Hero MotoCorp Shares Slide Over 3% After December Sales Plummet

 

Hero MotoCorp's stock fell by more than 3% in early trading on Friday, following the announcement of a significant drop in December sales. The share price decreased by as much as 3.5%, reaching ₹4,159.90 on the Bombay Stock Exchange (BSE).

 

The world's largest two-wheeler manufacturer reported a 17.5% decline in December sales, with 324,906 units sold compared to 393,952 units in the same month last year. Domestic sales were particularly impacted, dropping 22.1% to 294,152 units from 377,842 units. However, exports saw a remarkable increase of 90.9%, rising to 30,754 units from 16,110 units year-on-year.

 

Despite the downturn in December, Hero MotoCorp achieved a 7.5% growth in overall sales for 2024, with total vehicle sales reaching 5,911,065 units, up from 5,499,524 in 2023.

 

The breakdown of December sales showed motorcycle sales declining by 15.8% year-on-year to 298,516 units, while scooter sales fell even more sharply, down 32.8% to 26,390 units.

 

Looking ahead to 2025, CEO Niranjan Gupta expressed optimism about new product launches, including an expansion of the electric vehicle (EV) lineup and new models in the internal combustion engine (ICE) segment. He noted that improving customer sentiment could lead to stronger demand recovery.

 

In the EV sector, Hero MotoCorp sold over 46,662 units of its VIDA V1 e-scooter in 2024 and has established an extensive fast-charging network, featuring over 3,100 charging points across more than 250 cities in India, along with over 500 service locations.