Hot Pursuit     03-Jun-24
Hero MotoCorp two-wheeler sales dip 4% YoY in May’24
Hero MotoCorp sold 498,123 units of motorcycles and scooters in May 2024, which is lower by 4.11% as compared with sales of 519,474 units recorded in May 2023.
While the company’s motorcycles sales shed by 3.71% to 471,186 units, scooters sales dropped 10.62% to 26,937 units in May 2024 over May 2023.

During the period under review, sales of motorcycles and scooters in the domestic market aggregated to 479,450 units (down 5.68% YoY) while exports of the same was at 18,673 units (up 67.25% YoY).

Meanwhile, the company joined the ONDC Network, becoming the country’s first auto company to join the network. Partnering with ONDC has further enhanced the company’s reach, beyond its largest physical distribution and service network. The open network will initially offer two-wheeler parts, accessories and merchandise.

Hero MotoCorp is engaged in the manufacturing and selling of motorised two-wheelers, spare parts and related services. The Company is a leading two wheeler manufacturer and has a dominant presence in domestic market.

The company has reported 18.29% increase in standalone net profit to Rs 1,016.05 crore on a 14.6% rise in revenue to Rs 9,519.30 crore in Q4 FY24 as compared with Q4 FY23.

The scrip rose 1.66% to currently trade at Rs 5,204.35 on the BSE. The counter has hit an all time high of Rs 5,305.45 in today’s intraday session.

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