Hero MotoCorp shares gain despite fall in May sale units

3 Jun 2024 , 01:30 PM

Hero MotoCorp Limited’s shares surged by 4% to ₹5,314 in early trading on June 3, even though the automaker has reported a decline in sales for the month of May compared to the previous corresponding period.

In May, the well-known producer of motorbikes and scooters had a 4% drop in sales, with 4,98,123 units sold overall. Compared to the same period last year, when the company sold 5,19,474 units, this result represented a decline.

More specifically, the Splendor-manufacturer saw a nearly 6% fall in domestic sales. According to official figures, the corporation sold 4,79,450 units domestically in May, compared to little over 5 lakh units sold in the same month of the previous year.

On the other hand, the company’s exports increased significantly in May, rising by more than 67%. 18,673 automobiles were exported during the month, up from 11,165 during the same period in the previous fiscal year.”

The company is confident that new products in the premium and 125 cc segments would increase market share in FY25. Hero MotoCorp’s management said in a post-results earnings call, “We anticipate accelerated growth in FY25 and are confident that the premium and 125 cc segments will gain market share.”

Hero MotoCorp anticipates that the Maverick 440, Harley Davidson X440, and Karizma, three of its new premium class bikes, would do admirably. Furthermore, the 125 cc class, which includes the Xtreme 125R, Splendour, and Glamour, is getting great feedback.

At around 1.24 PM, Hero MotoCorp was trading 1.28% higher at ₹5,185 per piece, against the previous close of ₹5,119.60 on NSE.

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