The company expects sales in the coming months to increase significantly thanks to new product launches, healthy GDP growth in India as well as more positive consumer sentiments
Hero MotoCorp has opened the first month of the new financial year having suffered a YoY and MoM decline in sales. The company ended FY 2022-23 on a positive note with sales at 53,28,546 units in the April-March 2023 period which related to an 8 percent growth as against 49,44,150 units sold in FY 2021-22.
Hero MotoCorp total sales dipped by 5.38 percent to 3,96,107 units in April 2023. This was as against 4,18,622 units sold in April 2022. MoM sales also fell by 23.73 percent from 5,19,342 units sold in March 2023.
Hero MotoCorp Sales April 2023
Hero MotoCorp has recorded a de-growth in terms of motorcycle sales in the past month. Sales fell to 3,68,830 units in April 2023, down 6.06 percent YoY from 3,92,627 units sold in April 2022. This was a YoY volume decline of 23,797 units with motorcycles commanding a 93.11 percent share. MoM sales were also in the red by 24.09 percent from 4,85,896 units sold in March 2023 with a 1,17,066 unit volume decline.
Scooter sales on the other hand grew on a YoY basis by 4.93 percent to 27,277 units in April 2023 up from 25,995 units sold in April 2022. MoM sales however, fell by 18.44 percent from 33,446 units sold in March 2023. The recently launched Xoom 110cc scooter has been doing well in sales. It is available in three variants – LX, VX and ZX and priced from Rs 68,599-76,699 (ex-showroom).
Total domestic sales (motorcycles + scooters) were down by 3.09 percent YoY to 3,86,184 units in April 2023 from 3,98,490 units sold in April 2022. MoM sales also fell by 23.18 percent over 5,02,730 units sold in March 2023. Exports also suffered YoY and MoM decline by 50.71 percent and 40.27 percent respectively with only 9,923 units shipped in April 2023.
Hero MotoCorp in April 2023
During the past month, a custom built Harley-Davidson Road King was presented to a specially-abled employee, Chitra Zutshi. The bike was handed over at a ceremony held at Hero’s Global Centre for Innovation and Technology (CIT) in Jaipur. Chitra piloted the bike on a testing track under the supervision of an expert.
Hero MotoSports Team Rally also concluded a run at Sonora Rally 2023. The team was represented by Ross Branch and Sebastian Buhler in the first event held in North America, finishing at 7th and 10th positions respectively. The ongoing Indian Premier League (IPL) has VIDA as the official electric mobility brand partner of the Lucknow Super Giants.
