Hero MotoCorp posted a YoY de-growth in sales in Jan 2023 while YTD sales ended more positively
Hero MotoCorp, the largest two wheeler maker in the world, has seen a dip in demand in January 2023. The company has introduced the new Xoom 110cc scooter which could stir up sales in the months ahead as it will offer some competition to the Honda Activa, Suzuki Access, TVS Jupiter, TVS Ntorq and Honda Dio.
Total sales of both motorcycles and scooters stood at 3,56,690 units in Jan 2023 down 6.25 percent from 3,80,476 units sold in Jan 2022. This de-growth was seen across motorcycle sales.
Hero MotoCorp Sales Jan 2023
Motorcycle sales, which command a 93.54 percent share which had stood at 3,57,845 units in Jan 2022 dipped 6.76 percent to 3,33,638 units in the past month. In the motorcycle segment, it was the Splendor, Passion, HF Deluxe which helped push most sales.
Scooter sales on the other hand improved marginally by 1.86 percent to 23,052 units in Jan 2023 from 22,631 units sold in Jan 2022. Top selling Hero MotoCorp scooters include Destini, Maestro, Pleasure, etc.
Domestic sales dipped 2.57 percent to 3,49,437 units in the past month, down from 3,58,660 units sold in Jan 2022. Exports also suffered a 66.75 percent or 14,563 units volume de-growth to 7,253 units from 21,816 units shipped in Jan 2022. MoM sales saw de-growth across motorcycle (-6.48 percent) and scooter (-38.41 percent) sales and where domestic (-6.37 percent) and exports (-43.40 percent) were concerned.
Hero MotoCorp Sales YTD
Hero MotoCorp saw better results where year-to-date (YTD) sales were concerned. During the April-Jan 2023 period, motorcycle sales were at 41,01,406 units, up 6.16 percent from 38,63,590 units sold in YTD FY 2022. Motorcycles commanded a 92.90 percent share. Scooter sales also increased significantly by 15.13 percent to 3,13,338 units in the FY 2023 period, up from 2,72,152 units sold in the same period of the previous year.
This took total sales up 6.75 percent to 44,14,744 units in FY 2023 up from 41,35,742 units sold in YTD FY 2022 relating to a volume growth of 2,79,002 units. Growth was seen in the case of domestic sales to 42,70,746 units from 38,96,300 units while exports YTD FY 2023 dipped to 1,43,998 units from 2,39,442 units shipped in YTD FY 2022 period.
Hero Xoom 110 scooter
Getting back to the new Xoom launched by Hero MotoCorp in January 2023, this scooter targets younger buyers in the country. The new Xoom 110 cc scooter is offered in three variants – LX, VX, ZX priced from Rs. 68.599 to Rs. 76,699. It is available in colour options depending on variants with LX offered in Polestar Blue, VX in Polestar Blue, Black, and Pearl Silver White and top of the line ZX in Polestar Blue, Black, Matte Abrax Orange and Sports Red.
Hero Xoom 110 boasts of several industry first features among which are Intelligent Cornering Light and bigger and wider tyres. Hi-tech features also include an X shaped LED headlamp, handlebar cowl, compact windscreen and an integrated braking system. The new Xoom scooter also receives a fully digital console with Bluetooth, front disc brakes, start/stop function and a USB charging port.
Borrowing its engine lineup from the Hero Pleasure and Maestro Edge 110cc scooters, Xoom is powered by a 110.9cc air cooled, 4 stroke engine that offers 8 hp power at 7,250 rpm and 8.7 Nm torque at 5,750 rpm. Suspension is via telescopic forks at front and swing-arm at the rear while braking is as per variant. The LX and VX variants get 130mm drum units at the front and rear while ZX sports 190mm front disc along with a 130mm rear drum.