Hero MotoCorp Records Impressive 25% Surge in Domestic Two-Wheeler Sales for November 2023

Hero MotoCorp achieved a notable milestone in November 2023, recording cumulative sales of 491,050 units, marking a substantial 25.61% year-on-year increase. Here are the key highlights from Hero MotoCorp’s performance during the month:

Highlights

  • The total sales volume for November 2023 reached 4.91 lakh units.
  • Motorcycle sales experienced a significant boost of 25%, while scooter sales surged by nearly 31%.
  • Hero witnessed its highest-ever festive sales during the auspicious period between Navratri and Bhai Dooj.

Breaking down the figures, Hero MotoCorp reported domestic sales of 476,286 units in November 2023, reflecting a robust year-on-year growth of 25.39% compared to the same month in 2022, where 379,839 units were sold. This impressive performance was attributed to a thriving festive season, with expectations of sustained growth driven by the ongoing marriage season and positive consumer sentiment.

Within the cumulative sales figure, motorcycle sales reached 441,276 units, indicating a notable 25.07% increase over the same period last year. Scooter sales also showed remarkable growth, standing at 49,774 units and marking a 30.65% annual increase.

Despite the overall positive trend, month-on-month domestic volumes experienced a slight dip of 14.47% compared to October 2023, where 556,894 units were sold.

Hero MotoCorp’s export sales demonstrated promising growth, reaching 14,764 units, a notable 33.09% increase compared to November 2022. Year-to-date volumes for April to November in FY2024 stood at 38,35,080 units, showcasing steady growth at 4.67% compared to the same period in FY2023.

Additionally, Hero MotoCorp made a significant impact at the Milan Motorcycle Show (EICMA 2023) in November. The event featured unveilings of new products, including the near-production Hero Xoom 125R and Xoom 160 scooters. The Concept 2.5R XTunt provided a sneak peek into a new quarter-litre street-naked bike, while the Vida V1 Pro and V1 Coupe were introduced for the European market. Notably, Hero’s dirt bike concepts, Vida Lynx and Acro, garnered considerable attention during the event.

Q1: What were Hero MotoCorp’s cumulative sales for November 2023?

Hero MotoCorp’s cumulative sales for November 2023 reached 491,050 units.

Q2: What was the year-on-year growth in sales for Hero MotoCorp in November 2023?

Hero MotoCorp witnessed a substantial 25.61% increase in sales compared to November of the previous year.

Q3: How did motorcycle and scooter sales contribute to Hero MotoCorp’s performance in November 2023?

 Motorcycle sales grew by 25%, while scooter sales experienced a remarkable increase of nearly 31% during the same period.

Q4: What factors were attributed to the strong sales performance of Hero MotoCorp in November 2023?

Hero MotoCorp credited the strong sales to a robust festive season and anticipated continued growth supported by the ongoing marriage season and positive consumer sentiment.

Q5: What were Hero MotoCorp’s domestic sales figures for November 2023, and how did they compare to the previous year?

Hero MotoCorp sold 476,286 units domestically in November 2023, reflecting a significant year-on-year growth of 25.39% compared to November 2022.

Q6: Did Hero MotoCorp experience any month-on-month fluctuations in domestic volumes in November 2023?

Yes, there was a month-on-month decrease of 14.47% in domestic volumes compared to October 2023.

Q7: How did Hero MotoCorp’s export sales perform in November 2023?

Hero MotoCorp’s export sales showed promising growth, reaching 14,764 units, indicating a notable 33.09% increase compared to November 2022.

Q8: What new products did Hero MotoCorp unveil at the Milan Motorcycle Show (EICMA 2023) in November?

Hero MotoCorp unveiled several new products, including the near-production Hero Xoom 125R and Xoom 160 scooters, the Concept 2.5R XTunt, and the Vida V1 Pro and V1 Coupe for the European market. The Vida Lynx and Acro dirt bike concepts also gained attention.

Q9: How did Hero MotoCorp perform in terms of year-to-date volumes for April to November in FY2024?

 Hero MotoCorp’s year-to-date volumes for April to November in FY2024 stood at 38,35,080 units, representing steady growth of 4.67% compared to the same period in FY2023.

Q10: What was the highlight of Hero MotoCorp’s festive sales in November 2023?

 Hero MotoCorp recorded its highest-ever festive sales with over 14 lakh units sold during the 32-day auspicious period between Navratri and Bhai Dooj.

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