Hero MotoCorp is one of the most popular motorcycle manufacturers in India. The company has recently been very successful due to its collaboration with Harley-Davidson to launch the X440, the smallest Harley-Davidson and the only model with a single-cylinder engine in its current lineup. In fact, Hero has been quite successful lately and shows no signs of slowing down.
India is one of the largest motorcycle markets in the world, with millions of new motorcycles being sold every month. In terms of volumes alone, Hero MotoCorp is one of the largest motorcycle producers, not only in India but worldwide. In September 2023 alone, Hero MotoCorp sold a total of 536,499 two-wheeler vehicles. This marks an impressive growth of 3% compared to the same period in 2022, when the brand sold 519,980 motorcycles. While 3% may seem like modest growth, it is evidence of continued success, even in a market that is already saturated.
In September 2023, Hero MotoCorp witnessed an increase in motorcycle sales, with a total of 494,270 units sold, marking a growth of 14,033 units compared to the 480,237 units sold in September 2022. Similarly, scooter sales showed year-on-year growth, reaching 42,229 units in September 2023 compared to 39,743 units in September 2022. Global domestic sales for September 2023 reached 519,789 units, surpassing the 507,690 units sold in September 2022. Additionally, the company experienced growth in exports, with 16,710 units exported in September 2023, compared to 12,290 units in September 2022.
India is currently entering the peak festive season, where the country’s annual Festival of Lights, or Diwali, is scheduled for November 10-14, 2023. During this time, companies hold massive sales and employees receive their annual bonuses, significantly increasing their purchasing power. As such, Hero MotoCorp anticipates even higher demand for October and November 2023. Additionally, Hero MotoCorp is also gearing up for the launch of several new models in the coming months, so stay tuned for that.
