Hero MotoCorp released its sales numbers for the month of November 2022 revealing that the company posted a 12 per cent growth in cumulative sales volumes. The company reported cumulative sales of 3,90,932 units in the month, up from 3,49,393 units in the corresponding month last year, holding onto its position as the highest selling two-wheeler brand. Month-on-month Hero saw sales decline 14 per cent as compared to the 4,54,582 units sold in October 2022.
Starting with motorcycles, the brand reported cumulative sales of 3,52,834 units – up 7 per cent over last November (3,29,185 units). Scooter sales meanwhile stood at 38,098 units as against 20,208 units in November 2021 (up 88.5 per cent). Compared to October, motorcycle sales declined by 15 per cent from 4,19,568 units though scooter sales posted gains of almost 9 per cent (35,014 units sold in October 2022).
Moving to the domestic market Hero posted sales of 3,79, 839 units in the month – up from 3,28,862 units last year. Exports meanwhile continued to remain muted with 11,093 units shipped as against 20,531 units last year.
For the current financial year, Hero remained in the green with cumulative sales up 9 per cent over the previous financial year (36,63,875 units as against 33,60,493 units). Motorcycle sales too were up 8 per cent over the same period last year while scooter sales were up by 9.1 per cent. Domestic sales stand at 35,39,944 units as of end November compared to 31,63,155 units last year. Exports though were down to 1,23,931 units in the current financial year compared to 1,97,338 units last year.
Hero says that it expects the sales momentum in the domestic market to build in the coming quarters on account of favourable economic indicators, including encouraging farm activity and positive consumer sentiments.
