In what could be a sign of improving consumer sentiments, India’s largest two-wheeler manufacturer Hero MotoCorp has registered strong growth of 35.7% in Q1 of FY 2022-23. Total sales during April-June 2022 were at 13,90,193 units, as compared to 10,24,507 units in the corresponding period last year. Quarterly MoM growth has improved by 17%, as compared to 11.89 lakh units sold in January-March 2022.
Both motorcycles and scooters have registered positive YoY growth in Q1 FY 2022-23. Motorcycle sales were at 13,06,294 units, as compared to 9,59,589 units in the corresponding period last year. Scooter sales have improved from 64,918 to 83,899 units.
In June 2022, Hero MotoCorp registered sales of 4,84,867 units. This is positive YoY growth, as compared to 4,69,160 units sold in the corresponding period last year. The growth is on account of higher motorcycle sales. A total of 4,61,421 units were sold in June 2022, as compared to 4,41,536 units in June last year. Scooter sales have registered negative growth, down from 27,624 units in June last year to 23,446 units in June 2022.
While domestic sales have registered strong growth, Hero MotoCorp exports numbers are down in Q1 FY 2022-23. Exports are at 62,027 units, as compared to 83,800 units in the corresponding period last year. In June too, exports numbers were down from 30,646 units to 21,657 units. To boost overseas operations, Hero MotoCorp has launched Euro-5 compliant versions of XPulse 200 4V motorcycle and Dash 110 & Dash 125 scooters. These are available for sale in Turkiye.
In domestic market, the company launched the new Passion XTEC variant that packs in a range of updates. It includes features such as full digital instrument cluster, first in segment projector LED headlamp, real-time mileage indicator, service reminder, side stand indicator with engine cut off function, low fuel indicator, Bluetooth connectivity and SMS and call alerts. Earlier, the company had launched the Splendor XTEC variant with the same set of features.
Hero MotoCorp expects sales momentum to continue in coming months. It will be powered by the normal monsoon season (as predicted by the met department) and subsequent increase in farm activity and rural household income. Top selling Hero motorcycles and scooters continue to be Splendor, HF Deluxe, Passion, Glamour, Destini, Maestro, Xtreme, Xpulse, etc.
To promote the spirit of adventure and exploration, Hero MotoCorp recently launched XCLAN, a new community-riding platform. It is meant for Hero XPulse bike owners who may wish to engage with other riders for sharing their stories, ideas and experiences. In other initiatives, Hero MotoCorp launched EV Technology Expo in Jaipur in June. This was in collaboration with Automotive Component Manufacturers Association of India (ACMA).
As part of its Hero WeCare CSR program, the company donated 300 motorcycles as well as 600 helmets to Himalayan Eco Restoration, Biodiversity Conservation and Livelihood Enhancement Society in Rishikesh, Uttarakhand. 150 units of Hero Glamour FI 125 were also provided to Uttarakhand Police Department.