Hero MotoCorp reported YoY and YTD growth in November 2023 even as its total sales dipped on a MoM basis
Hero MotoCorp, the country’s largest two wheeler manufacturer, has seen good sales across its motorcycle and scooter segments in November 2023. The company is also optimistic of sales boost in the month ahead with positive buyer sentiments more specifically during the ongoing wedding season. The company has reported positive sales both on a year-on-year(YoY) and year-to-date (YTD) basis even as its month-on-month (MoM) performance dipped significantly.
Hero MotoCorp YoY Sales November 2023
Hero MotoCorp sales (motorcycle + scooter) (domestic + exports) improved by 25.61 percent YoY in November 2023 to 4,91,050 units up from 3,90,932 units sold in November 2022. This was a volume growth of 1,00,118 units. Improvement was seen both across motorcycle and scooter segments and where the company’s domestic sales and exports were concerned.
Motorcycle sales grew by 25.07 percent YoY to 4,41,276 units last month, up from 3,52,834 units sold in November 2023. It has a volume growth of 88,442 units while motorcycles command an 89.86 percent share. Scooter sales also improved by 30.65 percent YoY to 49,774 units, up from 38,098 units sold in November 2022 to garner a 10.14 percent share.
Domestic sales saw an improvement of 25.39 percent YoY to 4,76,286 units in November 2023 from 3,79,839 units sold in the same month last year while exports also saw a 33.09 percent YoY growth from 11,093 units shipped in November 2022 to 14,764 units in the past month.
Hero MotoCorp MoM Sales November 2023
Hero MotoCorp saw lower MoM sales last month even as its scooter sales grew significantly. It was a 14.59 percent MoM de-growth from 5,74,930 units sold in October 2023 down to 4,91,050 units in November 2023. Motorcycle sales fell by 16.64 percent from 5,29,341 units sold in October 2023 while scooter sales grew by 9.18 percent MoM from 45,589 units in October 2023 to 49,774 units in the past month.
Sales in domestic markets dipped by 14.91 percent to 4,76,286 units in November 2023 from 5,59,766 units sold in October 2023. Exports also suffered a de-growth by 2.64 percent from 15,164 units shipped in October 2023 down to 14,764 units.
YTD Sales April-November 2023
The period Apr-Nov 2023 showed positive sales for Hero MotoCorp in domestic markets while exports suffered a setback. Total sales grew by 4.67 percent to 38,35,080 units, up from 36,63,875 units sold in the Apr-Nov 2022 period. This was a volume growth of 1,71,205 units.
Motorcycle sales were up 3.79 percent to 35,40,305 units in Apr-Nov 2023 from 34,11,019 units sold in Apr-Nov 2022 while commanding a 92.31 percent share. Scooter sales saw an even higher percentage growth at 16.58 percent to 2,94,775 units in Apr-Nov 2023 from 2,52,856 units sold in the same period last year. Domestic sales were up 5.01 percent to 37,17,242 units, from 35,39,944 units sold in the 2022 period while exports fell 4.92 percent to 1,17,838 units in Apr-Nov 2023 from 1,23,931 units sold in Apr-Nov 2022.
