Hero MotoCorp YoY Sales Down In January 2022

Hero MotoCorp Domestic sales take a hit while exports recorded a slight increase

Hero MotoCorp recorded sales of 3,80,476 units in January 2022. The combined sales figures of motorcycles and scooters dropped compared to January 2021, when Hero MotoCorp had sold 4,85,889 two-wheelers. The manufacturer blames the pandemic and the associated crises for the decline.

“The third wave of the pandemic, subsequent staggered state-wise lockdowns, and restricted movement impacted the overall sales volume of the month,” said the Chairman and CEO, Pawan Munjal.

Breaking down, 3,57,845 motorcycles and 22,361 scooters were sold in January 2022, against 4,49,037 motorcycles and 36852 scooters in 2021. The domestic sales fell to 3,58,660 units in 2022 from 4,67,776 in 2021. Exports, however, have recorded a slight increase to 21,816 from 18,113.

Munjal also praised the battery swapping policy announced in Union Budget 2022. He said the new policy has the potential to be a game-changer in catalyzing the migration to EVs, and the industry is committed to sharing its insights and expertise with the Government to make this a reality.

Meanwhile, Hero MotoCorp is continuing to expand its network in Central America. In January, the company commenced retail sales at a newly opened flagship store in San Salvador, the capital of El Salvador. It had recently started in India, the online bookings of the second batch of XPulse 200 4-Valve as well.

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