Hero MotoCorp suffered a severe YoY and MoM decline in sales in July 2024 with 3.37 units sold
Hero MotoCorp saw its sales in domestic markets being surpassed by Honda Motorcycle and Scooter India (HMSI) by a significant 1,01,819 units. This was the first time that Honda two wheeler domestic sales have overtaken that of Hero MotoCorp. Hero MotoCorp cites supply-chain constraints and disruptions in its logistics, both of which have severely impacted dispatches during the past month. However, the company looks forward to the festive season to bounce back to once again claim its No. 1 spot on the list of best-selling two wheeler OEMs in India.
Hero MotoCorp – YoY Domestic Sales July 2024
Hero MotoCorp suffered an 11.34% YoY drop in domestic sales to 3,37,299 units. This was a 43,152 unit volume decline over 3,80,451 units sold in July 2023. Almost every model in the company portfolio suffered from lower sales save for the Pleasure and Xtreme 160/200 that saw outstanding demand.
Hero Splendor, though ending July 2024 with 11.28% YoY decline in sales and a 62.67% share in the company portfolio, featured at No. 1 on the sales list. It accounted for 2,11,400 unit sales last month, down from 2,38,267 units sold in July 2023. The Hero Splendor also continued to be the best-selling motorcycle last month, ahead of the Honda Shine by a hefty margin.
Sales of the Hero HF Deluxe dipped by 29.28% YoY to 46,627 units from 65,931 units sold in the same month last year. Currently commanding a 13.82% share, the HF Deluxe was followed by the Xtreme 125R of which 25,840 units were sold last month. This is a relatively new entrant into the company portfolio which entered showrooms in February 20, 2024 and is Hero’s first bike in the 125cc segment.
Improved sales were seen for the Hero Pleasure by 64.08% to 13,748 units, up from 8,379 units sold in July 2023. Passion sales dipped by a significant 66.72% to just 11,399 units last month from 34,253 units sold in July 2023 while Glamour also suffered a 13.33% YoY setback to 9,479 units. Hero Destini sales dipped 20.64% YoY to 5,709 units while there were 4,600 units of the Hero Vida sold last month.
Sales de-growth was also seen in the case of Xoom (3,106 units) by 64.19% and Xpulse 200 (2,523 units) by 30.50% YoY. Triple digit growth was reported for the Xtreme 160/200 by 116.08% to 2,070 units sold in July 2024 whereas there had been just 958 units sold in the same month last year. The list also included Karizma 210 (529 units), Mavrick 440 (269 units) while Maestro sales fell 100% to 0 units over 2,229 units sold in July 2023.
MoM Sales July 2024
Hero MotoCorp suffered an even deeper decline in MoM sales by 31.27% from 4,90,743 units sold in June 2024 relating to a 1,53,444 dip in volumes. Splendor sales fell 30.82% from 3,05,586 units while HF Deluxe saw its sales decline by 48.16% from 89,941 units sold in June 2024. Hero Xtreme 125R and Pleasure however, added some positivity to the sales list with a 22.73% and 56.65% MoM improvement in sales.
Lower down the sales list, Pleasure (-12.98%), Glamour (-60.76%), and Destini 125 (-48.75%) suffered MoM sales decline while sales of the Vida improved by 13.89% over 4,039 units sold in June 2024 to 4,600 units in the past month. Hero Xoom (-36.69%), Xpulse 200 (-36.27%) and Xtreme 160/200 (-34.03%) also suffered MoM decline while sales of Karisma 210 improved by 11.13%. Mavrick 440 and Maestro suffered a 41.39% and 100% decline.
Source: Bike - rushlane.com
