Hero MotoCorp had the Splendor as its best-selling model in domestic markets while it was HF Deluxe that attracted most attention globally
Hero MotoCorp has been seeing lackluster sales over the past few months. While the company posted YoY and MoM de-growth in March 2023, sales in the past month continued to be in the red on a YoY basis, both in domestic and export markets. Domestic sales stood at 23,86,173 units in April 2023, a 3.08 percent YoY de-growth from 3,98,464 units sold in April 2022. This was a 12,291 unit dip in volume.
Total sales (domestic + exports) in April 2023 stood at 3,96,096 units, down from 4,18,595 units sold in April 2022. It was also a significant de-growth in MoM sales which had stood at 5,19,342 units in March 2023. However, the company has extensive plans ahead.
Hero MotoCorp Sales Breakup April 2023
Hero Splendor topped the sales list with 2,65,225 units sold last month and was the only model in the company portfolio to post positive sales. This was a 13.30 percent YoY growth from 2,34,085 units sold in April 2022 relating to a 31,140 unit volume growth while the Splendor commands a 68.68 percent share on this list. Hero Splendor was the best-selling motorcycle in April 2023 commanding a 36.30 percent share.
At No. 2 was HF Deluxe with 78,700 units sold last month, down 21.77 percent from 1,00,601 units sold in April 2022. Hero HF Deluxe faces the recently launched Honda Shine 100 in its segment which could have resulted in lower sales.
Sales of Hero Glamour also fell 42.09 percent YoY to 12,042 units from 20,796 units sold in April 2022. The new Xoom scooter added 11,938 units to company sales in the past month. However, sales of Destini dipped 32.76 percent to 6,039 units in April 2023 from 8,981 units sold in April 2022. YoY sales de-growth was also seen in the case of Hero Pleasure which fell by 52.65 percent to 5,826 units in the past month from 12,303 units sold in April 2022.
Sales list also included Hero Passion (3,620 units), Maestro (1,221 units), Xtreme 160/200 (626 units) and Xpulse 200 (576 units) along with the Vida of which 360 units were sold last month. Each of these models have posted YoY de-growth. The Vida electric scooter has recently undergone a price cut following which Vida V1 Plus is priced at Rs 1,19,900 whereas Vida V1 Pro carries a price tag of Rs 1,39,900. These prices include FAME II subsidy and portable charger.
Hero MotoCorp Exports April 2023
Exports of Hero MotoCorp also fell YoY by 50.71 percent to 9,923 units in April 2023 from 20,131 units exported in April 2022. All but the Hero Maestro has seen a YoY dip in demand. It was HF Deluxe that commanded most attention in global markets despite a 29.85 percent YoY fall in exports. In total, there were 3,958 units of HF Deluxe shipped last month, down from 5,642 units shipped in April 2022. Hero HF Deluxe currently commands a 39.89 percent share.
Maestro exports increased by 239.68 percent YoY to 1,892 units in April 2023 from just 557 units shipped in April 2022. Hero Hunk was at No. 3 on the export list with 1,501 units shipped last month, down 66.61 percent from 4,495 units shipped in April 2022. It was followed by the Splendor with a 66.46 percent YoY de-growth to 1,420 units while Glamour exports also fell by 77.20 percent to 648 units in the past month. Hero Xpulse 200 also posted a YoY de-growth of 78.70 percent in April 2023 from 2,361 units sold in April 2022 while there was just 1 unit of the Xoom scooter shipped last month.
