Hero MotoCorp has registered a decline of 4.4% YoY while MoM decline stood at 6.65%
Indian motorcycle and scooter manufacturer, Hero MotoCorp, has recorded lackluster sales in May 2024. The company has seen sales dip both on YoY and MoM basis with falling sales across both motorcycles and scooters and where domestic sales are concerned. Exports on the other hand has shown off a significant YoY increase by 67.25% though exports dipped MoM.
Hero MotoCorp YoY Sales May 2024
Hero MotoCorp has recorded a 4.11% YoY growth selling 4,98,123 units in May 2024 as compared to 5,19,474 units sold in May of the previous year. Hero has also seen MoM sales dip by 6.65% over 5,33,585 units sold in April 2024.
With a total of 4,98,123 units sold in May 2024, motorcycles accounted for 4,71,186 units, a 3.71% YoY de-growth from 4,89,336 units sold in May 2023. Motorcycles command a 94.59% share in the company portfolio over a 5.41% share held by scooters of which sales stood at 26,937 units, also a 10.62% YoY decline.
Total domestic sales thus saw a 5.68% YoY decline to 4,79,450 units in the past month from 5,08,309 units sold in May 2023. However, there was a boost in terms of exports that ended May 2024 with an impressive sales tally of 18,673 units, a 67.25% improvement over 11,165 units shipped in May 2023.
Hero MotoCorp MoM Sales May 2024
On a month on month (MoM) basis as well, Hero MotoCorp saw declining sales in May 2024. Total sales dipped 6.65% MoM when compared to 5,33,585 units sold in April 2024 with sales de-growth across both motorcycles and scooters as well as where domestic sales and exports were concerned. Motorcycle sales fell by 5.11% from 4,96,542 units sold in April 2024 while scooter sales suffered a setback of 27.28% from 37,043 units. Total domestic sales dipped by 6.59% while exports fell by 7.96%.
Year-to-Date (YTD) Sales May 2024
Taking into account sales across the first two months (April-May 2024) of financial year FY 24-25, positive growth was seen at 12.68% over the same period of last year. Total sales (motorcycle + scooter and domestic + exports) improved to 10,31,708 units, a 1,16,127 unit volume growth over 9,15,581 units sold in the FY23-24 period.
Motorcycle sales grew by 12.77% to 9,67,728 units from 8,58,166 units to command a 93.80% share while scooter sales were up 11.43% growing from 57,415 units sold in FY23-24 period to 63,980 units during the months of April and May 2024. Domestic sales growth stood at 10.98% to a total of 9,92,746 units while exports were up 84.76% to 38,962 units shipped in the past two months.
As Hero MotoCorp has just launched the new Splendor+ XTEC 2.0 at the end of May 2024, Hero MotoCorp now plans a slew of new launches with the Hero Xoom 160 maxi style scooter which one launched will rival Yamaha’s Aerox 155. There is also the Xoom 125R premium scooter poised for launch.
