Hero MotoCorp has registered a 7 percent YoY growth in May 2023 to 5,19,474 units. The company has seen outstanding growth in domestic sales, while exports have dipped. Factors conducive to the company’s growth in India are on account of improved buyer sentiments, predictions of normal rainfall and a host of new launches.
Hero MotoCorp is also set to refresh and expand the company’s product lineup with five new motorcycles and scooters over the next couple of months. It was the Hero Splendor that has done exceedingly well, bringing in rich rewards for the company, scaling over every other motorcycle on the top 10 list with 32,55,744 units sold in FY 2023. The company also introduced the OBD-II and E20 compliant XPulse 200 4V in May 2023.
Hero MotoCorp has reported total sales (domestic + exports) of 519,474 units in May 2023. This was a YoY growth of 7 percent over 486,704 units sold in May 2022. On a YTD basis, the company has reported total sales of 9,15,581 units as against 9,05,326 units sold in YRD FY2022.
Motorcycle sales stood at 4,89,336 units in the past month, up from 4,52,246 units sold in May 2022 thus relating to a 37,090 unit volume growth. During the period April-May 2023, the company sold 8,58,166 motorcycles as against 8,44,873 units sold in the April-May 2022 period.
Scooter sales stood at 30,138 units, a YoY de-growth as against 34,458 units sold in May 2022. Sales of scooters on a YTD basis also fell to 57,415 units in the FY 2023 period as against 60,453 units sold in the corresponding period of 2022. The relatively new Hero Xoom scooter, which featured at No. 5 on the top 10 scooter list in April 2023, has added good number to total scooter sales.
Total domestic sales (motorcycles + scooters) of the company thus stood at 5,08,309 units in May 2023, up from 4,66,466 units sold in May 2022. Growth was also seen on a YTD basis at 8,94,493 units sold during April-May 2023 as against 8,64,956 units sold in April-May 2022.
In May 2023, Hero MotoCorp reported a YoY de-growth in terms of exports which fell to 11,165 units in May 2023 from 20,238 units sold in May 2022. This was a 9,073 unit volume de-growth. YTD exports slipped to 21,088 units from 40,370 units sold in April-May 2022 period.
Hero MotoCorp plans to introduce the new Hero Karizma 210cc along with an updated version of the Xtreme 160R. Refreshed models of the Hero Passion Pro along with new Glamour models are also in the pipeline while a scooter in the 125cc segment is also a part of its upcoming launches. However, the most anticipated model is that being produced jointly by Hero MotoCorp and Harley Davidson – X440 Roadster has just been opened for bookings at a down payment of Rs 25,000 ahead of a July 2023 launch.