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Hero MotoCorp records 25% y-o-y growth in November sales to 4.91 lakh units

4 Dec 2023 , 12:33 PM

In November 2023, Hero MotoCorp, the country's leading two-wheeler manufacturer, saw strong sales across its motorbike and scooter sectors. 

In November 2023, Hero MotoCorp sales (motorbike + scooter) (domestic + exports) increased by 25.61% year-on-year to 4,91,050 units, up from 3,90,932 units sold in November 2022. This represented a volume increase of 1,00,118 units. Improvements were evident in the motorcycle and scooter divisions, as well as in the company's domestic sales and exports.

Motorcycle sales increased by 25.07% year-on-year to 4,41,276 units in November 2023, up from 3,52,834 units in November 2022. It has grown by 88,442 units, with motorbikes accounting for 89.86% of the market. Scooter sales increased by 30.65% year-on-year to 49,774 units, up from 38,098 in November 2022, for a 10.14% share.

Domestic sales increased by 25.39% year-on-year to 4,76,286 units in November 2023, up from 3,79,839 units in the same month last year, while exports increased by 33.09% year-on-year, from 11,093 units sent in November 2022 to 14,764 units in the previous month.

Hero MotoCorp recorded reduced MoM sales last month, despite considerable growth in scooter sales. From 5,74,930 units sold in October 2023 to 4,91,050 units sold in November 2023, there was a 14.59% MoM de-growth.

Hero MotoCorp reported positive domestic sales for the April to November 2023 period, however exports experienced a setback. Total sales increased by 4.67% to 38,35,080 units, up from 36,63,875 units sold between April and November 2022.

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