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Hero MotoCorp records 7.55% YoY growth; sells 584,456 units in August

World's largest manufacturer of motorcycles and scooters sold 584,456 units of motorcycles compared to 543,406 units sold in August 2019; sequentially, it clocked in a 13 per cent growth over July when it sold 514,509 units

Hero MotoCorp records 7.55% YoY growth; sells 584,456 units in August

Hero MotoCorp says its latest offering Xtreme 160R has led to an increase in its premium segment market share

Sprinting ahead with the fourth consecutive month of growth in sales, Hero MotoCorp has surpassed pre-COVID levels in volume terms with a 13 per cent growth in sales in August over July and 7.55 per cent growth on year-on year basis.

The world's largest manufacturer of motorcycles and scooters sold 584,456 units of motorcycles compared to 543,406 units sold in August 2019. Sequentially, the company clocked in a 13 per cent growth over July when it sold 514,509 units. The exports are yet to pick-up as total export in August stood at 15,782 compared to 19,403 units shipped in August 2019.

ALSO READ: Maruti sees 21.3% growth in August, wholesale dispatches cross 1 lakh for first time since February

In a statement, Hero MotoCorp said its latest addition to a range of premium motorcycles -- the Xtreme 160R -- has received very positive feedback from the market and has led to an increase in the company's premium segment market share.

"The company is also witnessing strong retail off-take and is currently operating in pull-market with rural and semi-urban centres driving demand. 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 statement said.  

Besides, Hero MotoCorp also donated 10 unique First Responder Vehicles (FRVs) -- an upgrade on Hero MotoCorp's powerful X-Treme 200R motorcycle -- to the government and health authorities in Gurugram, Rewari and Dharuhera in Haryana and Halol in Gujarat to help to reach out to patients in rural and remote areas.

The domestic automobile sector showed signs of a strong revival with a 20 per cent growth in dispatches of passenger vehicles in August over the year-ago period.  

Meanwhile, Hero MotoCorp stock was trading 10.96 per cent or 28.60 per cent lower at Rs 2,937 compared to the previous session close of Rs 2,995.6 on the National Stock Exchange.

Also read: 

Hero MotoCorp sales fall 4% in July, surpass 5 lakh units

Hero MotoCorp Q1 results: Profit falls 95% to Rs 61 crore; revenue down 63%

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