Hero MotoCorp ended December 2023 with YoY and MoM degrowth but posted increased YTD sales and 5% growth in CY 2023
Hero MotoCorp has witnessed rising sales during the past year. Increase in government spending, improved liquidity and the festive and marriage season boosted sales during the January to December 2023 period to 54.99 lakh units. This was a 5 percent growth over sales of 52.47 lakh units sold in the January to December 2022 period.
Hero MotoCorp Sales December 2023
In December 2023, Hero MotoCorp reported total sales (motorcycles + scooters / domestic + exports) down 0.06 percent YoY to 3,93,952 units as against 3,94,179 units sold in December 2022. This was a volume de-growth of 227 units. It was also a MoM de-growth of 19.77 percent from 4,91,050 units sold in November 2023.
Motorcycle sales dipped both YoY and MoM to 3,54,658 units in December 2023. This was a 0.59 percent YoY de-growth over 3,56,749 units sold in December 2023 with a 90.03 percent share. MoM sales however, fell more significantly by 19.63 percent from 4,41,276 units sold in November 2023, relating to a volume dip of 86,618 units.
Scooter sales on the other hand grew on a YoY basis by 4.98 percent to 39,294 units, up from 37,430 units sold in December 2022 to command a 9.97 percent share. MoM sales however, fell by 21.06 percent from 49,774 units sold in November 2023 when share percentage had stood at 10.14. This took total domestic sales down 0.92 percent YoY and 20.67 percent MoM to 3,77,842 units in December 2023. The company had sold 3,81,365 units and 4,76,286 units in December 2022 and November 2023 respectively.
Hero MotoCorp has seen encouraging export figures. There were a total of 16,110 units shipped in December 2023, up 25.72 percent from 12,814 units shipped in December 2022 relating to a 3,296 unit volume growth. MoM exports also increased by 9.12 percent from 14,764 units shipped in November 2023. The company’s export share grew by 3.01 percent in November 2023 to 4.09 percent in the past month.
Hero MotoCorp YTD Sales up 4.21%
Taking into account year-to-date sales (April-December 2023), Hero MotoCorp has reported a 4.21 percent increase to 42,29,032 units during the same period. This was a growth of 1,70,978 units over 40,58,054 units sold in the period April-December 2022. These figures included both domestic sales and exports. Here increased sales were reported for both motorcycles and scooters as well as for domestic sales while exports ended in the red.
Motorcycles sales were up 3.38 percent to 38,94,963 units in FY24 period as against 37,67,768 units sold in FY23. This related to a volume growth of 1,27,195 units. Scooter sales improved by 15.08 percent to 3,34,069 units in FY24 period from 2,90,286 units sold during the months of April-December 2022. This took total domestic sales up 4.43 percent to 40,95,084 units in FY24 over 39,21,309 units sold in FY23. Exports on the other hand dipped 2.05 percent to 1,33,948 units in the April-December 2023 period, down from 1,36,745 units sold in the same period last year.
In December 2023, Hero MotoCorp announced a tie up with Ather Energy to expand EV public charging infrastructure across 100 cities. There are also Ather and My VIDA apps, designed with user-centric interfaces while it will offer all the information needed to assist EV users.
