New Delhi, Hero MotoCorp, a leading manufacturer of motorcycles and scooters in India reported sales of 3,49,393 units in November 2021 as compared to 5,41,437 units sold in November 2020. The company sold 3,28,862 units in the domestic market last month as against 5,75,957 units sold in the same year-ago period, as per monthly data released by the company on Wednesday.
The company sold 3,29,185 motorcycles and 20,208 scooters in November 2021 as against the 5,41,437 motorcycles and 49,654 scooters sold in November 2020. Exports for the month of November 2021 amounted to 20,531 units as opposed to 15,134 units sold in the international market in the same year-ago period.
Delay in harvesting due to the late withdrawal of monsoon in many parts of the country, impacted the demand post festive season, a company statement said, adding that it expects a swift revival in sales in the fourth quarter buoyed by gradual opening up of the economy coupled with several other positive indicators, such as encouraging farm activity, confident consumer index and marriage season.
Additionally, commodity prices showing some signs of softening aided with the reduction of excise duty on fuel, and increased spending on Capex programmes by the government is likely to bring back the momentum in the two-wheeler industry.
The company’s electric vehicles (EV) project is progressing as per plans, and the Chittoor manufacturing facility in Andhra Pradesh is gearing up to produce green vehicles. Efforts are on to work across the entire EV eco-system such as battery technology and battery management systems, power train, telematics, analytics and diagnostics and charging infrastructure.