June 2023 Sales Report of Hero MotoCorp Reports a Major Decline YoY & MoM

Hero MotoCorp experienced a major dip in their sales number in the month of June. And even though the company has been a 2-wheeler industry leader, it has ended June all in red. Their sales numbers in all aspects, including YoY, MoM & YTD, all have ended up in the negatives. 

Hero MotoCorp reported a total sales, including domestic & exports at 4,36,993 units for the month of June 2023. This number took a major drop of 9.87%, with 4,84,867 units sold in June 2022. As for the MoM sales numbers, it also took a dip of 15.88% from 5,19,474 units last year. 

However, the company registered a positive growth in its scooter sales, but motorcycle sales took a dip of 12.34% from 4,04,474 units in June 2023. This marked a 12.34% YoY fall from 4,61,421 units in June 2022. MoM also took a major fall of 17.34%, with 4,89,336 units sold in May 2023.

The company’s motorcycle share in the market also saw a fall of 92.56% in June 2023, as compared to 94.20% marked in May 2023. Their YTD sales in FY 2024, a fall of 3.34% was registered with 12,36,640 units, which fell down from 13,06,294 units in FY 2023.

Scooter sales in India, on the other hand, received a more positive response from buyers. In the past month, sales grew by 38.70% YoY, reaching 32,519 units, compared to 23,446 units sold in June 2022. MoM sales also showed improvement, increasing by 7.90% from 30,138 units in May 2023 to currently hold a 7.44% market share. On a YTD basis, scooter sales experienced a growth of 7.19%, with 89,934 units sold in the FY24 period, compared to 83,899 units sold in the same period last year.

Total domestic sales, combining motorcycles and scooters, amounted to 422,757 units in June 2023, representing a decrease of 8.73% compared to the 463,210 units sold in June 2022. This also marked a MoM de-growth of 16.83% as opposed to the 508,309 units sold in May 2023. YTD total domestic sales saw a slight decline of 0.82%, totaling 1,317,250 units in the FY24 period, down from the 1,328,166 units sold in the FY23 period, resulting in a decrease of 10,916 units.

In terms of exports, there was a 34.27% YoY decrease in June 2023, with 14,236 units shipped, compared to 21,657 units in June 2022. However, there was a 27.51% MoM growth from 11,165 units exported in May 2023. Exports in the FY24 period experienced a significant decline of 43.05%, with 35,326 units sold, compared to 62,027 units in FY23.

But before you leave, don’t forget to check out the top 5 things to know about the recently launched BMW M 1000 RR in India.

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