Hero MotoCorp retained its position as the market leader in two-wheeler sales with sales recovering to over the 5-lakh unit mark in May 2023. Having previously sold over 5 lakh units in March 2023, Hero’s sales had dipped notably to 3,96,107 units in April. The two-wheeler manufacturer reported cumulative sales of 5,19,474 units in May 2023 in comparison posting a 7 per cent growth year-on-year and a more notable 31.1 per cent growth month-on-month.
The two-wheeler manufacturer reported sales of 5,08,309 units in India – up almost 9 per cent over May 2022 and up 31.6 per cent from April 2023.
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Hero said that it expected its strong sales performance to continue in the coming months with new launches in the works and the brand seeing positive customer sentiment. The two-wheeler manufacturer has been working on new 400cc motorcycles as well as an all-new Karizma XMR that was recently shown to dealer last month ahead of its launch.
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Cumulative motorcycle sales for the month stood at 4,89,336 units, up from 4,52,246 units in the same month last year. Numbers were also significantly up as compared to April 2023 when the brand had reported motorcycles sales of 3,68,830 units. Scooter sales meanwhile were down year-on-year at 30,138 units from 34,458 units though still higher than April’s 27,277 units.
Exports meanwhile continue to see a declining trend year-on-year. India’s largest two-wheeler manufacturer reported exports of 11,165 units – up as compared to 9,923 units in April 2023, though down from 20,238 units last year.
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Year-to-date numbers paint a positive picture for the early part of FY2024 with 9,15,581 units sold so far cumulatively since April 1 as against 9,050326 units in the same period last year. The strong showing however has come on the back of a growing demand for Hero’s scooters in the domestic market while exports have shrunk from 40,370 units in April-May 2022 to 21,088 units in 2023.
