Shares of Hero MotoCorp were trading in red and 2% lower on 3 January after the company reported a 0.05% decline in its sales for December.

The world’s largest two-wheeler company reported a 0.05% year-on-year decline in its total sales to 3,93,952 units in December 2023 against 3,94,179 units reported in December 2022.

Motorcycle sales during the month stood at 3,54,658 units, marking a 0.58% decline against 3,56,749 units reported in the same month of the previous year. However, the scooter sales during the month saw a 4.9% YoY increase to 39,294 units against 37,430 units recorded in the corresponding period a year ago.

The exports during the month stood at 16,000 units, marking a 25% YoY increase from 12,814 units reported in the same month of the previous year.

Looking at the company’s annual sales growth, the company has sold more than 54.99 lakh units from January to December 2023, which is a 5% increase from 52.47 lakh units sold during the 2022 calendar year.

The company added, “With increased government spending and improved liquidity, encouraging farm activity and the upcoming marriage season, the company expects a positive momentum to build up from the fourth quarter onwards.”

At 11:51 am, the shares of Hero MotoCorp were trading 2.16% lower at Rs 3,999 on NSE.