Hero MotoCorp’s share price fell by over 3% after the company reported a 17.5% decline in December 2024 sales compared to the same month last year. Here are the key points:
- Sales Figures: Hero MotoCorp sold 324,906 units in December 2024, down from 393,952 units in December 2023.
- Domestic Sales: Domestic sales dropped by 22.1% to 294,152 units from 377,842 units.
- Exports: Exports, however, saw a significant increase of 90.9%, rising to 30,754 units from 16,110 units.
- Segment Performance: Motorcycle sales fell by 15.8% to 298,516 units, while scooter sales declined by 32.8% to 26,390 units.
- Full Year Performance: For the entire year of 2024, Hero MotoCorp recorded a 7.5% growth in volumes, selling 59,11,065 vehicles compared to 54,99,524 vehicles in 2023.
- Electric Vehicles: The company sold over 46,662 units of its VIDA V1 e-scooters in 2024.
- Future Plans: Hero MotoCorp plans to launch new premium motorcycles and scooters, including electric vehicles, and expand its VIDA fast-charging network.
Despite the recent drop in share price, Hero MotoCorp remains optimistic about its future growth prospects, especially with upcoming product launches and expansion in the electric vehicle segment.