Hero MotoCorp heralded in several new and upcoming models at the EICMA Show 2024 all of which are soon to be launched in India
Hero MotoCorp, the largest motorcycle maker, has seen its sales decline significantly in November 2024. Sales fell by 6.36% on a YoY basis to 4,59,805 units. This was a 31,245 unit volume decline over 4,91,050 units sold in Nov 2023. MoM sales also suffered a 32.29% setback when compared to 6,79,091 units sold in Oct 2024. This related to an even higher dip in volumes by 2,19,286 units.
A new model lineup with the Hero Xpulse 210, Karizma 250, Xtreme 250 and Vida Z all showcased at the 2024 EICMA Show in Milan, the company expects to see improved customer sentiments in the coming months. The company plans to strengthen its premium and scooter portfolio with new models across both in the ICE and EV segments. The company also released sketches of Hero Surge S32 Convertible Electric Scooter / Rickshaw with launch sometime in 2025.
Hero YoY Vs MoM Sales Nov 2024
In Nov 2024, Hero MotoCorp saw its motorcycle sales decline by 3.49% to 4,25,856 units. This was significantly lower by 15,420 units over 4,41,276 unit sales of Nov 2023. Motorcycles currently command a 92.62% share. MoM sales of motorcycles also fell by 33.02% over 6,35,787 units sold in Oct 2024 relating to a 2,09,931 unit volume decline.
Lower YoY and MoM scooter sales have also been reported. Scooter sales dipped to 33,949 units in Nov 2024, down by 31.79% over 49,774 units sold in the same month last year. MoM sales suffered a 21.60% setback when compared to 43,304 units sold in Oct 2024.
In Nov 2024, while domestic sales dipped by 7.67% YoY and 33.10% MoM to 4,39,777 units, Hero MotoCorp reported a 35.65% improvement in its YoY export figures. Exports went up to 20,028 units in Nov 2024 from 14,764 units shipped in Nov 2023. Exports however, fell by 7.65% MoM over 21,688 units exported in Oct 2024.
Hero YTD Sales Nov 2024
Hero MotoCorp has seen outstanding sales growth during the period April to November 2024. There were a total of 41,93,736 units sold during this period which included both motorcycles and scooters sold in domestic and global markets. This was a 9.35% increase over 38,35,080 units sold in the same period last year relating to a volume increase of 3,58,656 units.
Taking a breakup of motorcycle and scooter sales sold by the company in domestic markets, there were 39,18,733 motorcycles sold in the FY25 period. This was a 10.69% YTD increase from 35,40,305 units sold in FY24. It resulted in a volume increase of 3,78,428 units.
Scooter sales on the other hand suffered a 6.71% YTD decline in demand. Scooter sales fell to 2,75,003 units in the FY25 period from 2,94,775 unit sales in FY24. However, despite these lower sales Hero MotoCorp experienced an 8.62% rise in domestic demand during the April to Nov 2024 period to 40,37,846 units, up from 37,17,242 unit sales in the same 8 month period of the past year. Exports grew even more markedly by 32.29% to 1,55,890 units in FY25 from 1,17,838 units of FY24.
