Two-Wheeler Sales August 2022: Hero MotoCorp Registers Marginal Sales Growth

Hero MotoCorp has recorded a marginal growth of 1.92 per cent selling 4,62,608 units in August 2022 as compared to 4,53,879 units sold in the same month last year, selling just 85 units more than its closest rival - Honda Motorcycle & Scooter India that sold 4,62,523 units in the same month. Hero MotoCorp sold 4,50,740 units in the domestic market recording an uptick of 4.54 per cent when compared to 4,31,137 units sold in the same month a year ago. However, its exports witnessed a decline of 47.81 per cent selling 11,868 units as compared to 22,742 units exported in the same month last year. Motorcycles continued to dominate sales at Hero Motocorp selling 4,30,799 units and recording a growth of 2.42 per cent when compared to 4,20,609 units sold a year ago. But scooter sales witnessed a de-growth of 4.39 per cent selling 31,809 units as compared to 33,270 units sold a year ago.

In its statement, Hero MotoCorp said, "The Company expects the momentum to build-up in the coming months on account of a combination of multiple factors, including a healthy growth in country's GDP, a normal festive season after a gap of two years, better monsoon resulting in decent agricultural harvest and positive consumer sentiments."

As far as year-to-date sales are concerned, Hero MotoCorp recorded a growth of 18.91 per cent selling 22,98,381 units in the April 2022 - August 2022 period as compared to 19,32,784 units sold in the corresponding period last year. The company sold 22,09,590 units in the domestic market recording a growth of 22.68 per cent as compared to 18,01,052 units sold in the same period last year. Its exports witnesses a slump of 32.59 per cent selling 88,791 units as compared to 1,31,732 units sold a year ago. The company recorded an upsurge of 19.62 per cent in motorcycle sales at 21,58,381 units as compared to 18,04,324 units sold a year ago. At the same time, its scooter sales went up by 8.98 per cent at 1,40,000 units sold between April 2022 and August 2022 as compared to 1,28,460 units sold a year ago.