Hero MotoCorp sales dip 22% in August, hopes for revival during festive season

India's largest two-wheeler manufacturer Hero MotoCorp has reported a 22% decline in August 2021, as compared to the same month a year ago. The homegrown two-wheeler manufacturer registered 453,879 units last month, compared to 584,456 units in August 2020.

The company has sold a total of 19,32,784 units of two-wheelers between April-August in FY22. During the same period in last fiscal, the company sold 16,62,233 units of two-wheelers.

In the domestic market, Hero MotoCorp sold 431,137 units of two-wheelers last month. The company registered 568,674 units of domestic sales in the same month last year. It registered 18,01,052 units between April-August this fiscal.

Hero MotoCorp has sold 420,609 units of motorcycles and 33,270 units of scooters last month.

The two-wheeler manufacturer has said that it is not gearing up for the upcoming festive season. The festive season is usually the time when the auto manufacturers in India registered the most sales.

The company also said that with several positive indicators, such as the decent monsoon resulting in encouraging agricultural activity in the major parts of the country, and the several government schemes in the social sector, the company is optimistic about higher demand in the coming months.

As the Covid-19 vaccination is gaining pace around the country and last-mile retail is opening up further, Hero MotoCorp believes the number of sales is likely to be in a positive zone in the coming months. Not only in the domestic market, with the economic activities reviving in faster pace around the world, the company believes its export numbers will increase as well.