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Informist, Saturday, Nov. 2, 2024

 

--Hero MotoCorp Oct total despatches 679,091 units vs 574,930 units year ago 

--Hero MotoCorp Oct domestic sales 657,403 units vs 559,766 units year ago 

--Hero MotoCorp Oct exports 21,688 units vs 15,164 units year ago 

 

MUMBAI – Hero MotoCorp Ltd. late Friday reported double-digit sales growth for October on the back of festival season demand from key urban and rural areas in the 100 cubic centimetre and 125 cubic centimetre segments. The two-wheeler company sold 679,091 units of motorcycles and scooters in October, up 18% from 574,930 units sold in the year-ago period, the company said in an exchange filing.

 

While the company's motorcycle sales grew 20% to 635,787 units from 529,341 units in the year-ago period, the company's scooter sales saw a decline of 5% to 43,304 units. In October, the company's domestic sales rose 17.4% on year to 657,403 units, and exports surged 43% to 21,688 units compared to 15,164 units in the same period last year. In 2024-25 (Apr-Mar) so far, the company sold 3.73 million units of motorcycles and scooters, up 11.7% from 3.34 million units sold in the same period last year, Hero MotoCorp said.  

 

The company's electric brand VIDA, reported its highest-ever monthly dispatch of 8,750 units in October. The company also expanded its dealership network to over 50 'Premia' outlets across the country, with plans to reach 100 outlets by March. In October, the company inaugurated nine Premia outlets, making its premium portfolio more accessible to customers. The Premia dealerships offer Hero MotoCorp, VIDA, and Harley-Davidson products, Hero MotoCorp said. 

 

Hero MotoCorp had reported a net profit of INR 11.23 billion for the June quarter on revenues of INR 101.44 billion. On Friday, shares of the company closed at INR 5,020.50 on the National Stock Exchange, up 0.6%.  End 

 

Reported by Ayush Kumar

Edited by Deepshikha Bhardwaj

 

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