Hero MotoCorp Sales: Hero MotoCorp, the market leader in two-wheelers, has concluded the month of June 2023 in the red. Their sales have dropped dramatically both year on year and month on month, with YTD sales also falling. Total sales (domestic + exports) were 4,36,993 units in June 2023, a 9.87 percent decrease from 4,84,867 units sold in June 2022. This represented a de-growth of 47,874 unit volume. MoM sales also decreased by 15.88 percent from 5,19,474 units sold in May 2023.
Domestic and motorcycle YTD sales
While the company reported strong growth in scooter sales, motorcycle sales fell 12.34 percent to 4,04,474 units in June 2023. This represented a 12.34 percent decrease from the 4,61,421 units sold in June 2022. MoM sales declined by 17.34 percent from 4,89,336 units sold in May 2023 to 4,89,336 units sold in May 2023.
Motorcycle ownership declined to 92.56 percent in June 2023, down from 94.20 percent in May 2023. In terms of motorcycle YTD sales in FY 2024, it was a 3.34 percent decrease to 12,62,640 units, down from 13,06,294 units sold in FY 2023.
Scooters are becoming favourite
The buyers in India have been more bullish about scooter sales. Sales increased by 38.70 percent year on year to 32,519 units in the previous month, up from 23,446 units sold in June 2022. MoM sales increased by 7.90 percent from 30,138 units sold in May 2023, giving the company a 7.44 percent market share. Scooter sales have increased 7.19 percent year on year to 89,934 units in FY24, up from 83,899 units sold in the same period last year.
Exports declined 34.27 percent year on year to 14,236 units in June 2023, down from 21,657 units delivered in June 2023, whereas 11,165 units were exported in May 2023, representing a 27.51 percent MoM increase. Exports declined 43.05 percent to 35,326 units in FY24, down from 62,027 units in FY23.
Company is coming up with new products
The company is now hopeful about the release of its new premium motorcycle in collaboration with Harley Davidson. On July 3, 2023, the new Harley-Davidson X440 neo retro roadster will be released in India. In June, the business also debuted the new Xtreme 160R 4V, which is available in three variants: Standard, Connected 2.0, and Pro with Upside Down forks. A new range of 100cc HF Deluxe and Passion+ motorcycles entered the company portfolio last month.
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