Hero MotoCorp Achieves Record 1.6 Million Festive Sales, Up 13% Year-on-Year

5 Nov 2024 , 01:58 PM

Hero MotoCorp reported record-breaking festive retail sales over a 32-day period starting from Navratri, with over 1.598 million units sold. Sales during this period marked a 13% growth compared to the same festive season in 2023.

Strong demand was observed across both urban and rural regions, with notable performance in the 125cc motorcycle segment, particularly the Xtreme 125R model.

The 100cc segment also contributed to the increased sales, highlighting broad-based demand across different engine capacities. This is the second consecutive year of record festive retail sales for Hero MotoCorp, according to CEO Niranjan Gupta.

Gupta noted a significant pickup in rural sales during the latter half of the festive season, expressing optimism for sustained growth throughout the year.

The company’s electric vehicle brand, VIDA, reported sales of 11,600 units during the festive period. Expansion of the VIDA network, utilizing Hero Premia and Hero 2.0 outlets with a focus on top 30 towns, is reportedly showing strong results.

The Harley-Davidson X440 model sold over 2,800 units; Hero MotoCorp plans to expand the Premia network to over 100 locations by the fiscal year’s end to enhance accessibility.

During Dhanteras, the company recorded double-digit growth, led by the 100cc and 125cc segments, marking its highest-ever sales for the occasion. October 2024 wholesales rose 18% YoY to 679,000 units, surpassing market projections; motorcycle sales were up 20% YoY, while scooter sales declined by 5%.