Hero MotoCorp stuns with record-high sales in FY23
Delhi : The largest motorbike and scooter manufacturer in the world, Hero MotoCorp, reported a 15% YoY increase in sales in March 2023. In comparison to the 4,50,154 units sold in March 2022, sales in March 2023 totaled 5,19,342 units.
In the fiscal year 2023, Hero MotoCorp surpasses 5.3 million (53 lakh) sales
The corporation closed FY 2022–23 on a strong note, riding high on its recent record of rising revenues. 53,28,546 units were sold between April and March 2023. This was an increase of 8% over the 49,44,150 units sold in FY 2021–2022. When compared to the total domestic + export sales of 3,94,460 units in February 2023, the MoM sales growth was 31.66 percent.
When motorcycle and scooter sales are taken into consideration separately, motorcycle sales increased from 4,25,721 units sold in March 2022 to 4,85,896 units sold in March 2023. On a YTD basis for FY23, motorbike sales increased from 46,27,765 units sold in FY 2021–22 to 49,59,156 units.
With 33,446 units sold in March 2023 compared to 24,433 units sold in March 2022, scooter sales also experienced exceptional growth. 3,69,390 units have been sold so far in FY 23 compared to 3,16,385 units so far in FY 22. Sales in the scooter market were boosted by the freshly released Xoom 110 cc scooter.
In March 2023, there were 5,19,342 units sold in total, of which 5,02,730 were sold domestically and 16,612 were exported.
This contrasted with the 4,15,764 units sold in domestic markets and the 34,390 units exported in March 2022, which indicated a decline in export growth. Exports for YTD FT23 decreased from 3,00,624 units exported in YTD FY 22 to 1,72,753 units.
Achievements of Hero MotoCorp for FY 2023
Hero also made a foray into the electric two-wheeler market late last year with the launch of the Hero Vida V1 electric scooter, which retails for Rs. 1.45 lakh and has a 165-kilometer range. LX and ZX, two models of the Hero Xoom, are available for Rs 68,599 and Rs 76,699, respectively (ex-showroom).
The new Xoom scooter and Vida V1 electric two-wheeler have both just been released.
Also, the business has installed over 300 charging stations at 50 different places in the cities of Delhi, Jaipur, and Bangalore. New and enhanced Splendor and Passion models, the Super Splendor XTEC, the XPulse 200T, and the XPulse 200 4V Rally Edition were added to the company's lineup.
The Canvas Black Edition for Super Splendor and the Stealth 2.0 Edition for Xtreme 160R were both released during the previous fiscal year. In order to offer a higher-end selection of motorcycles and more powerful engines, Hero MotoCorp formed an association with Zero Motorcycles of California, USA. Hero MotoCorp made its entrance into South East Asia through a partnership with Terrafirma Motors Corporation and is getting ready to introduce its goods in the Philippines.
