Hero MotoCorp has reported its sales for January 2022 and the company sold a total of 380,476 units as against 485,889 units sold in January 2021. Sales were down by 22 per cent year-on-year. The company's domestic sales stood at 358,660 units, down by 30 per cent, while exports increased by nearly 17 per cent during the previous month at 21,816 units. The brand claims that the drop in sales is primarily due to the third Covid-19 wave along with staggered state-wise lockdowns and restricted movement, all of which impacted the overall sales volume for the last month. Hero MotoCorp is anticipating a positive new year backed by the announcements made under the Union Budget 2022.
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Rural demand is expected to return with the base MSP announced for farmers which will benefit players like Hero MotoCorp
Commenting on the Union Budget 2022, Dr Pawan Munjal, Chairman & CEO, Hero MotoCorp, said, "One of the landmark announcements of this Budget is the battery swapping policy, which has the potential to be a game-changer in catalysing the migration to EVs. While the scale of its impact will be clear upon the formation of the policy, the industry is committed to sharing its insights and expertise with the government to make this a reality. I am personally delighted with this move by the government as it resonates with our company's and my own commitment to the cause of sustainability. The renewed focus on sustainability through natural and organic farming, PLI on green energy and the creation of funds will further India's efforts to meet climate-change goals for a sustainable future.
"The continued focus on infrastructure will not only improve the quality of lives and generate jobs but will also help Indian industry become globally competitive," Dr Munjal added further.
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Scooters continue to bring only a fraction of Hero's total sales with 22,631 units sold in January 2022
Hero MotoCorp's motorcycle sales stood at 357,845 units in January this year, down by 25.48 per cent. On the other hand, scooters contributed 22,631 units that were down by nearly 63 per cent. Motorcycles continue to be the strongest sellers for the company with models like the Splendor and Passion Pro bringing a major chunk of the volumes. The company also opened bookings for the second batch of the Hero XPulse 200 4V in January that has received a strong response. The manufacturer is now gearing up to unveil its first electric two-wheeler in March this year.
