Hero MotoCorp made significant strides with over 46,662 units of VIDA V1 e-scooters sold in the calendar year 2024Hero MotoCorp shares slid 3.5% to an intraday low of INR 4,159.90 on the BSE after the company on Thursday reported a 17.5% year-on-year decline in total sales for December, with volumes falling to 3.24 lakh units compared to 3.93 lakh units in the same month last year.
The automaker sold 2.94 lakh units domestically in December, 22% lower than the 3.8 lakh units sold in the same period in 2023. However, exports soared by 91%, reaching 30,754 units, up from 12,110 units in the same period last year, according to the company's regulatory filing.
In December, the company sold 2.98 lakh motorcycles, 15.8% lower than the 3.55 lakh units sold in the same month last year. Scooter sales fell by 32.8%, totaling 26,390 units, compared to 39,294 units sold in the same month of the previous year.
Hero MotoCorp made significant strides with over 46,662 units of VIDA V1 e-scooters sold in the calendar year 2024. "As we look forward to Calendar Year 2025, we are poised for an exciting journey with key product launches, including the expansion of the EV portfolio, further strengthening of the premium portfolio, and new scooter models in the ICE segment," said Niranjan Gupta, CEO of Hero MotoCorp.
In December, the company deepened its partnership with Harley-Davidson, unveiling new trims of the Harley-Davidson X440 and planning to develop a new bike under their collaboration. Also Read: Credit growth set to fall, provisions costs to rise, says ICRA
Hero MotoCorp shares target price
According to Trendlyne, 23 out of 37 analysts recommend a 'buy or strong buy' on Hero MotoCorp shares, with seven suggesting a 'hold' and another seven advising a 'sell or strong sell.' The average 12-month target price is INR 5,307, indicating a potential upside of 23% from current levels.
Hero MotoCorp shares performance
On Thursday, Hero MotoCorp shares closed at INR 4,310, down 0.11% on the BSE, while the benchmark Sensex rallied 1.83%. The stock has declined 25% over the past three months but surged 58% in the last three years. The company’s market capitalisation stands at INR 86,210 crore.
