Hero MotoCorp June dispatches dip 2.3% as domestic sales soften, exports grow

Hero MotoCorp on Wednesday reported a 2.3% year-on-year decline in total wholesale dispatches to dealers at 5,41,159 units in June, weighed down by weaker domestic sales despite a sharp rise in exports.

The country's largest two-wheeler maker sold 5,02,890 units in the domestic market during the month, down from 5,25,136 units in June last year, according to a regulatory filing.

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Exports, however, climbed to 38,269 units, compared with 28,827 units in the corresponding month a year ago.

Motorcycle dispatches declined to 4,78,701 units in June from 5,12,658 units a year earlier, while scooter sales registered strong growth, rising to 62,458 units from 41,305 units in the same period last year.

The company said VIDA, its emerging mobility business unit, continued to gain traction, recording 21,812 VAHAN registrations in June, marking a 185% year-on-year increase in retail registrations.

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Despite the softer monthly performance, Hero MotoCorp posted a strong start to the financial year, with first-quarter dispatches rising 23% year-on-year to 16.8 lakh units, compared with 13.67 lakh units in the same period of the previous fiscal.

The company attributed the quarterly growth to broad-based demand across its core motorcycle, premium and scooter portfolios, spanning both internal combustion engine (ICE) and electric vehicle (EV) models.