Hero MotoCorp domestic sales down 3% in April at 386,184 units

The country's largest two-wheeler maker, Hero MotoCorp reported a 3 percent decline in domestic sales at 386,184 units in April as compared to 398,490 units in the same month a year ago.

The company's motorcycle sales in the domestic market dipped to 368,830 units last month as compared to 392,627 units in April 2022, mainly due to the rural slowdown.

The company expects momentum to build up in the coming months on account of a combination of multiple factors, including a slew of new product launches, healthy growth in the country's GDP, and positive consumer sentiments.

Meanwhile, scooter sales jumped to 27,277 units in April 2023 as against 25,995 units in the corresponding month a year ago.

The company's exports, however, crashed to 9,923 units last month as compared to 20,132 units in April 2022, mainly due to a devaluation of currencies especially in Africa and other developing countries.

Hero MotoCorp's total wholesales also declined to 396,107 units during the month under review, as compared to 418,622 units in April 2022, down 5 percent.