Hero MotoCorp started off the new financial year 2022-23 on a positive note reporting a 12.4 percent increase in YoY sales
Hero MotoCorp has reported a 12.45 percent increase in sales in April 2022 starting off the new financial year FY 22-23 on a positive note. The company owes this increase to the opening up of the economy and increased government policy support, both of which have combined to relate to a more positive impact on consumer sentiments.
Hero MotoCorp Sales April 2022
Hero MotoCorp sales (domestic and exports) increased 12.45 percent to 4,18,622 units, up from 3,72,285 units sold in April 2021. This was a volume growth of 46,337 units. MoM sales dipped 7 percent from 4,50,154 units sold in March 2022, leading to a 31,532 unit volume de-growth. This growth was primarily seen due to increased demand for its motorcycle range while scooter sales dipped YoY.
Motorcycle sales increased 15.71 percent to 3,92,627 units, up from 3,39,329 units sold in April 2021 leading to volume growth of 53,298 units and a 93.79 percent share. Motorcycle sales on a MoM basis saw a 7.77 percent de-growth over 4,25,721 units sold in March 2022.
Scooter sales dipped on YoY basis while MoM sales increased. It was a 21.12 percent YoY de-growth to 25,995 units in April 2022, from 32,956 units sold in April 2021 with a 6,961 unit volume de-growth and 6.21 percent share. MoM sales increased 6.39 percent from 24,433 units sold in March 2022.
Total domestic sales were up 16.31 percent YoY to 3,98,490 units from 3,42,614 units sold in April 2021 commanding a 95.19 percent share. MoM sales however, dipped 4.15 percent from 4,15,764 units sold in March 2022. Contributing domestic sales charts were Hero Splendor, HF Deluxe, Glamour, Pleasure, Maestro, Passion, Destini, Xpulse 200, Xtreme 160R, etc.
Taking into account top 10 motorcycle sales in FY 2022, the Hero Splendor led the list with sales of 26,65,386 units. This was an increase of 8.30 percent over 24,61,172 units sold in the same period of the previous year leading to a 2,04,214 unit volume growth. Not only was Hero Splendor the best-selling motorcycle in FY 2022 but it was also the highest selling two wheeler, with sales surpassing that of Honda Activa by a substantial margin.
Hero MotoCorp Exports April 2022
Exports were in the red as sales dipped 32.15 percent to 20,132 units in April 2022 down 9,539 units over 29,671 units shipped in April 2021. Exports currently hold a 4.81 percent share down from 7.76 percent held in March 2022 when exports had stood at 34,930 units leading to a 42.36 percent MoM de-growth.
In related news, Hero MotoCorp has revised prices of its scooter range effective from April 2022. The company currently offers four scooters – Pleasure Plus, Maestro Edge 110, Maestro Edge 125 and Destini 125. Prices have been increased by Rs 2,000 depending on variant.
In April 2022, Hero MotoCorp strengthened their scooter portfolio and introduced the new Hero Destini 125 XTEC variant in India. It is priced at Rs 79,990 and gets powered via a 125cc BS-VI compliant engine producing 9 hp power at 7,000 rpm and torque of 10.4 Nm at 5,500rpm.
