Hero MotoCorp’s Sales Fall 12%, Sharply Below Estimates

TVS Motor Co Ltd.’s two-wheeler sales in the domestic market grew 17% to 2.35 lakh units helping the overall tally to register a growth.

The strong domestic show limited the impact of an over 21% decline in motorcycle exports to 77,077 units.

Within two-wheelers, motorcycle sales grew 2%, while scooters recorded a growth of 5%.

Sales Highlights (YoY):

  • Total sales rose 4% to 3.26 lakh units.

  • Two-wheeler sales rose 4% to 3.12 lakh units.

  • Three-wheeler sales fell 8.8% to 13,670 units.

  • Exports fell 20% to 89,213 units.

The sales of the company’s iQube electric scooter more than doubled to 13,306 units in the month.