Hero MotoCorp Sales In December Falls 17%

Hero MotoCorp's total sales in December fell by 17.5% to 3.24 lakh units, the company reported on Thursday. This compares to 3.93 lakh units sold 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, the company said in a regulatory filing. Exports registered a 91% increase at 30,754 units last month, from 12,110 units in December 2023.

The company in December sold 2.98 lakh motorcycles, 15.8% lower than the 3.55 lakh units sold in the same month last year. The sales of scooters fell 32.8% to 26,390 units in comparison to 39,294 units sold in the same month in the previous year.

Hero MotoCorp made significant strides with sales of over 46,662 units of VIDA V1 e-scooters 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, chief executive officer of Hero MotoCorp.

The company in December expanded its collaboration with iconic American brand Harley-Davidson to introduce new products. As part of the deal, the partners will introduce new trims of Harley-Davidson X440 and develop an all-new bike.

Hero MotoCorp's stock rose as much as 3.29% during the day to Rs 4,322.15 apiece on the NSE. The stock closed 3.04% higher at Rs 4,311.50 per share. This compares with a 1.88% advance in the benchmark Nifty 50. It has risen 5.46% in the last 12 months.

Out of 44 analysts tracking the company, 30 maintain a 'buy' rating, seven recommend a 'hold,' and seven suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 22.6%.