Hero MotoCorp Ltd reports its highest-ever sales in October 2020

Reflecting a strong customer preference for most trusted brands, Hero MotoCorp Ltd, the world's largest two-wheeler manufacturer, sold 806,848 units of motorcycles and scooters in October 2020 - its highest-ever sales in any single month.

Continuing its growth momentum, Hero MotoCorp reported a robust double-digit growth of 35% over the corresponding month of the previous year (October 2019), when the company had sold 599,248 units.

The company has reported domestic sales of 791,137 units in October 2020, as compared to 599,248 units in October 2019. Exports were also higher in October 2020 at 15,711 units as against 12,260 units in October 2019.

The company has sold 732,498 Motorcycles in October 2020, as compared to 552,672 in October 2019. Scooters sales jumped to 74,350 units in October 2020, as against 46,576 units in October 2019.

A positive turnaround in customer sentiments - particularly for motorcycles across markets, continued government policy support and a credible resumption of supply chain, logistics and business operations have enabled the company to achieve record numbers during the auspicious festive period.

With the higher dispatches during the month, the company's customer touch points across the country now have adequate inventories in line with market demand in the ongoing festival period.

The company has also registered significant gains in market share in the second quarter (July-September) across product categories and geographies and expect to further build on this momentum going ahead.

Shares of HERO MOTOCORP LTD. was last trading in BSE at Rs.2799.8 as compared to the previous close of Rs. 2893.2. The total number of shares traded during the day was 80304 in over 7591 trades.

The stock hit an intraday high of Rs. 2927.35 and intraday low of 2786.55. The net turnover during the day was Rs. 227536442.

Source : Equity Bulls

Keywords