Published at March 3, 2023 by BikeJunction
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.
| 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 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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