Hero MotoCorp commenced deliveries of the Harley-Davidson X440 premium motorcycle during the Navratri festival
While the ongoing festive season added to company sales, a series of new product launches in the premium segment is set to steer Hero MotoCorp to new heights in terms of sales in the months ahead. Hero MotoCorp ended the month of October 2023 on a positive note with 5.74 lakh scooter and motorcycle sales relating to double-digit YoY growth of 26 percent.
Hero sales October 2023
The new Harley Davidson X440co-developed along with Harley-Davidson, which was re-opened for bookings and test rides has seen deliveries being effected during the month of October 2023. Since its launch, the company has received over 25,000 bookings. Having commenced deliveries of this premium motorcycle on the first day of Navratri festival, Hero MotoCorp delivered 1000 units across 100 dealerships in India.
Along with this, the company also inaugurated a new dealership called ‘Hero Premia’ in Calicut, Kerala. It is here that the company’s premium range – Karizma XMR, Vida V1 scooters and Harley-Davidson X440 will go on display.
Hero MotoCorp sales(motorcycles + scooters) (domestic sales + exports) in October 2023 stood at 5,74,930 units. This was a 26 percent growth over 4,54,582 units sold in October 2022. It was also a MoM growth over 5,36,499 units sold in September 2023. YTD sales also improved to 33,44,030 units in the April-October 2023 period from 32,72,943 units sold in the same period of 2022.
Ending the month with a positive note
Motorcycle sales grew to 5,29,341 units in October 2023, a YoY growth over 4,19,568 units sold in October 2022. It was also a YTD increase to 30,99,029 units during the April-October 2023 period when compared to 30,58,185 units sold in a year ago period.
Scooters also saw increased demand both on a YoY and YTD basis. Sales improved to 45,589 units in October 2023 from 35,014 units sold in October 2022 while on a YTD basis, scooter sales grew to 2,45,001 units from 214,758 sold during FY23.
Out of a total of 5,74,930 units sold in October 2023, domestic sales stood at 5,59,766 units while exports were at 15,164 units. This was significantly higher when compared to domestic sales of 4,42,825 unit and exports of 11,757 units in October 2022. YTD domestic sales also grew to 32,40,956 units in April-October 2023 from 31,60,105 units sold in October 2022 while exports fell to 1,03,074 units in the FY24 period as compared to 1,12,838 units shipped in FY23.
Hero MotoCorp Upcoming Launches
In October 2023, Hero MotoCorp was actively testing the new Xtreme 210 and Xpulse 210. The two models were spotted on test in the higher regions of Khardung La revealing several features. More recently, the company is also testing the new Hero Xpulse 440. It is expected to be launched in March 2024 and could be priced in a sub Rs 2 lakh range (ex-showroom).
