Hero Morocorp February sales drop 29% on weak domestic demand

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New Delhi : Hero MotoCorp, India’s top manufacturer of motorcycles and scooters has sold 358,254 units in February 2022, a drop of 29% from over 5 lakh vehicles in February 2021.

Out of the 358,254 units, 3.38 lakh are Motorcycles and 19,800 are scooters. The drop in February sales is mainly due to 31% drop in domestic motorcycle sales at 331462 units.

The company’s sales in the April-February period declined by 13.8% to 44,93,996 units, from 5214581 units during the corresponding 11 months in FY21.

“With a sharp decline in the number of Covid-19 cases and the economy gradually opening up with several other positive indicators, such as easing of the lockdown restrictions, as well as the measures announced in the FY’23 Union Budget, a swift revival in sales is expected in the coming months” the company said.

In the month of February 2022, Hero MotoCorp became the first automotive OEM to tie up with a leading Public Sector Undertaking (PSU) to set up charging infrastructure across the length and breadth of the country. The company has collaborated with Bharat Petroleum Corporation Limited (BPCL), to establish charging infrastructure for two-wheeled electric vehicles (EVs) across the country in its endeavor to electrify India.

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