Signals, Powered By EquityPandit
Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, sold 547,970 units of two-wheelers in October 2021 against the 806,848 units being sold last year during the same phase. This is a massive 32 per cent decline for the manufacturer.
Meanwhile, Hero MotoCorp registered a rise in the export of motorcycles and scooters. The company dispatched 20,191 units last month compared to over 15,711 units being exported in the previous year in October. Both motorcycles and scooters sales figures have seen a drop in the domestic market due to Covid-19 and other economic challenges. Hero MotoCorp sold 732,498 motorcycles in October 2020 as compared to 505,957 units this year during the same month. The scooters sales came down to 42,013 during October 21 against the 74,350 units sold last year.
- US Climate Financing Reaches $11 Billion in 2024
- Govt Likely to Surpass FY25 Direct Tax Target: CBDT Chief
- RVNL Receives Rs 295 Crore Contract from South Central Railway, Shares Trading Flat
- ACME Solar Shares Hit 10% Upper Circuit as Subsidiary Secures Rs 3,953 Crore Loan
- Tata Electronics Acquires 60% Stake in Pegatron’s Tamil Nadu iPhone Plant
“Demand in the festive season has been building up as we move towards Dhanteras and Diwali, and we expect healthy retail over the coming weeks. With the economy gradually opening up with several other positive indicators, such as encouraging farm activity and surge in preference for personal mobility, a swift revival in sales is expected in the coming months,” said Hero MotoCorp.
Stock Covered in the news
