Hero MotoCorp shares slide over 3% as December sales drop 17%
Hero MotoCorp shares slid 3.5% to an intraday low of Rs 4,159.90 on the BSE after the company on Thursday reported a 17.5% year-on-year decline in total sales for December, with volumes falling to 3.24 lakh units compared to 3.93 lakh units in the same month last year.
The automaker sold 2.94 lakh units domestically in December, 22% lower than the 3.8 lakh units sold in the same period in 2023. However, exports soared by 91%, reaching 30,754 units, up from 12,110 units in the same period last year, according to the company's regulatory filing.
In December, the company sold 2.98 lakh motorcycles, 15.8% lower than the 3.55 lakh units sold in the same month last year. Scooter sales fell by 32.8%, totaling 26,390 units, compared to 39,294 units sold in the same month of the previous year.
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Hero MotoCorp made significant strides with over 46,662 units of VIDA V1 e-scooters sold in the calendar year 2024. «As we look forward to Calendar Year 2025, we are poised for an exciting journey with key product launches, including the expansion of the EV portfolio, further strengthening of the premium portfolio, and new scooter models in the ICE segment,» said Niranjan Gupta, CEO of Hero MotoCorp.
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