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Hero MotoCorp reports 12% decline in July sales, domestic market hit by inclement weather
Hero MotoCorp's total sales declined by 12% in July due to bad weather and floods. Domestic sales decreased while exports increased.
Hero MotoCorp on Tuesday reported a 12 per cent decline in total sales at 3,91,310 units in July.
The company had sold 4,45,580 units in the year-ago period, Hero MotoCorp said in a statement.
Domestic sales were at 3,71,204 units as compared to 4,30,684 units in July 2022, it added.
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Exports, however, increased to 20,106 units from 14,896 units in the corresponding period of the last year.
The numbers are reflective of the inclement weather conditions in July, including unprecedented rains and floods in certain parts of the country, the company said.
The incessant rains and the floods caused crop damage in several states, and also resulted in sharp decline in customer footfalls at the dealerships, it added.
New product launches leading into the upcoming festive season, along with attractive finance schemes are expected to result in improvement in market demand in coming months, the company said.
