Splendor and Deluxe motorcycles account for almost 80% of Hero’s total sales in Aug 2024 – Mavrick 440 sales declined to 170 units
Hero MotoCorp displayed a moderate 2.38% year-on-year growth in domestic sales for August 2024, with a total of 4,91,367 units sold, compared to 4,79,929 units in August 2023. This growth came from a mix of positive performances by key models and significant dips in others.
Splendor and HF Deluxe: The Backbone of Hero Sales
As always, the Hero Splendor led the brand’s sales, accounting for a massive 61.65% of total units sold in August 2024. With a growth rate of 4.49%, it continues to be the go-to choice for the majority of Hero’s customer base. Close behind was the HF Deluxe, which saw a notable increase of 15.89% over last year, contributing 17.22% to the company’s sales. These two models remain the key drivers of Hero’s domestic market presence.
Launched a few months ago, Xtreme 125R has quickly climbed up the ranks. In Aug 2024, it was at No 3 with sales of 27,668 units, contributing 5.63% to Hero’s total sales last month. Meanwhile, the Passion struggled with a significant 40.16% drop in year-on-year sales, despite contributing 4.63% to the overall numbers. The Glamour also faced challenges, witnessing an even larger decline of 48.84%, though it still held 3.27% of Hero’s total sales.
Mixed Results for Scooters and Electric Models
Hero’s Pleasure scooter remained steady, with a small year-on-year growth of 0.83%, showing continued interest in this segment. However, the Destini 125 saw a decline of 15.49%, which impacted its share, bringing it down to 2.04% of the total sales. Destini sales decline is likely because of the new version launched this month.
In contrast, Hero’s electric offering, the Vida, experienced a phenomenal growth of 502.40%, signaling rising consumer interest in electric mobility solutions. This growth gave the Vida a 1.23% share in Hero’s total sales for August 2024. Hero Xoom scooter faced a 51.23% decline in sales, reflecting weaker demand in this category. Similarly, the Xpulse 200 also saw a significant decline of 25.14% year-on-year, contributing only 0.60% to total sales. The Xtreme 160/200 models suffered as well, with a sharp decline of 41.28%, indicating potential difficulties in the premium motorcycle segment. Karizma 210 and Mavrick 440 sales currently account for a smaller share (0.05% and 0.03%, respectively), while Maestro sales were 0.
Month on Month Report
Sales in July 2024 were at 3,37,299 units. This marked an impressive 45.68% increase in sales over Aug 20244. Splendor witnessed a remarkable month-on-month growth of 43.30%, with sales jumping by over 91,000 units compared to July. HF Deluxe followed closely, posting an even more impressive 81.45% growth. Hero Passion, saw an almost doubled month-on-month growth, recording a 99.70% increase in August 2024. Glamour also performed well with a 69.40% growth over July. Xtreme 125R maintained steady growth, rising by 7.07% month-on-month.
On the scooter side, the Destini 125 saw a massive growth of 76.00%, reflecting a substantial jump in customer interest. Similarly, the electric Vida model recorded a 30.96% month-on-month increase, underlining the growing acceptance of electric mobility options among Hero customers. However, the Pleasure scooter faced a decline of 14.40%, indicating a potential shift in preferences towards other models in the lineup.
In the premium segment, the Xoom scooter posted a solid month-on-month growth of 24.50%, while the Xpulse 200 adventure bike also saw a 16.13% rise in sales compared to July. The Xtreme 160/200 models recorded a modest growth of 9.76%. However, the Karizma 210 and Mavrick 440 faced declines of 51.23% and 36.80%, respectively, suggesting some challenges in the performance of these premium bikes.
Source: Bike - rushlane.com
