Two-Wheeler Sales November 2023: Hero MotoCorp Reports 25% Domestic Sales Growth

Hero MotoCorp has revealed that it sold 476,286 units in the domestic market in November 2023. The world’s largest two-wheeler manufacturer by volumes reported a 25.39 per cent growth year-on-year, compared to 379,839 units sold in November 2022. Hero attributed the strong sales to a strong festive season and expects the growth momentum to be sustained backed by the ongoing marriage season and a positive consumer sentiment.

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Hero MotoCorp’s cumulative sales for November 2023 stood at 491,050 units, witnessing a 25.61 per cent increase in volumes over 390,932 units sold in November last year. Motorcycle sales stood at 441,276 units, growing by 25.07 per cent over 352,834 units sold during the same period last year. Scooter sales stood at 49,774 units, growing by 30.65 per cent annually, when compared to 38,098 units sold in November last year. That said, month-on-month domestic volumes were down by 14.47 per cent when compared to 556,894 units sold in October this year.

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Hero reported its export sales at 14,764 units, a promising growth of 33.09 per cent as against 11,093 units sold in November last year. The Splendor maker’s year-to-date volumes were also in the green with the manufacturer selling 38,35,080 units between April and November in FY2024, growing by a steady 4.67 per cent. In contrast, the company sold 36,63,875 units during the same period in FY2023. Hero also announced that it recorded its highest-ever festive sales with over 14 lakh units sold during the 32-day auspicious period between Navratri and Bhai Dooj.

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November 2023 saw Hero return to the Milan Motorcycle Show (EICMA 2023) with several new product unveils. This included the near-production Hero Xoom 125R and Xoom 160 scooters, while the Concept 2.5R XTunt previewed a new quarter-litre street-naked from the manufacturer. The company also unveiled the Vida V1 Pro and V1 Coupe for Europe, effectively announcing its foray into the market. The more fun Vida Lynx and Acro dirt bike concepts also managed to grab a lot of attention.