Hero Moto tanks over 5% as March sales plunge
Total motorcycle sales stood at 3,05,883 units last month as against 5,35,943 units in March 2019, down 42.9 per cent.
By ETMarkets.com | Updated:
PTI
NEW DELHI: Shares of Hero MotoCorp fell over 5 per cent in Friday's trade after the company on Wednesday reported a 42.4 per cent decline in total sales at 3,34,647 units in March.
The company had sold 5,81,279 units in the corresponding month of the previous year, Hero MotoCorp said in a statement.
"In March 2020, the auto industry and the entire global economy has been faced with unprecedented disruption, owing to the novel coronavirus. The COVID-19 has resulted in interrupted supply chains, halted production and lock-down, leading to no retails," the company said.
Total motorcycle sales stood at 3,05,883 units last month as against 5,35,943 units in March 2019, down 42.9 per cent.
Total scooter sales declined 36.55 per cent to 28,764 units as compared with 45,336 units in the year-ago month, it added.
In the domestic market, sales stood at 3,16,685 units last month as compared with 5,53,302 units in the same period a year ago, down 42.7 per cent.
Meanwhile, the two-wheeler major said it has elevated Naveen Chauhan as Head of Sales and After Sales, with immediate effect.
The shares of the company closed 3.39 per cent lower at Rs 1583.65 on BSE.
The company had sold 5,81,279 units in the corresponding month of the previous year, Hero MotoCorp said in a statement.
"In March 2020, the auto industry and the entire global economy has been faced with unprecedented disruption, owing to the novel coronavirus. The COVID-19 has resulted in interrupted supply chains, halted production and lock-down, leading to no retails," the company said.
Total motorcycle sales stood at 3,05,883 units last month as against 5,35,943 units in March 2019, down 42.9 per cent.
Total scooter sales declined 36.55 per cent to 28,764 units as compared with 45,336 units in the year-ago month, it added.
In the domestic market, sales stood at 3,16,685 units last month as compared with 5,53,302 units in the same period a year ago, down 42.7 per cent.
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Meanwhile, the two-wheeler major said it has elevated Naveen Chauhan as Head of Sales and After Sales, with immediate effect.
The shares of the company closed 3.39 per cent lower at Rs 1583.65 on BSE.
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