Hero MotoCorp Shares Slide 4.3% as October Sales Fall 6.4%; Exports Provide Partial Cushion

New Delhi, November 4, 2025: Hero MotoCorp Limited shares declined sharply on Tuesday after the company reported a 6.4% year-on-year drop in total sales for October 2025. As of 2:00 PM, the Hero MotoCorp share price was trading at ₹5,302.00, down 4.28% from the previous close. Despite supportive factors such as GST reforms, improved financial inclusion through direct tax measures, and the recently concluded festive season, the company’s sales numbers appeared underwhelming to investors.

However, the expansion in the European markets, and almost a 50% increase (year on year) in the scooters range, reaffirm the robust position of the company in the two-wheeler market.

Sales Performance (October 2025)

The company reported a 6.4% year-on-year decline in total two-wheeler sales, which fell to 6,35,808 units from 6,79,091 units in the same month last year. The motorcycle segment recorded the sharpest drop, falling 10.2% YoY to 5,70,753 units. Although scooter volumes surged 50.3%, the growth was insufficient to offset weaker domestic demand. On a positive note, exports rose 42.8% to 30,979 units, providing some cushion to the overall performance.

Festive Retail Momentum and Global Expansion

The company recorded close to 10 lakh VAHAN registrations during October 2025. The demand was quite strong across the flagship Splendor, Xpluse, Xoom and Destini models. The company also reported 6.35 lakh wholesales for the second consecutive month, indicating steady performance during the festive season. In addition, the company has successfully entered the European markets (Italy, Spain, the UK, and France) with its Euro 5+ compliant models. Hero Moto Corp now operates in 52 countries and 5 continents.

EV Division: VIDA Accelerates Festive Growth

The EV division also registered 16,000 new registrations on the VAHAN portal, which was more than 24% higher than the previous month. On a year-on-year basis, it was almost 100% more than in October 2024. The flagship EV from Hero (VIDA VX2 EVOOTER) is primarily responsible for the trend, as bookings were strong and consumer interest was consistent.

Market Reaction

As underlined before, the stock declined after the numbers were announced. At 02:00 PM, the shares traded at ₹5,302.00 (down by 4.28%). However, the stock has surged around 23% in the past three months, and the correction can indicate profit booking by investors at high levels. The company’s PE ratio is 21.94, slightly lower than the industrial average of 26.86.

REF: https://nsearchives.nseindia.com/corporate/HEROMOTO_03112025154105_StxintimationPR03112025.pdf

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