA)


Strengthening its market leadership, Hero MotoCorp Ltd, the world's largest two-wheeler manufacturer, registered yet another month of strong sales. The company sold 591,091 units of motorcycles and scooters in November 2020.

Continuing to ride over the challenging market conditions caused by Covid-19, Hero MotoCorp reported a robust double-digit growth of 14.4% over the corresponding month of the previous year (November 2019), when the company had sold 516,775 units.

The company has reported domestic sales of 591,091 units in November 2020, as compared to 516,775 units in November 2019. Exports were also higher in November 2020 at 15,134 units as against 10,781 units in November 2019.

The company has sold 541,437 Motorcycles in November 2020, as compared to 479,434 in November 2019. Scooters sales jumped to 49,654 units in November 2020, as against 37,341 units in November 2019.

Hero MotoCorp has led the revival in the two-wheeler industry this year and this was witnessed in the record retail sales that the company registered in the recently concluded festival period. More than 14 lakh units were retailed in the 32-day period starting from Navratras till Bhai-Duj.

A best-in-class product portfolio, various festive initiatives, new-age digital sales solutions and a safe and sanitized customer buying experience at dealerships enabled the surge in sales.

The strong growth in sales has seen the company further strengthening its market leadership across motorcycle and scooter category, signaling the strong faith that Indian buyers continue to show for the most trusted brands.

The company has been continuously ramping up supply and production across its manufacturing units to cater to the increased demand. Hero MotoCorp believes that the growth in personal mobility post Covid-19 restrictions will further strengthen the demand for two-wheelers. The company intends to further strengthen its product portfolio, as well as consumer offerings to ride this wave further.

Shares of HERO MOTOCORP LTD. was last trading in BSE at Rs.3108.9 as compared to the previous close of Rs. 3104.65. The total number of shares traded during the day was 34900 in over 2994 trades.

The stock hit an intraday high of Rs. 3150 and intraday low of 3075. The net turnover during the day was Rs. 108532519.


Source: Equity Bulls

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