The company is poised to launch more scooters to solidify its presence in this genre to better rival Honda, TVS and Suzuki
World’s largest 2W manufacturer, Hero MotoCorp, ended February 2024 month with a positive note on the backdrop of growing sales. The company registered positive growth in both YoY and MoM scenarios along with positive growth in YTD sales. The company’s biggest strength is its budget commuter motorcycle lineup.
Hero MotoCorp Sales February 2024
The company has posted sales metrics segregated between motorcycles and scooters along with domestic sales and exports in international business. Motorcycles are Hero MotoCorp’s forte and it shows in sales charts. Hero sold 4,36,929 motorcycles in February 2024. Motorcycles accounted for 93.28% of Hero’s total sales.
When compared to the 3,71,854 units sold in February 2023 Hero registered 17.50% YoY growth accounting for a volume gain of 65,075 units. As opposed to the 4,36,929 units sold in January 2024, Hero motorcycles saw an 8.67% MoM growth with 34,873 units gained in volume MoM.
YTD, Hero’s motorcycles saw 47,33,948 units in FY24, while it was 44,73,260 units in FY23. This is a 5.83% YoY growth with a volume gain of 2,60,688 units. In YTD sales, Hero’s motorcycles accounted for 92.26% of total sales. Hero sold 31,481 scooters last month, which contributed to 6.72% of Hero’s total sales.
When compared to 22,606 scooters sold in February 2023 and 31,542 units in January 2024, Hero witnessed a 39.26% YoY growth and a 0.19% MoM decline. Volume gained YoY stood at 8,875 units and volume lost MoM stood at 61 units.
Hero is expanding its scooter portfolio with additions of Xoom 125 and Xoom 160 in the coming future. YTD, Scooters sold 3.97,092 units with an impressive 18.20% YoY growth over 3,35,944 units sold in FY23.
Exports almost doubled
Domestic market is still Hero’s main strength with 4,45,257 units sold in India. Hero’s domestic sales accounted for 95.06% of company’s total sales. When compared to 3,82,317 units from domestic sales from last year, there was a 16.46% YoY growth. As opposed to 4,20,934 units sold a month before, domestic sales saw 5.78% MoM growth over January 2024.
Volume gained by domestic market stood at 62,940 units YoY and 24,323 units MoM. YTD, Hero’s domestic sales accounted for 96.69% share of total sales selling 49,61,275 units and registering 6.62% YoY growth. Company’s exports presented a wonderful 90.67% YoY growth and 82.83% MoM growth by shipping 23,153 units last month.
Volume almost doubled with exports with the gain standing at 11,010 units YoY and 10,489 units MoM. There was an 8.73% YoY growth in YTD analysis with exports too, with 1,69,765 units shipped in FY24. In total, Hero MotoCorp pushed out 4,68,410 units last month and 51,31,040 units in FY24 YTD. Thus accounting for 18.75% YoY growth and 8.03% MoM growth. Volume gain was 73,950 units YoY and 34,812 units MoM.
Source: Bike - rushlane.com
