The world’s largest two wheeler maker, Hero MotoCorp opened the new fiscal with remarkable YoY and MoM improvement in sales. YoY sales saw both domestic and exports surge by significant numbers. However, on a MoM basis, domestic sales were up while exports suffered a deep decline. Growing demand boosted by timely supplies held the company in good stead.
Hero MotoCorp experienced more demand for its motorcycle lineup, which commanded a 93.06% share. The company experienced sales of 4,96,542 units in April 2024, a 34.63% YoY growth over 3,68,830 units sold in April 2023. This was a volume growth of 1,27,712 units. Scooter sales on the other hand also saw a 35.80% growth from 27,277 units sold in April 2023 to 37,043 units in the past month to command a 6.94% share on this list.
Total domestic sales thus grew by 32.91% to 5,13,296 units in April 2024 from 3,86,184 units sold in April 2023. Domestic sales command a 96.20% share while exports hold a 3.80% share on this list. Exports on the other hand saw more than a twofold improvement on a YoY basis by 104.46% to 20,289 units last month, up from 9,923 units sold in the same month last year.
Hero MotoCorp’ total sales (motorcycle + scooter) (domestic + exports) thus grew to 5,33,585 units in April 2024. This was a 34.71% YoY growth from 3,96,107 units sold in April 2023 relating to a 1,37,478 unit volume growth.
Growth was specifically seen in the case of the company’s 125cc and 400+cc bikes with the Xtreme 125R garnering the most attention to the extent that the company plans to boost supplies to as to allow for more timely deliveries. Models such as the Splendor, Glamour and Passion also commanded a great deal of attention.
The company also commenced deliveries of the new Mavrick 440 in April 2024. Hero Mavrick 440 was launched in India in February 2024. It is presented in three variants and priced between Rs. 1.99 – Rs. 2.24 lakh (ex-showroom).
Hero MotoCorp also reported an 8.80% MoM growth in sales in April 2024. Total sales (motorcycle + scooter) (domestic + exports) grew from 4,90,415 units sold in March 2024 relating to a 43,170 unit volume growth.
There were 4,96,542 units of motorcycles sold last month, an 8.72% MoM growth from 4,56,724 units sold in March 2024. Scooter sales also improved by 9.95% from 33,691 units sold in March 2024 taking total domestic sales up 11.77% from 4,59,257 units sold in March 2024.
Even as the company continued its expansion across global markets, exports suffered a 34.88% decline as there had been 31,158 units shipped in March 2024 dipping to 20,289 units in the past month.