Hero MotoCorp share price dropped over 3% in early trade on Friday after the company reported a sharp fall in December sales. Hero MotoCorp shares declined as much as 3.5% to ₹4,159.90 apiece on the BSE.
Hero MotoCorp, the largest two-wheeler manufacturer in the world, reported a 17.5% fall in its December 2024 sales at 324,906 units as against 393,952 units in the same month a year-ago.
The company’s domestic sales in December 2024 plunged 22.1% to 294,152 units from 377,842 units, year-on-year (YoY), while exports jumped 90.9% to 30,754 units from 16,110 units, YoY.
For the full year 2024, Hero MotoCorp recorded a 7.5% growth in volumes as it sold 59,11,065 vehicles as compared to 54,99,524 two-wheelers sold in 2023.
In December, motorcycle sales dropped 15.8% YoY to 298,516 units, while scooter sales declined 32.8% YoY to 26,390 units.
“As we look forward to Calendar Year 2025, we are poised for an exciting journey with key product launches including expansion of EV portfolio, further strengthening of premium portfolio and new scooter models in ICE segment. We believe an improvement in the broader customer sentiment may lead to even stronger demand recovery for us and the industry,” said Niranjan Gupta, Chief Executive Officer of Hero MotoCorp Ltd.
Electric Vehicle
In the electric vehicle (EV) segment, Hero MotoCorp reported sales of over 46,662 units of VIDA V1 e-scooters in the CY 2024.
“To enhance customer experience and offer a hassle-free riding experience, the company has established an expansive VIDA fast-charging network with over 3100 charging points across 250+ cities in India and has an extensive network of over 500 service touchpoints,” Hero MotoCorp said in a regulatory filing on January 2.
Hero MotoCorp Stock Price Trend
Hero MotoCorp share price has fallen over 10% in one month and 25% in six months. The auto stock has gained 6% in one year and more than 55% in two years.
At 9:54 AM, Hero MotoCorp shares were trading 2.00% lower at ₹4,224.20 apiece on the BSE.
