Sales Report February 2023: Hero MotoCorp Sales Experiences 10.11% Growth YoY

Published at March 3, 2023 by BikeJunction

Sales Report February 2023: Hero MotoCorp Sales Experiences 10.11% Growth YoY

Hero MotoCorp has recently released a YoY growth of 10.11% for the month of February 2023. Total Sales, including domestic and exports, stood at 3,94,460 units in Feb 2023, increasing from 3,58,254 units sold in Feb 2022, accounting for a 15.34% growth. However, numbers did not look so good for company exports, dipping down to 54.68% as it exported 12,143 units in Feb 2023 as opposed to 26,792 units in Feb 2022.

Hero MotoCorp	Feb 2023	Feb 2022	Difference	Growth % YoY	% Share Feb 2023
Motorcycles	3,71,854	3,38,454	33,400	9.87	94.27
Scooters	22,606	19,800	2,806	14.17	5.73
Domestic	3,82,317	3,31,462	50,855	15.34	96.92
Exports	12,143	26,792	-14,649	-54.68	3.08
Total	3,94,460	3,58,254	36,206	10.11	100.00

Hero bikes saw a rise of 9.87% in Feb 2023, with 3,71,854 units sold as opposed to 3,38,454 units sold in Feb 2022. Hero Scooters also saw a 14.17% increase, with 22,606 units sold as compared to 19,800 units sold in Feb 2022.

Highest-selling motorcycles by Hero MotoCorp were:

Splendor,
HF Deluxe,
Passion,
Xpulse,
Xtreme, etc.

Highest-selling scooters by Hero MotoCorp included

Maestro,
Destini
Xoom,
Vida electric scooters

Hero MotoCorp Sales Feb 2023

Hero MotoCorp	Feb 2023	Feb 2022	Difference	Growth % MoM	% Share Jan 2023
Motorcycles	3,71,854	3,33,638	38,216	11.45	93.54
Scooters	22,606	23,052	-446	-1.93	6.46
Domestic	3,82,317	3,49,437	32,880	9.41	97.97
Exports	12,143	7,253	4,890	67.42	2.03
Total	3,94,460	3,56,690	37,770	10.59	100.00

On an MoM basis, Hero MotoCorp saw an impressive improvement and saw an increase of 10.59%, with 3,56,690 units sold in Jan 2023. Domestic sales took a flight of 9.41%, with 3,49,437 units sold in Feb 2023. On the other hand, exports surged by 67.42%, with 7,252 units shipped in Feb 2023.

Motorcycle sales (MoM) improved by 11.54%, but scooter sales dipped by 1.93%. Motorcycle sales accounted for 93.54% share, with 3,33,638 units sold in Jan 2023. Conversely, Scooter sales saw a degrowth, selling only 23,052 units in Jan 2023.

Hero MotoCorp YTD Sales

Hero MotoCorp	YTD FY2023	YTD FY2022	Difference	Growth % YoY	% Share FY2023
Motorcycles	44,73,260	42,02,044	2,71,216	6.45	93.01
Scooters	3,35,944	2,91,952	43,992	15.07	6.99
Domestic	46,53,063	42,27,762	4,25,301	10.06	96.75
Exports	1,56,141	2,66,234	-1,10,093	-41.35	3.25
Total	48,09,204	44,93,996	3,15,208	7.01	100.00

Looking at the brand’s year-to-date basis, Hero MotoCCorp sales saw a big improvement of 7.01%. Total sales, including domestic and exports, stood at 48,09,204 units in FY 2023 as opposed to 44,93,996 units in FY 2022. A total of 10.06% of growth was seen in domestic sales, with 46,53,063 units in FY 2023 as opposed to 42,27,762 units sold in FY 2022.

Exports, on the contrary, saw a dip of 41.35%, with 1,56,141 units in FY 2023 as opposed to 2,66,234 units shipped in FY 2022.

YTD growth can be seen in motorcycles and scooters by 6.45% and 15.07%, with 44,73,260 and 3,35,944 units sold, respectively. In FY 2022, a total of 42,02,044 units were sold with a 93.01% share. Export figures accounted for 2,91,925 units in FY 2022 and a 43,992 unit volume growth with a share of 6.99%.

Before you go, read about how Hero plans to Release a Pleasure Plus Update on March 6!

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