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Hero MotoCorp sells 13.9 lakh units in Q1FY23; Stock climbs 1%

4 Jul 2022 , 09:19 AM

Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters has sold 13.90 lakh units in the first quarter of the Financial Year (April-June) 2022-23. This is a robust double-digit growth of 35.7% over the corresponding quarter of the previous fiscal (FY’22), when the Company had sold 10.25 lakh units.

Sequentially, this translates into a growth of 17% over the last quarter of the fiscal year (January-March) 2021-2022, when the Company had sold 11.89 lakh units.

The growth in volumes indicate the continuously improving consumer sentiment and the company expects the positive trend to continue in the coming months, on the back of a decent monsoon, and encouraging farm activity.

With sales of 4.85 lakh units of motorcycles and scooters in June 2022, the Company registered a growth of 3.3% over the corresponding month of the previous fiscal when it sold 4.69 lakh units.

Further strengthening its global business operations, Hero MotoCorp introduced Euro-5 compliant variants of three new products — the XPulse 200 4V motorcycle and Dash 110 & Dash 125 scooters in Turkiye.

In the month of June, Hero MotoCorp introduced the new Passion ‘XTec’. The motorcycle is packed with features such as the First-in-Segment Projector LED Headlamp, Full-Digital Instrument Cluster with Bluetooth Connectivity, SMS and Call Alerts, Real-Time Mileage Indicator, Low-Fuel Indicator, Side-Stand Engine Cut-Off and Service Reminder.

The company also launched a new community-riding platform, XCLAN expanding the motorcycling culture in the country. The XCLAN platform is the first official Hero XPulse owners club that provides a stage for owners of the XPulse motorcycles to engage with each other, build their cohort, and develop camaraderie with budding and experienced riders.

At around 9:17 AM, Hero MotoCorp was trading at Rs2,789.15 per share up by Rs29.25 or 1.06% from its previous closing of Rs2,759.90 per share on the BSE.

Related Tags

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  • Hero MotoCorp Ltd announcement
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