Two-Wheeler Sales November 2021: Hero MotoCorp Sales Skid 69 Per Cent

Hero MotoCorp has announced two-wheeler sales of 3,49,393 units in the month of November 2021. The world's largest two-wheeler manufacturer by volume reported a 69 per cent decline in overall monthly sales, compared to 5,91,091 units sold in the same month a year ago. According to the company, delay in harvesting due to the late withdrawal of monsoon in many parts of the country, impacted the demand after the festive season. Pressure in sales is prominent in the domestic market, but export sales are seeing an uptick.

Also Read: Hero MotoCorp October 2021 Sales Decline 32 Per Cent

Motorcycle sales accounted for 3,29,185 units in November 2021, compared to 5,41,437 units in November 2020, a decline of over 64 per cent. Comparatively, Hero's scooter sales accounted for just 20,208 units, but scooter sales saw a massive decline of 145 per cent from 49,654 units Hero had recorded in November 2020. Overall domestic market sales volumes in November 2021 are at 3,28,862, a massive 75 per cent decline over 5,75,957 units sold in the same month a year ago.

Also Read: Hero MotoCorp Q2 Profit Declines 22 Per Cent; Confirms EV Launch By March 2022

Hero MotoCorp is optimistic about a revival in demand for the two-wheeler industry with the economy gradually opening up.

According to Hero MotoCorp, with the economy gradually opening up coupled with several other positive indicators, such as encouraging farm activity, confident consumer index and the marriage season, a swift revival in sales is expected in the fourth quarter. In addition, 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.

Also Read: Hero MotoCorp Trademarks Vida Name; Could Be New EV Vertical Brand Name

Dr. Pawan Munjal with a prototype of the upcoming Hero MotoCorp electric scooter.

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 the green products. The teams at Hero MotoCorp are focused on working across the entire EV eco-system such as battery technology and battery management systems, powertrain, telematics, analytics and diagnostics and charging infrastructure. Swadesh Srivastava has recently been appointed to head Hero MotoCorp's Emerging Mobility Business Unit (EMBU), which is set for the launch of the first EV product by March 2022.