Hero MotoCorp registered a double-digit growth of 14.42% from April to September period over vehicles sold in the same period last year
Hero MotoCorp sold more than 28 lakh units in the first six months of the Financial Year (April-September) 2022-23. This is a double-digit growth of 14.42% over the corresponding period of the previous fiscal (FY ’22) when the Company had sold more than 24 lakh units.
The Indian motorcycle giant pushed out 519,980 units of motorcycles and scooters in September 2022. Sequentially, this translates into a growth of 12.4% MoM over the month of August 2022, when Hero had only sold 462,608 units. However, when we take the sales numbers that Hero crunched in September 2021, we see a slight drop in sales.
Total sales in September 2021 were 5,30,346 units with a volume loss of 10,366 units, Hero registered a 1.95% YoY drop and 12.40% MoM growth. Motorcycle sales stood at 4,80,237 units this month with a 1.88% drop in sales YoY with a 9,180 units volume drop and a 6.54% growth MoM. But, motorcycle sales account for 92.36% of total Hero sales.
Hero MotoCorp Sales Sep 2022
Hero scooters saw 39,743 units sold in total with a 2.90% drop in sales YoY. However, scooters register a 234.88% growth MoM which is staggering. Top selling Hero scooters include Maestro, Destini. Hero’s domestic sales thrived while exports dragged it down. Domestically, Hero registered 0.44% growth YoY and 17.85% growth MoM. But with only 12,290 units shipped in total, Hero exports hit the ground with a 50.61% YoY drop and a 61.36% MoM drop.
Motorcycles are Hero’s forte with a 92.36% share in the company’s total sales. Top selling motorcycles from Hero include Splendor, HF Deluxe, Passion, Xtreme, Xpulse, etc. While scooters only enjoy 7.64% of the total sales. It can also be seen that Hero is bleeding red when it comes to exports. Hero’s exports only account for 2.36% of total volume pushed. While domestic sales account for 97.64% of total volume pushed out of their factories.
Hero MotoCorp YTD sales
When it comes to Year To Date analysis, Hero fares relatively better. With 28,18,361 units pushed out, Hero registered a 14.42% YoY growth with 3,55,231 units gained YoY. Out of this figure, 26,38,618 units are motorcycles which gained 3,44,877 units YoY and registered 15.04% growth YoY. Scooters account for 1,79,743 units and register 6.11% growth YoY with 10,354 units volume growth.
Hero’s sales stand strong domestically at 27,17,280 units YTD with 4,10,766 units of volume gain and register a 17.81% YoY growth. But, as we said earlier, Hero loses precious ground when it comes to exports. With just 1,01,081 units shipped YTD. Hero lost 35.46% of sales YoY.
The company is geared up to launch its first electric vehicle, VIDA – Powered by Hero on October 7, 2022. This move by Hero was much needed as the company needed to establish its roots strongly in the ever-growing 2W EV segment. With a US$60 million investment in Cali-based Zero Motorcycles, a partnership with Gogoro and Ather Energy, Hero is hoping to emerge as an EV giant in the near future.
Source: Bike - rushlane.com
