Hero MotoCorp February Sales Down 19%, Company Stops BS-IV Production
Hero MotoCorp February Sales Decline By 19%
Two-wheeler manufacturer Hero MotoCorp reported a 19 per cent decline in its sales in the month of February, on a year-on-year (YoY) basis, in a regulatory filing to the bourses on Monday. The company sold 4,98,242 units in February, as compared to 6,17,215 units in the same month last year.
Meanwhile, the auto major in February, stopped production of all BS-IV two-wheelers, the filing stated. Besides, it has also started the dispatches of BS-VI variants of its key products like Splendor+, Super Splendor, Glamour and Passion Pro motorcycles and Maestro Edge 125 and Destini 125 scooters.
As far as sales are concerned, total motorcycle sales stood at 4,79,310 units last month as against 5,58,884 units in February 2019, down 14.23 per cent. On the other hand, total scooter sales declined 67.54 per cent to 18,932 units as compared with 58,331 units in the year-ago period, the filing added.
In this fiscal year (2019-20) so far, the company has witnessed a 16.08 per cent decline in sales.
At Rs 2,021.35, the Hero MotoCorp stock was trading 2.40 per cent in the green on the BSE at 1 pm on Tuesday. Meanwhile, BSE Sensex was up 0.80 per cent in the afternoon trade while the Nifty Auto sub-index was gaining 0.70 per cent.