Hero MotoCorp registers record sales of 715,718 units in September 2020

Continuing to strengthen its market leadership, Hero MotoCorp - the world's largest manufacturer of motorcycles and scooters - registered record sales of 715,718 units in September 2020 - its highest sales in a single month in the calendar year of 2020.

This translates into a growth of 16.9% over the corresponding month of the previous year (September 2019), when the company had sold 612,204 units.

The company has reported domestic sales of 697,293 units in September 2020, as compared to 600,509 units in September 2019. Exports were also higher in September 2020 at 18,425 units as against 11,695 units in September 2019.

The company has sold 660,948 Motorcycles in September 2020, as compared to 558,696 in September 2019. Scooters sales was lower at 54,770 units in September 2020, as against 53,508 units in September 2019.

Despite the disrupted network of components supply chain due to the non-availability of labour and issues with regard to logistics, Hero MotoCorp sold 18,14,683 units in the second quarter (July-September) of the current fiscal (FY'21), clocking a healthy Year-onYear growth of more than 7.3%. The Company had sold 16,91,420 units in the second quarter of FY'20.

With the peak festival season coming up in the months of October and November, Hero MotoCorp remains cautiously confident of achieving yet another benchmark in post-Covid retail sales with the help of positive consumer sentiments and continued government policy support.

To partially offset the rising input costs and commodity prices, the Company has made an upward revision in the ex-showroom prices of its motorcycles and scooters by up to 2%, with the exact quantum varying on the basis of the model and specific market. The revised prices are effective from October 1, 2020.

Operating at nearly 100% production capacity with almost all customer touchpoints open, the Company remains committed to the health and safety of everyone in its ecosystem, including its customers.

Shares of HERO MOTOCORP LTD. was last trading in BSE at Rs.3153 as compared to the previous close of Rs. 3145.85. The total number of shares traded during the day was 27033 in over 2806 trades.

The stock hit an intraday high of Rs. 3197.5 and intraday low of 3114.35. The net turnover during the day was Rs. 85527167.

Source : Equity Bulls

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