Hero registers 5% growth in sales in CY2023, volumes drop marginally in December

  • Hero MotoCorp closed the 2023 calendar year with over 54.99 lakh units sold, a growth of 5 per cent over 52.47 lakh units sold in CY2022.
Hero MotoCorp dispatched 393,952 units in December 2023 with volumes dropping marginally year-on-year

Hero MotoCorp reported its sales for 2023 and the company closed the calendar year with over 54.99 lakh units between January and December. The manufacturer registered a five per cent growth in volumes when compared to 52.47 lakh units sold during the same period in 2022. While sales ended in the green for the year, Hero witnessed a marginal drop in volumes with 393,952 units sold in December 2023, as against 394,179 units sold in December 2022.

Hero MotoCorp said that it expects the positive momentum to grow further from the fourth quarter of FY2024 with increased government spending and improved liquidity, encouraging farm activity and the upcoming marriage season.

Also Read : Hero MotoCorp teases Harley-Davidson X440-based motorcycle, unveiling on January 22

Motorcycle sales in December remained flat with 354,658 units sold, when compared to 356,749 units sold during the same month a year ago. Scooter sales were down by five per cent with 39,294 units sold last month, over 37,430 units sold in December 2022.

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Hero MotoCorp introduced its premium two-wheeler strategy in 2024 across segments and also went on to launch the Premia dealerships

Domestic sales remained flat at 377,842 units, as against 381,365 units a year before. Exports, on the other hand, registered a 25 per cent hike last month with 16,110 units shipped overseas, compared to 12,814 in December 2022.

The previous year also saw Hero make some significant announcements including the launch of the Xoom 110, Xtreme 160R 4V, Karizma XMR 210 and the return of the Passion Plus. The company also launched its maiden offering in partnership with Harley-Davidson in the form of the H-D X440. Hero also strengthened its EV arm, Vida, with network expansion and collaboration, announcing its partnership with Ather Energy for interoperable fast-charging stations across the country.

Furthermore, Hero announced Vida’s entry into the European market at EICMA 2023 while showcasing future models like the Xoom 125R, Xoom 160, and the 2.5R Xtunt Concept. The two-wheeler giant is all set to kick off 2024 with its motorsports program and will be competing in the upcoming Dakar Rally. The brand also has its new flagship product in the works which will be introduced on January 22, 2024.

First Published Date: 02 Jan 2024, 21:42 PM IST

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