Hero MotoCorp sells 4.54 lakh units in July, new launches power prospects1 min read . Updated: 01 Aug 2021, 09:12 PM IST
Hero MotoCorp expects rural economy and semi-urban market to bounce back on the back of good monsoon and customers’ preference for personal mobility.
Hero MotoCorp on Sunday announced it had sold a total of 4.54 lakh units in the country in the month of July and while this is significanly lower than the 5.20 lakh sold in the same month in 2020, the company is crediting new launches in the 125cc category to lead the process of recovery.
(Also read: Royal Enfield sales report for July)
Hero MotoCorp is the world's largest manufacturer of motorcycles and scooters but the going has been especially difficult for the two-wheeler segment at large this year owing to the pandemic reaching smaller towns and rural parts of India. The worst from the second wave may be over as Hero sold 4.24 lakh units in the last month and also launched two new products in the 125cc category at the start of Q2 - Glamour Xtec and an updated Maestro Edge 125 scooter.
Exports are a source of cheer and were up to 25,190 units last month, vis-a-vis just 7,562 units in June of 2020. It is important to note here that the pandemic and its effects on the market and economy have been varied between this year and the last.
The upcoming months are also signaling a conducive environment for an upswing. The company informs that most of its retail touch-points are operational across the country and it is further baking on the rural economy and semi-urban market to bounce back on the back of good monsoon and customers’ preference for personal mobility.