Hero MotoCorp Registers 17 Percent Decrease In Oct 22 Sales

The company sold 454,582 units last month, a 17 percent sales decrease as compared to the 505,957 units sold in October 2021, according to Hero MotoCorp's wholesale numbers for October 2022. Despite the corporation having a successful holiday season, volumes have decreased.

In terms of wholesale volumes, Hero came in first place, followed by Honda Motorcycle & Scooter India (HMSI), with a difference of only 5,191 units. Hero recently disclosed that during the 32-day holiday period between Navratras and Bhaidooj, retail growth increased by 20 percent. The company claimed that the high retail volumes had contributed to the consolidation of its dominance in the domestic two-wheeler sector. Additionally, a successful holiday season contributed to the lowest post-holiday inventories in the prior five years.

Hero sold 419,568 motorcycles in October of this year, down 17 percent from the 505,957 motorcycles sold in October of last year. Scooter sales decreased by 16.66 percent in comparison to the same month last year, when 42,013 scooters were sold. Hero sold 442,825 units domestically, a decrease of 16.10 percent from the 527,779 units sold in October 2021. With 11,757 units exported this month compared to 20,191 units in the same month last year, exports likewise fell by 41.77 percent.

Hero MotoCorp continues to be on the upswing in terms of year-to-date sales, with overall volumes up 9.23 percent. The company sold 30,58,185 units between April and October 2022 as opposed to 27,99,698 units during the same time the prior fiscal year.