Hero Motor's sales up y-o-y by 15% in June

2 Jul 2024 , 02:44 PM

In June 2024, the two-wheeler company sold 5,03,448 bikes and scooters, up 15.20% from 4,36,993 units in June 2023.

While the company’s motorcycle sales increased by 16.99% to 4,73,228 units, scooter sales fell 7.06% to 30,220 units in June 2024 compared to June 2023.

During the said period, domestic motorcycle and scooter sales totaled 4,91,416 units (up 16.24% YoY), while exports were 12,032 units (down 15.48% YoY).

For the quarter ended June 2024, the company’s total sales increased by 13.5% to 15.35 lakh units, compared to 13.52 lakh units sold the previous year.

Hero MotoCorp said that it will expand its EV range with additional vehicles in the mid and mass segments this fiscal year. The company’s global business sales climbed by 44% in Q1 FY25, owing to the expansion of its Nepal operations, growth in Colombia and Mexico, and increasing market penetration in Turkey.

Hero MotoCorp manufactures and sells motorised two-wheelers, spare parts, and related services. The company is a leading two-wheeler manufacturer with a strong presence in the domestic market.

In Q4 FY24, the automaker reported an 18.29% increase in standalone net profit to ₹1,016.05 Crore, with a 14.6% increase in revenue to ₹9,519.30 Crore compared to Q4 FY23.

At around 2.36 PM, Hero MotoCorp was trading 0.26% lower at ₹5,588.55 per piece, against the previous close of ₹5,603.10 on NSE. The counter touched an intraday high and low of ₹5,674, and ₹5,500 respectively.

On Monday, Hero MotoCorp, the world’s largest motorbike and scooter manufacturer, also announced the release of ‘The Centennial’, a limited edition collector’s motorcycle commemorating Dr Brijmohan Lall Munjal’s 101st birth anniversary.

Designed and developed by worldwide professionals at the Hero Centre for Innovation and Technology (CIT) in India and the Hero Tech Centre Germany (TCG), ‘The Centennial’ is designed to demonstrate Hero MotoCorp’s dedication to innovation and excellence. Only 100 units are precisely handcrafted, making this a true collector’s treasure.

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