Hero MotoCorp posted 15 percent YoY growth in sales in March 2023 and while domestic sales improved significantly, exports finished in the red
Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters has reported a 15 percent YoY growth in sales in March 2023. Sales stood at 5,19,342 units in March 2023, as against 4,50,154 units sold in March 2022.
Hero MotoCorp Surpasses 5.3 million (53 lakh) sales in FY 2023
Riding high on its increased sales streak, the company has also ended FY 2022-23 on a positive note. Sales stood at 53,28,546 units in the April-March 2023 period. This was an 8 percent growth over 49,44,150 units sold in FY 2021-22.MoM sales growth stood at 31.66 percent when compared to 3,94,460 unit sales total (domestic + exports) in Feb 2023.
Taking into account motorcycle and scooter sales separately, motorcycle sales stood at 4,85,896 units in March 2023, up from 4,25,721 units sold in March 2022. On a YTD FY23 basis, motorcycle sales were at 49,59,156 units up from 46,27,765 units sold in FY 2021-22.
Scooter sales also saw outstanding growth with 33,446 units sold in March 2023, up from 24,433 units sold in March 2022. YTD FY 23 sales were at 3,69,390 units from 3,16,385 units sold in YTD FY 22. In the scooter segment, it was the recently launched Xoom 110 cc scooter that added to sales.
Out of total sales of 5,19,342 units in March 2023, domestic sales stood at 5,02,730 units while 16,612 units were exported. This was as against 4,15,764 units sold in domestic markets in March 2022 and 34,390 units exported relating to a de-growth in terms of exports. YTD FT23 exports were also lower at 1,72,753 units from 3,00,624 units shipped in YTD FY 22.
Hero MotoCorp Achievements in FY 2023
Hero has also entered the electric two wheeler segment late last year with the Hero Vida V1 electric scooter launched at Rs 1.45 lakh and offering a range of 165 kms. Hero Xoom is offered in two variants LX and ZX priced at Rs 68,599 and Rs 76,699 respectively (ex-showroom).
Along with the launch of the new Xoom scooter and Vida V1 electric two wheeler, the company has also set up over 300 charging stations across 50 locations in cities of Delhi, Jaipur and Bengaluru. The company strengthened its portfolio with new and improved variants of the Splendor and Passion along with the Super Splendor XTEC along with XPulse 200T and XPulse 200 4V Rally Edition.
Launches in the past financial year also included the Canvas Black Edition for Super Splendor and Stealth 2.0 Edition for Xtreme 160R. Hero MotoCorp entered into an alliance with Zero Motorcycles of California, USA for a more premium range of motorcycles and higher performing engines. Hero MotoCorp in partnership with Terrafirma Motors Corporation, marked its entry into South East Asian and is set to launch its products in the Philippines.
