Hero MotoCorp has recorded that the brand sold a total of 3.5 lakh units, including motorcycles and scooters in the month of November 2021. According to the brand, the company sold 3,29,185 units in November 2021. In addition to this, Hero MotoCorp sold 20,208 units of scooters for the same month. The brand registered that both motorcycles and scooters together reached 3,49,393 units of sales. In the domestic market, the brand announced that it sold a total of 3,28,862 units. While international market sales reached 20,531 units.
Hero MotoCorp – Demand May Rise in Fourth Quarter
Hero MotoCorp revealed that the delay in the withdrawal of monsoon season has further delayed the harvesting season. This has led to an impact on the positive festive season sale. However, positive factors such as boosting farm activity, secure consumer index and the marriage season, are likely to further revive the sales. In addition to this, the brand also reveals that the decrease in fuel price and increasing spending on the Capex program will help boost sales further in the fourth quarter. Therefore Hero MotoCorp thinks that the demand is likely to increase in the fourth quarter.
Electric Vehicle Demand
Another segment in the two-wheeler industry that is pulling demand is the Electric Two Wheelers. The brand is also planning to enter the EV segment soon. The brand also confirmed that its EV plans are on track. In fact, Hero MotoCorp also revealed that the Chittoor manufacturing facility in Andhra Pradesh will take up the responsibility to produce its upcoming EVs. The company is currently focused on building a new EV ecosystem. The ecosystem will include powertrain, battery technology, battery management systems, telematics, analytics and diagnostics and charging infrastructure.
Hero MotoCorp plans to launch its first-ever EV product by March 2022. The brand also aims to set up a viable and robust charging infrastructure. In the near future, Hero MotoCorp is also likely to develop more EV offerings for the Indian market as well as exports.
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