In July 2023, Hero MotoCorp and Harley-Davidson launched the X440 in India, their first co-developed premium motorcycle
Hero MotoCorp has posted a YoY de-growth in domestic while exports improved in July 2023. YTD sales also ended in the negative though scooter sales saw an 11.52 percent YoY growth. A series of new launches, the upcoming festive season and several financial schemes being offered by the company could spur up sales in the months ahead.
Hero MotoCorp Sales July 2023
Hero MotoCorp has reported total sales (domestic + exports) at 3,91,310 units in July 2023. This was a 12.18 percent YoY de-growth from 4,45,580 units sold in July 2022 relating to a 54,270 unit volume decline. The company has seen lower domestic sales brought down by a 14.41 percent dip in motorcycle sales which stood at 3,60,592 units in July 2023. This was 60,696 units lower when compared to 4,21,288 units sold in July 2022.
Motorcycles command a 92.15 percent share in the company portfolio. Scooter sales on the other hand improved by 26.45 percent to 30,718 units in July 2023 from 24,292 units sold in July 2022. Hero Pleasure +, Destini 125 Xtec and Xoom are the most popular scooters while the Maestro Edge 125 also commands a fair share of attention. This took total domestic sales down 13.81 percent YoY to 3,71,204 units in July 2023 from 4,30,684 units sold in July 2022. Exports on the other hand improved 34.98 percent YoY to 20,106 units from 14,896 units shipped in July 2022.
On a MoM basis, Hero domestic sales fell by 12.19 percent from 4,22,757 units sold in June 2023. Motorcycle and scooter sales both suffered a MoM de-growth by 10.85 percent and 5.54 percent respectively. Exports however grew by 41.23 percent from 14,236 units shipped in June 2023. This took total MoM sales down 10.45 percent from 4,36,993 units sold in June 2023, a volume de-growth of 45,683 units.
Hero MotoCorp YTD Sales
Taking into account sales of Hero MotoCorp during the period April 2023 to July 2023, Motorcycle sales dipped 6.04 percent to 16,23,232 units in FY24 period as compared to 17,27,582 units sold in the same period of the previous year. Scooter sales improved by 11.52 percent to 1,20,652 units in FY24 from 1,08,191 units sold in FY23.
Total domestic sales thus dipped 4 percent to 16,88,454 units in FY24 from 17,58,850 units sold in FY23. Exports also fell by 27.94 percent to 55,430 units in FY24 from 76,923 units sold in FY2023 taking total YTD sales down 5.01 percent to 17,43,884 units in the FY24 period from 18,35,773 units sold in the same 4 month period of the previous year.
Hero MotoCorp has commenced production of the new Harley-Davidson X440 from its Garden Factory plant in Neemrana, Rajasthan and deliveries are set to commence from October 2023. Harley-Davidson X440 is being offered in three variants of Denim, Vivid and S priced at Rs 2,29,000, Rs 2,49,000 and Rs 2,69,000 respectively. In July, Hero MotoCorp discontinued the Xtreme 200S 2V from its company portfolio and introduced the more powerful Hero Xtreme 200S 4V priced at Rs 1.41 lakh (ex-sh).
Source: Bike - rushlane.com
