Hero MotoCorp showed steady YoY gains in August 2024 with a sizeable improvement in motorcycle sales while scooter sales suffered a serious setback
August 2024 signaled a promising month for Hero MotoCorp as the company bettered its last year’s performance by a healthy 4.84% margin. Month-on-month (MoM) sales showed even more encouraging results while on a year-to-date (YTD) sales also grew significantly. The company faced some supply shortages during the past month but looks ahead to the upcoming festive season with some enthusiasm.
Hero MotoCorp YoY vs MoM Sales August 2024
Hero MotoCorp sold a total of 5,12,360 units of motorcycles and scooters in August 2024. This included sales both in domestic and global markets. It was a 4.84% YoY improvement over 4,88,717 units sold in August 2023, a volume growth of 23,643 units. MoM sales saw even more improvement by 38.34% from 3,70,374 units sold in July 2024.
A breakup of Hero MotoCorp’s YoY sales shows a 5.76% improvement in motorcycle sales to 4,78,215 units in the past month from 4,52,186 units sold in August 2023. Motorcycles currently command a 93.34% share, an improvement over 91.90% share held in July 2024 when sales stood at 3,40,390 units relating to a 40.49% MoM growth. Scooter sales on the other hand dipped 6.53% YoY to 34,145 units, down from 36,531 units sold in August 2023 while it made up some numbers on a MoM basis with a 14.26% growth from 29,884 units sold in July 2024. The company expects to see better sales in this scooter segment with the new Destini scooter poised for launch.
This took total domestic sales to 4,92,263 units in August 2024, a 4.08% YoY growth from 4,72,947 units sold in August 2023 while MoM sales improved even more significantly by 41.73% from 3,47,335 units sold in July 2024. Exports on the other hand saw a 27.44% improvement to 20,097 units, up from 15,770 units sold in the same month last year. However, exports suffered a severe MoM decline by 11.62% over 22,739 units shipped in July 2024.
Hero MotoCorp YTD Sales August 2024
Overall dispatches in the April-August 2024 period stood at 24,17,790 units. This was a growth of 8.29% over 22,32,601 units sold in the corresponding period of last year, relating to a sizable volume increase of 1,85,189 units. A diverse product portfolio, more particularly Xtreme 125R has stood the company in good stead leading to an 8.87% improvement in motorcycle sales to 22,59,561 units in the April-August 2024 period from 20,75,418 units sold in the same period last year. Scooter sales also improved, albeit marginally by 0.67% to 1,58,229 units, a volume increase of 1,046 units over 1,57,183 units sold in the year ago period.
A breakup of total domestic sales and exports show healthy improvement during the April-August 2024 period. Domestic sales were up 7.52% to 23,23,960 units, a volume growth of 1,62,559 units over 21,61,401 units sold in the same 5 month period of 2023. Exports surged even more positively by 31.78% from 71,200 units shipped in during April-August 2023 to 93,830 units exported in the current 2024 period.
In August 2024, Hero MotoCorp introduced the new Glamour in a new colour scheme. Presented in two variants of Drum and Disc Brake, a new paint scheme called the Black Metallic Silver has been added to the Glamour palate. A host of first in segment and best in class features will allow the new Glamour to compete efficiently with the Honda SP 125, Honda Shine and TVS Raider 125 in its segment.
The past month also saw Hero MotoCorp expand its global presence along with Terrafirma Motors Corporation (TMC). The latter will be an assembler and distributor of Hero MotoCorp products in the country. Hero also introduced the first Hero Premia Store in New Delhi. With this new inauguration, the company now accounts for over 40 Premia stores across 35 cities in India.
Source: Bike - rushlane.com
