Strong festive push helps Hero MotoCorp's domestic sales grow 25% in November
Hero MotoCorp reported its sales for November 2023 and the company’s domestic volumes stood at 476,286 units, growing by 25.39 per cent year-on-year, as against 379,839 units sold in November last year. The positive sales were backed by a strong festive season this year as more and more auto players registered double-digit growth last month.
Hero’s cumulative sales in November 2023 stood at 491,050 units, registering a 25.61 per cent increase in volume when compared to 390,932 units sold in November 2022. The company says it expects the healthy uptick in demand to continue in the coming months on account of favourable economic indicators. This includes the ongoing marriage season as well as a positive consumer sentiment.
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Hero’s motorcycle sales stood at 441,276 units in November, an increment of 25.07 per cent over 352,834 units sold during the same period last year. Scooter sales, saw a healthy rise in volumes, growing by 30.65 per cent year-on-year with 49,774 units sold in November, as opposed to 38,098 sold during the same month last year.
Exports stood at 14,764 units, registering a growth of 33.09 per cent annually when compared to 11,093 units sold in November 2022. With respect to year-to-date sales, Hero’s cumulative sales stood at 38,35,080 units between April and November 2023 (FY2024), a growth of 4.67 per cent over 3,663,875 units sold during the same period in the last fiscal year (FY2023).
November was also a particularly eventful month for Hero MotoCorp with the brand showcasing its future models at EICMA 2023. The company unveiled the Concept 2.5R XTunt, Xoom 125R and Xoom 160, as well as the Vida Lynx and Acro concepts. Hero also announced its foray into Europe with the Vida V1 Pro and V1 Coupe electric scooters. Furthermore, Hero recorded its highest-ever festive sales clocking more than 14 lakh units in retail volumes during the 32-day festive period between Navratras and Bhai Dooj.