Hero MotoCorp Reports 5% Yearly Increase in August Wholesales

Hero MotoCorp reported a 5% year-on-year increase in wholesales for August, reaching 5,12,360 units. Domestic sales rose to 4,92,263 units, while exports climbed to 20,097. Despite minor supply shortages impacting sales, the company projects robust growth for the upcoming festive season, particularly in rural areas and the 125cc segment.

Hero MotoCorp announced on Sunday a 5% year-on-year increase in wholesales, totaling 5,12,360 units for August.

The two-wheeler giant had previously dispatched 4,88,717 units to dealers in August 2023. Domestic sales saw an uptick to 4,92,263 units compared to 4,72,947 units during the same period last year.

Although August sales experienced minor setbacks due to supply shortages, the company expects to recover in September.

Exports also improved, rising to 20,097 units last month from 15,770 units in August 2023.

Looking ahead, Hero MotoCorp is gearing up for the upcoming festive season, anticipating strong growth driven by a faster recovery in the rural segment, the 125cc segment, new scooter launches, and robust investment in power brands.

(With inputs from agencies.)