Hero MotoCorp saw the Splendor most in demand in domestic markets while the HF Deluxe was the most exported in Jan 2023
Hero MotoCorp, the largest two wheeler manufacturer in the world, has seen lower domestic sales and exports in the past month. Sales dipped 2.56 percent in domestic markets while it was exports that saw an even higher de-growth at 66.75 percent YoY.
Domestic sales stood at 3,49,426 units in Jan 2023, down 2.56 percent from 3,58,607 units sold in Jan 2022. This was a 9,181 unit volume de-growth. The company introduced the Xoom scooter at the end of January 2023. This 110cc scooter, which targets a younger segment of buyers in the country, could push up sales in the months ahead.
Hero MotoCorp Sales Breakup Jan 2023
Hero MotorCorp had two of its bikes – Splendor and HF Deluxe in top form in domestic markets. These two bikes which featured at No. 1 and 4 on this list of top 10 best-selling motorcycles in India in Jan 2023 commanded a market share of over 50 percent.
Hero Splendor commanded a 74.93 percent share on this list with 2,61,833 units sold in Jan 2023, up 25.72 percent from 2,08,263 units sold in Jan 2022. HF Deluxe sales dipped 44.32 percent YoY to 47,840 units, down from 85,926 units sold in Jan 2022. This was a 38,086 unit volume de-growth. Increased demand was noted for the Hero Destini 125cc in Jan 2023. Sales improved to 10,975 units in the past month, up 259.95 percent over 3,049 units sold in Jan 2022.
Thereafter, every model in the company portfolio suffered YoY degrowth in Jan 2023. Glamour sales dipped 60.09 percent to 9,766 units from 24,473 units sold in Jan 2022 while sales of Hero Pleasure also fell by 44.27 percent to 7,354 units, down from 13,195 units sold in Jan 2022.
Domestic sales of Hero Passion (3,601 units), Maestro (3,008 units), Xpulse 200(2,427 units) also suffered YoY de-growth while there were 1,183 units of the new Xoom scooter sold last month. Xtreme 160/200 sales also fell by 67.75 percent to 989 units from 3,067 units sold in Jan 2022 while Vida sales were at 450 units. Hero Vida electric scooter was launched in October 2022 marking the company’s foray into the electric two wheeler segment. Offered in Pro and Plus variants, the scooters offer a range of 165 kms and 143 kms respectively.
Hero Exports Jan 2023
Hero MotoCorp suffered a 66.75 percent YoY export de-growth in Jan 2023. Exports which had stood at 21,816 units in Jan 2022 fell by 14,563 units to 7,253 units in the past month. Every model on this list ended in the red except for the Xpulse 200. HF Deluxe was the most in demand in global markets with 2,448 units shipped in the past month, down 31.92 percent YoY from 3,596 units exported in Jan 2022. Hero Splendor was at No. 2 with 1,936 units exported last month, down 51.96 percent from 4,030 units sold in Jan 2022.
Hero Hunk exports suffered the highest YoY de-growth of all. Exports dipped 84.56 percent to 1,643 units in Jan 2023 down from 10,642 units shipped in Jan 2022, the month when it had been the top exported model from Hero MotoCorp. Glamour (672 units), Xpulse 200 (472 units), Maestro (50 units) and Destini 125 (32 units) also featured lower down the order on the export list with each noting a YoY de-growth.
Source: Bike - rushlane.com
