Hero MotoCorp on Tuesday reported an 7.5 per cent year-on-year rise in domestic sales to 5,84,456 units for August on the back of robust sales of entry-level motorcycles in rural and semi-urban markets. The company had sold 5,43,406 units of motorcycles and scooters in August 2019.
On a sequential basis, the company registered a sales growth of 13 per cent. The company had sold 514,509 units in the previous month i.e. July 2020.
“With August marking another step forward in the market’s recovery, the company cautiously anticipates sales to continue their upward trajectory with favourable factors such as the upcoming festive season, increasing consumer confidence and continued government policy support,” the company said.
The New Delhi-based manufacturer had resumed operations at its Haryana and Uttarakhand factories on May 5.
In August, dispatches of motorcycles, including exports, increased 9.2 per cent to 5,44,658 units. The overall exports during the month, however, declined 18.7 per cent to 15,782 units.
At 9:30 am, the shares of Hero Hero MotoCorp had edged lower by 0.25 per cent to Rs 2,987 as against the BSE’s gains of 0.2 per cent. The shares had opened at the intra-day high of Rs 3,055, up 1.9 per cent, on the BSE. The BSE Auto index was trading lower by 0.1 per cent at 17,761.55.