Hero MotoCorp Sells More Than 5.9 Lakh Motorcycles In May, Expects Trend To Continue
/
Companies/
News/ Hero MotoCorp sells more than 5.9 lakh motorcycles in May, expects trend to continue
Hero MotoCorp's May 2023 sales rose by 7% YoY to 519,474 units, driven by increased customer sentiment, normal monsoon, and new launches.
Leading two-wheelers manufacturer, Hero MotoCorp registered 7% year-on-year growth in sales to 519,474 units during May 2023. The automobile player expects the upside trend in sales to continue in the coming months owing to customer sentiments uptick, normal monsoon, and new launches.
A year ago, in May, the total sales were at 486,704 units.
As per the regulatory filing, of the total sales in May 2023, Hero MotoCorp sold 489,336 motorcycles and 30,138 scooters as against 452,246 motorcycles and 34,458 scooters sold in May 2022.
Domestic sales stood at 508,309 units in May 2023, up from sales of 466,466 units in May last year.
On the contrary, the company's exports declined to 11,165 units in May 2023 versus 20,238 units in May 2022.
Read here: M&M share price rallies as strong SUVs demand drive May sales; should you buy this auto stock?
In May 2023, Hero MotoCorp introduced the OBD-II & E20 compliant XPulse 200 4V. This is in line with the company’s commitment to bring cleaner and technologically advanced mobility solutions.
In its regulatory filing, Hero MotoCorp said, "The momentum is expected to continue in the coming months, driven by an uptick in customer sentiments, forecast of normal monsoon, and a host of new launches in the premium segment."
Read here: Bajaj Auto’s May sales beat estimates, but export decline YoY casts shadow
Between April to May 2023, Hero MotoCorp's sales jumped to 915,581 units as against 905,326 units in the corresponding period of the previous year.
On BSE, Hero MotoCorp's share price closed at ₹2800.75 apiece up by 1.4%.
Catch all the
Corporate newsand Updates on Live Mint. Download The
Mint News Appto get Daily
Market UpdatesBusiness News.
Updated: 01 Jun 2023, 10:53 PM IST
Next Story
No Network
Server Issue
Internet Not Available
Labour's Winning Streak: Momentum Builds In The 2024 Local Elections
As the 2024 local elections unfold, Labour has emerged as a formidable force, securing a series of significant victories... Read more
Revisiting Campus Conflict: Rethinking The Role Of Law Enforcement Amidst Student Protests
Recent clashes between protesters and law enforcement at Columbia University and other American campuses have sparked re... Read more
Pro-Palestinian Protests Surge: Unveiling Fault Lines On American Campuses
In recent months, American universities have become the focal points of escalating pro-Palestinian protests, with events... Read more
Hong Kong Introduces Groundbreaking Cryptocurrency ETFs For Retail Investors
Hong Kong has entered a new era in the realm of cryptocurrency investments with the recent introduction of the first spo... Read more
UK's Local Elections 2024: A Decisive Political Landscape Shift
In the spring of 2024, the United Kingdom witnessed a pivotal moment in its democratic process as local elections unfold... Read more
The Fragile Lifeline: America's Aid To Ukraine Amidst Political Struggles
Amidst escalating tensions with Russia, the United States has once again extended a vital lifeline to Ukraine in the for... Read more