Hero MotoCorp has posted a YoY de-growth both in terms of domestic sales and exports in June 2023 while YTD sales also ended in the negative
Hero MotoCorp, a leader in the two wheeler segment, has ended the month of June 2023 in red. Their sales have fallen sharply both on YoY and MoM basis while YTD sales also ended in the negative.
The company has reported total sales (domestic + exports) at 4,36,993 units in June 2023, down 9.87 percent from 4,84,867 units sold in June 2022. This was a 47,874 unit volume de-growth. MoM sales also ended at a 15.88 percent de-growth down from 5,19,474 units sold in May 2023.
Hero MotoCorp Sales June 2023
In terms of domestic sales, while the company posted positive growth in scooter sales, motorcycle sales dipped 12.34 percent to 4,04,474 units in June 2023. This was a 12.34 percent YoY de-growth from 4,61,421 units sold in June 2022. MoM sales also fell by 17.34 percent from 4,89,336 units sold in May 2023.
Motorcycle share fell to 92.56 percent in June 2023 from 94.20 percent held in May 2023. Again taking into account motorcycle YTD sales in FY 2024, it was a 3.34 percent de-growth to 12,62,640 units, down 3.34 percent from 13,06,294 units sold in FY 2023.
Scooter sales on the other hand received more positive from buyers in India. Sales grew 38.70 percent YoY to 32,519 units in the past month, up from 23,446 units sold in June 2022. MoM sales improved by 7.90 percent from 30,138 units sold in May 2023 to currently command a 7.44 percent share. Scooter sales on a YTD basis has also seen a 7.19 percent growth to 89,934 units in the FY24 period from 83,899 units sold in the same period last year.
Total domestic sales (motorcycles + scooters) thus stood at 4,22,757 units in June 2023, down 8.73 percent compared to 4,63,210 units sold in June 2022. It was also a MoM de-growth of 16.83 percent as against 5,08,309 units sold in May 2023. YTD total domestic sales fell marginally by 0.82 percent to 13,17,250 units in FY24 period from 13,28,166 units sold in the FY23 period thus relating to a 10,916 unit volume de-growth.
Exports fell 34.27 percent YoY to 14,236 units in June 2023, down from 21,657 units shipped in June 2023 while there had been 11,165 units exported in May 2023 relating to a 27.51 percent MoM growth. Exports in FY24 fell sharply by 43.05 percent to 35,326 units from 62,027 units sold in FY23
New Products in Hero MotoCorp Portfolio
The automaker is now optimistic of its new premium motorcycle being brought out in association with Harley Davidson. The new Harley-Davidson X440 neo retro roadster is being launched in India on July 3, 2023. The company also unveiled the new Xtreme 160R 4V in June and it is offered in three variants of Standard, Connected 2.0 and Pro variant with Upside Down forks. Last month, a new range of 100cc HF Deluxe and Passion+ also marked their entry into the company portfolio.
