Hero MotoCorp sales increased both in terms of YoY and MoM and across domestic sales and exports in February 2023
Hero MotoCorp has reported a YoY growth of 10.11 percent in February 2023. Sales (domestic + exports) stood at 3,94,460 units in the past month, up from 3,58,254 units sold in Feb 2022. Even as the company reported a 15.34 percent growth in domestic sales to 3,82,317 units in Feb 2023 from 3,31,462 units sold in Feb 2022, exports dipped significantly. The company’s exports which had stood at 26,792 units in Feb 2022 fell 54.68 percent to 12,143 units in the past month.
Hero Motorcycle sales increased 9.87 percent in Feb 2023 to 3,71,854 units from 3,38,454 units sold in Feb 2022 while Scooter sales which had stood at 19,800 units in Feb 2022 improved by 14.17 percent to 22,606 units in the past month. Top selling motorcycles from Hero MotoCorp include Splendor, HF Deluxe, Passion, Xpulse, Xtreme, etc. In the scooter department, Hero has Maestro, Destini as well as the new Xoom and Vida electric scooter.
Hero MotoCorp Sales Feb 2023
On a MoM basis, Hero MotoCorp sales improved by 10.59 percent from 3,56,690 units sold in Jan 2023. Domestic sales were higher by 9.41 percent from 3,49,437 units, while exports surged 67.42 percent from 7,252 units shipped in Feb 2023. MoM sales improved in the case of motorcycles by 11.54 percent but dipped 1.93 percent for scooters.
Motorcycle sales in Jan 2023 had stood at 3,33,638 units relating to a 38,216 unit volume growth and 93.54 percent share. Scooter sales on the other hand had been at 23,052 units in Jan 2023 relating to a 446 unit MoM volume de-growth.
Hero MotoCorp YTD Sales
On a year to date basis, Hero MotoCorp sales improved by 7.01 percent. Total sales (domestic + exports) which had stood at 44,93,996 units in FY 2022 improved to 48,09,204 units in FY 2023 period. There was growth seen in the case of domestic sales by 10.06 percent to 46,53,063 units in FY 2023 from 42,27,762 units sold in FY 2022.
Exports on the other hand dipped 41.35 percent to 1,56,141 units in FY 2023 from 2,66,234 units shipped in FY 2022. This was a 1,10,093 unit volume de-growth with exports commanding a 3.25 percent share as against domestic share of 96.75 percent.
YTD growth was seen both in the case of motorcycles and scooters by 6.45 percent and 15.07 percent to 44,73,260 units and 3,35,944 units respectively. There had been 42,02,044 units sold in domestic markets in FY 2022 relating to a volume growth of 2,71,216 units and 93.01 percent share. Exports stood at 2,91,925 units in FY 2022 with a 43,992 unit volume growth and share percentage of 6.99.
New Hero Scooters Increase Sales
The new Xoom 110cc scooter has played a major part in sales in the past month. The Xoom that rivals the Honda Dio in its segment is presented in three variants and is available from Rs 68,599 onwards.
Hero MotoCorp has commenced sales of its electric scooter under Vida brand in cities of Delhi, Bengaluru and Jaipur. Plans are afoot to introduce the e-scooter in other cities as well in the next fiscal. Hero MotoCorp VIDA V1 electric scooter is offered in two variants Pro and Plus.