Hero MotoCorp January 2023 Sales Report Accounts YoY Fall in Sales

Hero MotoCorp, the world's largest two-wheeler manufacturer, has experienced a drop in demand in January 2023. As competition for the Honda Activa, Suzuki Access, TVS Jupiter, TVS Ntorq, and Honda Dio, the company has unveiled the new Xoom 110cc scooter, which may boost sales in the months to come.

Hero MotoCorp recorded a total sale of motorcycle and scooters in January 2023 to be 3,56,690 units. Witnessing a 6.25% decrease from the 3,80,476 units sold in January 2022. The Splendor, Passion, and HF Deluxe were the motorbike models that contributed to the majority of sales.

As opposed to this, sales of scooters increased slightly by 1.86% to 23,052 units in January 2023 from 22,631 units in January 2022. The Destini, Maestro, Pleasure, and other popular Hero MotoCorp scooters are listed here.

Hero MotoCorp January 2023 Sales Report- YoY

Hero MotoCorp January 2023 Sales Report- MoM

Domestic sales decreased 2.57% this month to 3,49,437 units, from 3,58,660 units sold in January 2022. Additionally, exports experienced a volume decline of 66.75%, or 14,563 units, to 7,253 units from 21,816 units sent in January 2022. Motorcycle (-6.48%) and scooter (-38.41%) sales as well as domestic (-6.37%) and export (-43.40%) sales all experienced deceleration in MoM.

Hero MotoCorp January 2023 Sales Report: YTD

Hero MotoCorp achieved superior performance in terms of YTD sales. Motorcycle sales increased by 6.16% from the YTD FY 2022 period of 38,63,590 units sold to 41,01,406 units between April and January 2023. A 92.90% share was commanded by motorcycles. In the FY 2023 period, sales of scooters climbed significantly by 15.13% to 3,13,338 units, up from 2,72,152 units sold in the same time the year before.

This resulted in an increase in volume of 2,79,002 units, bringing total sales up 6.75% to 44,14,744 units in FY 2023 from the 41,35,742 units sold in the YTD FY 2022. Domestic sales increased to 42,70,746 units from 38,96,300 units while exports decreased to 1,43,998 units from 2,39,442 units delivered in the same period of time in FY 2022.

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