India’s largest two-wheeler maker Hero MotoCorp Ltd today reported a 4.1 percent on-year decline in its total sales during May. The decline, despite robust improvement in exports, can be attributed to weakness in the domestic market demand.
The automaker dispatched a total of 498,123 two-wheelers in May, against 519,474 two-wheelers in the year-ago period. Domestic sales fell 5.6 percent on year to 479,450 units, while exports jumped 67 percent to 18,673 units. Total motorcycle sales declined 3.7 percent on year to 471,186 units. Scooter sales totaled 26,937 units, up 10.6 percent.
“Hero MotoCorp registered a healthy growth in its export volumes during the month and continues to see increased demand for the VIDA V1 electric scooter. The company is gearing up for an energetic upcoming period with a slew of product launches and business expansions,” the company said in a press release.
The automaker is currently focusing more on premiumization of its product portfolio, customer touch-points and overall brand experience. The company is ramping up production of the Xtreme 125R, while it recently introduced a new premium variant of its entry-level 100cc Splendor - the Splendor+ XTEC 2.0.