Hero MotoCorp sales drop 41 pc in Nov

The countrys largest two-wheeler maker Hero MotoCorp on Wednesday reported a 41 per cent drop in total wholesales at 3,49,393 units in November. In the domestic market, the companys wholesales dropped to 3,28,862 units last month from 5,75,957 units in November 2020.

The country's largest two-wheeler maker Hero MotoCorp on Wednesday reported a 41 per cent drop in total wholesales at 3,49,393 units in November. The company had sold 5,91,091 units in the same month of the previous year, Hero MotoCorp said in a statement. In the domestic market, the company's wholesales dropped to 3,28,862 units last month from 5,75,957 units in November 2020. ''Delay in harvesting due to the late withdrawal of monsoon in many parts of the country, impacted the demand post festive season,'' the company stated. With the economy gradually opening up coupled with several other positive indicators, such as encouraging farm activity, confident consumer index and marriage season, a swift revival in sales is expected in the fourth quarter, it added. ''Additionally, commodity prices showing some signs of softening aided with the reduction of excise duty on fuel, and increased spending on Capex programs by the government is likely to bring back the momentum in the two-wheeler industry,'' Hero MotoCorp noted. The company said its electric vehicles (EV) project is progressing as per plans, and the Chittoor manufacturing facility in Andhra Pradesh is gearing up to produce the green products. The teams at Hero MotoCorp are focused on working across the entire EV ecosystem such as battery technology and battery management systems, powertrain, telematics, analytics and diagnostics and charging infrastructure, it added. Exports last month increased to 20,531 units as against 15,134 units in the year-ago period.

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