Hero MotoCorp posted an 8.97 percent YoY growth in domestic sales with the Splendor commanding a 67.39 percent share
Hero MotoCorp continued to lead the two wheeler segment in terms of sales in May 2023. Sales figures improved in domestic markets while exports fell substantially on a YoY basis. There were several factors that brought about this growth in domestic markets. Improved buyer sentiments and a timely and abundant monsoon season are primary reasons for this increase.
Total sales (domestic + exports) in the past month stood at 5,19,458 units, up from 4,86,674 units sold in May 2022. Sales in domestic markets improved by 8.97 percent YoY to 5,08,293 units in May 2023, up from 4,66,438 units sold in May 2022. This was a volume growth of 41,855 units. It was also a MoM growth over 3,86,173 units sold in April 2023.
Hero MotoCorp Domestic Sales May 2023
Hero Splendor continued to command the domestic sales list with a 67.39 percent share. It was the only model other than the Xpulse 200 to record YoY sales growth, while Xoom 110 cc scooter is a recent entrant along with the Vida e-scooter. Sales of the Splendor improved 30.61 percent to 3,42,526 units in May 2023, up from 2,62,249 units sold in May 2022 relating to an 80,277 unit volume growth.
YoY de-growth was reported for the Hero HF Deluxe which dipped 14.32 percent to 1,09,100 units in May 2023 from 1,27,330 units sold in May 2022. It currently commands a 21.46 percent share in the company portfolio. Sales of Hero Glamour also fell by 44.03 percent to 15,875 units, down from 28,363 units sold in May 2022. The Hero Xoom 110cc scooter is a relatively new entrant, launched in January 2023. Sales stood at 13,377 units in the past month.
Sales de-growth was also seen for the Hero Pleasure, down 60.99 percent to 7,229 units in May 2023 from 18,531 units sold in May 2022 while sales of Destini 125 dipped by 36.98 percent to 6,864 units in the past month. Hero Xpulse 200 sales improved on a YoY basis by 19.48 percent to 4,159 units as against 3,481 units sold in May 2022. The sales list also included the Passion (3,678 units), Xtreme 160/200 (3,555 units) and Maestro (1,570 units) along with 360 units of the Vida electric scooter.
Hero Exports May 2023
Exports of Hero MotoCorp dipped 44.83 percent YoY in May 2023. Total exports stood at 11,165 units in the past month, down from 20,236 units sold in May 2022. It was a MoM growth from 9,929 units shipped in April 2023. All models except for Hero Glamour and Maestro posted a YoY de-growth. Glamour exports improved by 32.68 percent to 2,996 units in May 2023, up from 2,258 units shipped in May 2022 to command a 26.83 percent share.
Splendor at No. 2 posted a 58.29 percent YoY degrowth to 2,773 units last month from 6,648 units exported in May 2022 while Hero Hunk sales dipped 36.79 percent to 1,739 units from 2,751 units YoY. Exports also fell for the HF Deluxe by 69.78 percent to 1,653 units and for the Xpulse 200 by 48.68 percent to 1,086 units. Maestro sales improved by 22.43 percent to 666 units in May 2023 from 544 units shipped in May 2022 but Passion exports fell by 60 percent to just 180 units from 450 units shipped in the same month of last year. There was also the Hero Destini on the export list with 72 units shipped in the past month.
Upcoming / Recent Launches
The company has also introduced new models such as Hero Splendor 125cc XTEC and more recently the Passion Pro Plus, both of which have been well received. Earlier this month, Hero MotoCorp also updated its 100cc motorcycle range with the new HF Deluxe Canvas Black Edition. The new Harley X440 Roadster is also opened for booking. This is a part of a joint partnership between Harley Davidson and Hero MotoCorp.
Source: Bike - rushlane.com
