/ Hero MotoCorp Achieves Highest Ever Sales In Any Calendar Year Despite Demonetisation ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 4 January 2017

One of the world’s largest two-wheeler manufacturers, Hero MotoCorp has posted its year-end sales data on Tuesday, and has reported highest ever sales in any calendar year so far. Company has sold 67,62,980 units of two-wheelers during CY2016, reporting a growth of 4.3% over CY2015 (64,86,103 units).  Cumulative sales for the first nine months of FY2017 have increased to 50,24,129 units.

However, on a monthly basis the company could sell only 3,30,202 units in December 2016 as against 4,99,665 units in the corresponding month of  the previous year. The drop-in sales was on account of temporary shutdown of manufacturing facilities at Gurgaon, Neemrana and Haridwar in the last week of December 2016, as also due to the aftereffects of demonetisation.

The same has been reflected in the stock price of Hero MotoCorp. The stock has seen a retreat of nearly 10% in the price since December 9 and there are no signs of recovery in the near term.

The entire Auto sector has been affected by demonetisation, and there is a  drop in companies’ sales, whereby the index has tumbled nearly 14% to a low of 8659 levels, but has recovered by 7.8% to 9340 levels.
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