Compared to March 2021, the world’s largest two-wheeler producer’s total gross sales declined by 22 per cent, when it had bought 5,76,957 items.
View PhotosHero MotoCorp is India’s largest two-wheeler producer
Hero MotoCorp has reported gross sales of 4,50,154 items in March 2022, reporting a sequential progress of 25 per cent over the amount gross sales in February 2022, when the corporate despatched 3,58,254 items of bikes and scooters. However, in comparison with March 2021, Hero MotoCorp registered a year-on-year decline of twenty-two per cent, when it had despatched 5,76,957 items. The firm mentioned in a press release that the month-on-month enhance in gross sales signifies a gradual restoration within the economic system and that the corporate expects gross sales momentum to construct up within the new monetary yr 2022-23.
Also Read: Hero MotoCorp Despatches 5.77 Lakh Units In March 2021
In FY 2022, the auto trade witnessed important disruptions triggered by the second and third wave of the Coronavirus pandemic, limiting buyer motion, the corporate famous. In the fiscal yr 2021-22 (April 2021 – March 2022), Hero MotoCorp bought 49,44,150 items of two-wheelers, nonetheless a 15 per cent decline over FY 2020-21, when the corporate had despatched 57,91,539 items in the identical interval.
Also Read: IT Department Alleges ₹ 800 Crore Siphoned By Hero MotoCorp
Hero MotoCorp despatched 4,25,721 bikes in March 2022
In the bike section, Hero MotoCorp despatched 4,25,721 two-wheelers in March 2022, in comparison with 5,24,608 items in March 2021, recording a decline of 19 per cent. Scooter section gross sales additionally fell sharply by over 53 per cent, from 52,349 items in March 2021 to 24,433 items in March 2022. Overall home market gross sales accounted for 4,15,764 items in March 2022, in comparison with 5,44,340 items in March 2021. Exports nevertheless displayed a marginal enchancment with 34,390 items in March 2022, up 5 per cent from 34,390 items in March 2021.
Also Read: Hero MotoCorp To Hike Prices By ₹ 2,000 From April 5, 2022
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In March 2022, Hero MotoCorp confronted one other problem. Officials of the Income Tax Department raided the corporate’s workplaces in addition to residences of Hero MotoCorp’s senior officers. The raids launched on March 23 revealed alleged unlawful enterprise bills of over ₹ 800 crore, ₹ 60 crore unaccounted money used to buy land in Delhi and position of some shell firms. A contemporary response from the corporate on the most recent IT Department press assertion is awaited. The firm’s inventory worth took a beating on the markets, with shares of Hero MotoCorp tumbling greater than 6 per cent on April 1, 2022.
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With inputs from NDTV
