Hero MotoCorp, HMSI report double-digit dip in sales in July

Hero MotoCorp, HMSI report double-digit dip in sales in July

New Delhi, Aug 2: Leading two-wheeler manufacturers Hero MotoCorp and Honda Motorcycle & Scooter India (HMSI) have reported a double-digit decline in sales last month, hit by lower offtake in a sluggish market.
The country’s largest two-wheeler maker Hero MotoCorp reported a 21.18 per cent dip in total sales at 5,35,810 units in July, as compared with 6,79,862 units in the year-ago period.
“The sluggish market environment prevalent in the first quarter has continued in the beginning of the second quarter as well and its impact is visible in the dispatch volumes,” Hero MotoCorp said in a statement.
The outlook for the rest of the year will be dependent on multiple factors, including the progress of monsoon and festive season offtake, as well as improvement in the liquidity situation, it added.
Similarly, HMSI reported 10.77 per cent decline in total sales last month at 4,89,631 units. It had sold 5,48,751 units in July 2018.
Niche bike maker Royal Enfield sold 54,185 units last month, down 22 per cent from 69,063 units in the year-ago period.
Its domestic sales in July declined 27 per cent at 49,182 units as against 67,001 in July 2018.
On Thursday, Bajaj Auto reported a dip of 13 per cent in domestic sales last month at 2,05,470 units as compared with 2,37,511 units a year ago.
Similarly, TVS Motor Company reported a 15.72 per cent decline in domestic two-wheeler sales at 2,08,489 units last month as against 2,47,382 units in the year-ago period.