Hero MotoCorp sold 4,86,704 units in May 2022, as compared to 1,83,044 units sold during the May 2021 period, recording a growth of 165.89 per cent. The volumes in the month of May indicate the improving consumer sentiment. The company expects the positive trend to continue in the coming months, on the back of a normal monsoon, decent Rabi harvest, and continued government policy support. But the biggest news coming out of the company is that its first electric two-wheeler under the Vida would be introduced during the festive season instead of the July 2022 as earlier announced. The company blames supply chain issues and shortage of various components, including semiconductors as reasons for the delay.
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Swadesh Srivastava, Head of Emerging Mobility Business Unit (EMBU) said, “The ongoing geopolitical situation has resulted in enormous supply chain issues and shortage of various components, including semiconductors. Keeping customers as the top-most priority, we feel it would be prudent to unveil the first EV product around the upcoming festive period instead of July as earlier announced. We are accordingly gearing up for the launch of Vida – Powered by Hero – in the festive season.”
Pawan Munjal unveils Vida brand
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Vikram Kasbekar, Executive Director, Hero MotoCorp, said, “We welcome the recent decision of the government to reduce the central excise duty on petrol and diesel, which has substantially brought down the fuel costs, thereby providing much-needed relief to motorcycle and scooter users in the country. We also welcome the steps taken to cut duties on iron and steel inputs, which should help in softening steel prices in the domestic market.”
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In the month of May, Hero MotoCorp launched the new Hero Splendor+ XTEC. In addition, Hero MotoCorp handed over 20 two-wheelers to the District Administration of Jaipur to support local authorities.
