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Hero MotoCorp Sales Report for May 2023 Reporting a 7% YoY Growth

CalenderPublished at June 8, 2023 by BikeJunction
Hero MotoCorp Sales Report for May 2023 Reporting a 7% YoY Growth

Hero MotoCorp has exciting plans to refresh and expand its product lineup by launching 5 new motorcycles & scooters in the coming months. Among its existing models, the Hero Splendor has been a standout performer, surpassing every other motorcycle on the top 10 list with an exceptional 3,255,744 units sold in FY 2023. Additionally, the company introduced the OBD-II and E20-compliant XPulse 200 4V in May 2023, adding to its diverse portfolio.

The impressive YoY growth and strategic product expansion indicate Hero MotoCorp's strong position in the market and its commitment to meeting the evolving needs of consumers. With a focus on domestic sales and a pipeline of innovative offerings, the company is well-positioned to capitalise on favourable market conditions and continue its growth trajectory in the motorcycle industry.

Hero MotoCorp Sales May 2023

In May 2023, Hero MotoCorp achieved a total sales figure of 519,474 units, encompassing both domestic and export sales. This marked a significant year-on-year (YoY) growth of 7% compared to the 486,704 units sold in May 2022. On a year-to-date (YTD) basis, the company's total sales reached 915,581 units, surpassing the 905,326 units sold in the same period of last fiscal year.

Specifically focusing on motorcycle sales, Hero MotoCorp recorded 489,336 units sold in the past month, indicating a notable increase from the 452,246 units sold in May 2022. This translates to volume growth of 37,090 units. Moreover, during the April-May 2023 period, the company sold 858,166 motorcycles, surpassing the 844,873 units sold in the corresponding period of April-May 2022.

These sales figures reflect Hero MotoCorp's continued growth and market success, driven by its strong performance in the motorcycle segment. With consistently increasing sales and a positive YoY growth rate, the company remains well-positioned in the industry and shows promising prospects for future success.

Hero MotoCorp Sales

May 2023

May 2022

Difference

Growth % YoY

% Share May 2023

Motorcycles

4,89,336

4,52,246

37,090

8.20

94.20

Scooters

30,138

34,458

-4,320

-12.54

5.80

Domestic

5,08,309

4,66,466

41,843

8.97

97.85

Exports

11,165

20,238

-9,073

-44.83

2.15

Total

5,19,474

4,86,704

32,770

6.73

100.00

 

Hero MotoCorp Sales

May 2023

April 2023

Difference

Growth % MoM

% Share April 2023

Motorcycles

4,89,336

3,68,830

1,20,506

32.67

93.11

Scooters

30,138

27,277

2,861

10.49

6.89

Domestic

5,08,309

3,86,184

1,22,125

31.62

97.89

Exports

11,165

9,923

1,242

12.52

2.51

Total

5,19,474

3,96,107

1,23,367

31.14

100.00

 

Hero MotoCorp Sales

FY 24 YTD

FY23

Difference

Growth % YoY

% Share FY 2024

Motorcycles

8,58,166

8,44,873

13,293

1.57

93.73

Scooters

57,415

60,453

-3,038

-5.03

6.27

Domestic

8,94,493

8,64,956

29,537

3.41

97.70

Exports

21,088

40,370

-19,282

-47.76

2.30

Total

9,15,581

9,05,326

10,255

1.13

100.00

 

In May 2023, scooter sales for Hero MotoCorp amounted to 30,138 units, representing a year-on-year (YoY) de-growth compared to the 34,458 units sold in May 2022. On a year-to-date (YTD) basis, scooter sales also declined to 57,415 units in FY 2023, down from the 60,453 units sold in the corresponding period of 2022. 

However, the relatively new Hero Xoom scooter, which ranked fifth on the top 10 scooter list in April 2023, contributed positively to the overall scooter sales.

The company's total domestic sales, combining motorcycles and scooters, reached 508,309 units in May 2023, showing growth from the 466,466 units sold in May 2022. On a YTD basis, the company reported sales of 894,493 units during April-May 2023, compared to the 864,956 units sold in the same period of April-May 2022.

In terms of exports, Hero MotoCorp experienced a YoY de-growth in May 2023, with exports declining to 11,165 units from the 20,238 units sold in May 2022, resulting in a volume de-growth of 9,073 units. YTD exports also declined to 21,088 units from the 40,370 units sold in the April-May 2022 period.

While scooter sales faced a de-growth and exports declined, Hero MotoCorp's overall domestic sales displayed a positive trend with notable growth. The company will likely focus on addressing the challenges in the scooter segment and implementing strategies to regain momentum in exports moving forward.

Hero MotoCorp's Upcoming Launches

Hero MotoCorp has exciting plans for its upcoming launches, including the introduction of the new Hero Karizma 210cc and an updated version of the Xtreme 160R. The company also has plans for refreshed models of the Hero Passion Pro and new models of the Glamour. Additionally, a scooter in the 125cc segment is set to join their lineup. 

However, the most eagerly anticipated model is the collaborative effort between Hero MotoCorp and Harley Davidson – the X440 Roadster. Bookings for this model have just opened, with a down payment of Rs 25,000, in anticipation of its launch in July 2023. Customers are eagerly awaiting the arrival of this highly anticipated motorcycle.

But before you go, don’t forget to check out the latest coverage on the 2023 Hero Xtreme 160R set to launch on 14 June in India!

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