Hero MotoCorp suffered a de-growth in domestic sales by 23.62 percent while exports increased 5.44 percent on a YoY basis
Hero MotoCorp, the world’s largest two wheeler manufacturer saw its domestic sales dip in the past month. Every model in the company lineup suffered a de-growth except for the Xpulse 200. Total domestic sales in the past month stood at 4,15,726 units, down 23.62 percent from 5,44,320 units sold in March 2021. MoM sales performed better relating to a 25.44 percent growth over 3,31,421 units sold in February 2022.
Hero Domestic Sales Breakup March 2022
Hero Splendor was the best selling model in the company lineup in the past month. Sales stood at 2,48,577 units, down 11.25 percent over 2,80,090 units sold in March 2021. The Splendor commands a 59.79 percent share up from 58.45 percent held in February 2022 when sales stood at 1,93,731 units. Hero Splendor was also the best selling motorcycle in India in FY2022 with sales of 26,65,386 units, up 8.30 percent over 24,61,172 units sold in FY 2021.
Hero HF Deluxe sales at No.2 saw a 30.65 percent YoY de-growth to 1,00,216 units down from 1,44,505 units sold in March 2021. It was a MoM growth of 31.99 percent as against 75,927 units sold in February 2022 with share percentage increasing from 22.91 percent to 24.11 percent during the said months. These were the only two bikes in the company lineup to post sales above the 1 lakh unit mark.
Next in line was the Glamour with 4.12 percent YoY de-growth to 31,037 units, down from 32,371 units sold in March 2021. MoM sales improved 13.25 percent over 27,406 units sold in February 2021. Domestic sales of Pleasure (15,498 units), Passion (6,751 units) and Maestro (4,938 units) also suffered a YoY de-growth while MoM sales improved for all except the Passion that also took a 6.18 percent dip in MoM sales from 7,196 units sold in February 2022.
Hero XPulse domestic sales increased 83.62 percent to 4,563 units in the past month, up from 2,485 units sold in March 2021 while MoM sales improved 6.86 percent from 4,270 units sold in February 2022. Destini 125 (2,825 units) and Xtreme 160R (1,321 units) also saw a YoY dip in demand.
Hero MotoCorp has also announced a hike in prices of its scooter range from April 2022. The company currently offers 4 scooters – Pleasure Plus, Maestro Edge 110, Maestro Edge 125 and Destini 125 and prices have been increased by Rs 2,000 depending on variant. Hero has not increased prices of the Xtec lineup of Destini 125 as the scooter was has only been recently launched.
Hero Exports – Hunk, Splendor, HF Deluxe
Total exports in the past month stood at 34,390 units, up 5.44 percent over 32,617 units sold in March 2021. MoM exports improved 28.36 percent from 26,792 units shipped in February 2022. Hero Hunk was most in demand in global markets. Exports increased 317.14 percent YoY to 11,267 units, up from 2,701 units sold in March 2021. Currently holding a 32.76 percent share, MoM exports increased 19.13 percent from 9,458 units sold in February 2022.
Hero Splendor also posted a YoY and MoM surge in exports to 8,913 units while HF Deluxe suffered a YoY dip by 16.73 percent to 7,570 units, down from 9,091 units sold in March 2021. MoM shipments increased 38.80 percent from 5,454 units sold in February 2022.
Hero Glamour saw YoY and MoM increase in exports to 3,272 units while Xpluse 200 exports dipped 41.64 percent to 1,386 units. MoM exports of the XPulse 200 surged 3365 percent from just 40 units shipped in February 2022. The export list also included Hero Passion (810 units), Maestro (724 units), Destini 125 (328 units) and Pleasure (120 units).