Hero MotoCorp sales grow 8%, registers 40.58 lakh sales in April-December

Hero MotoCorp recorded more than 40.58 lakh sales in the first three quarters of FY23 (April to December), the company said on Monday. This amounts to a growth of 8 per cent over the corresponding period in the previous fiscal FY22, when it had sold 37.55 lakh units. 

The company stated that it dispatched 3,94,179 units of motorcycles and scooters in December. 

However, when it came to month-wise performance, motorcycle sales in December 2022’s 356,749 dipped from December 2021’s 376,862. The trend was in reverse when it came to scooter sales. December 2022 saw 37,430 in sales, while December 2021 had seen 17,911 units sold. 

Total scooters and motorcycles sales in December 2022 was 394,179, while in December 2021 it was 394,773, translating to a slight dip. 

Exports also dipped in December 2022 against December 2021. Hero MotoCorp exported 12,814 units in December while it exported 20,288 in December 2021.  

The two-wheeler company said that the upcoming marriage and festival season in many parts of the country and the improving consumer sentiments due to favorable macro-economic indicators is likely to pick up momentum from the fourth quarter. 

Meanwhile, Hero MotoCorp increased prices of its motorcycles and scooters from December 1. The company increased prices up to Rs 1,500 but the exact quantum varied by models and markets. It said that the upward revision has come due to "overall inflationary costs". Hero MotoCorp said that it will continue to provide innovative financing solutions in order to cushion the impact on customers. 

Also read: Hero MotoCorp announces price hike of up to Rs 1,500 from Dec 1