Hero’s top 2 sellers, Splendor and Deluxe account for almost 78% of the total domestic sales in Sep 2023
Hero MotoCorp, the world’s largest manufacturer of two-wheelers, has reported robust sales figures for its scooters and motorcycles in India for the month of September 2023. The company’s performance indicates steady growth in the domestic market and a substantial boost in exports.
Hero MotoCorp Sales Breakup Sep 2023
Hero MotoCorp’s domestic sales performance for September 2023 showcases a positive trend, with an overall growth of 2.39% compared to the same month last year. The company sold a total of 5,19,759 units in September 2023, up from 5,07,650 units in September 2022.
The iconic Hero Splendor continues to be the top performer for the company, with 3,19,692 units sold in September 2023, marking an impressive growth of 9.99% compared to the previous year. This popular model continues to maintain a dominant market share of 61.51%.
While the Hero HF Deluxe saw a decrease in sales by 10.13%, with 84,118 units sold, it remains a significant contributor to the company’s overall sales, commanding a 16.18% market share. Passion, Glamour, and Destini 125 models witnessed mixed results, with the Passion showing a marginal growth of 0.34%, Glamour experiencing a decline of 7.02%, and the Destini 125 demonstrating a 2.13% growth.
On the other hand, the Pleasure, Xtreme 160/200, Xpulse 200 and Maestro posted varying degrees of decline in sales. The most notable decline was seen in the Maestro and Xpulse 200 models, with drops of 92.77% and 52.82%, respectively. Newly launched Xoom and Vida scooters are slowly reporting an increase in sales while the new Karizma 210 is expected to add a sales boost in coming months.
Hero MotoCorp Exports Performance Sep 2023
Hero MotoCorp’s exports also exhibited strong growth in September 2023. The company exported a total of 16,709 units, marking a significant 35.96% increase compared to September 2022. Hero Maestro led the export segment with 3,945 units, showing remarkable growth of 557.50% year-on-year. The Hunk and Xpulse 200 followed closely behind, with 72.73% and 86.10% growth, respectively.
However, the HF Deluxe, Glamour, Splendor, Passion, Pleasure, and Destini models witnessed varying degrees of decline in exports, indicating that Hero MotoCorp’s international market performance is influenced by specific models and regions.
Hero MotoCorp’s sales performance in September 2023 reflects a positive overall trend in the domestic market and a substantial boost in exports. The continued popularity of the Hero Splendor and growth in the export segment contribute to the company’s resilience in a competitive two-wheeler market. Despite challenges posed by changing consumer preferences and market dynamics, Hero MotoCorp remains a dominant player in the Indian and global two-wheeler industry, with a commitment to innovation and customer satisfaction.
Source: Bike - rushlane.com
