Hero MotoCorp announces its sales report for November 2021. The company mentioned that they sold a total of 3.5 lakh units, including motorcycles and scooters. Motorcycles accounted for 3,29,185 units for the given period; meanwhile, scooters accounted for 20,208 units. The cumulative figure accounting for both motorcycles and scooters stood at 3,49,393 units. In the domestic market, Hero MotoCorp sold a total of 3,28,862 units. Meanwhile, in the international market, the company exported 20,531 units.
Hero MotoCorp mentioned that the delay in the withdrawal of monsoon further delayed the harvesting season, thus impacting the positive festive season sale. But some positive factors like encouraging farm activity, confident consumer index and marriage season, will revive the sales. Furthermore, the decrease in fuel price and increasing spending on the Capex program will help bring back the momentum. Accounting for all these, Hero MotoCorp expects that the demand will bounce back in the upcoming quarter.
The EV market is pretty hot right now. And it is just a matter of time before Hero MotoCorp makes its move and introduces its offering. The company has officially announced that its EV plan is on track. Hero MotoCorp’s Chittoor manufacturing facility in Andhra Pradesh will take up the responsibility to produce the EVs. The team currently is more focused on building the EV ecosystem. This includes battery technology and battery management systems, powertrain, telematics, analytics and diagnostics and charging infrastructure.
Hero MotoCorp has set up its target to launch its first-ever EV product by March 2022. Given the popularity of Hero MotoCorp, we are pretty sure this offering will act as a significant boost for the Indian two-wheeler EV market. In addition to this, Hero MotoCorp will also leverage its considerable presence in the country and aim to set up a viable and robust charging infrastructure. Electric is the future, and we expect Hero MotoCorp to develop more EV offerings in the coming years.
Also Read: Hero MotoCorp’s EV range could be launched under Vida Electric.