Hero MotoCorp is one of the most popular motorcycle manufacturers in India. The company recently made headlines due to its collaboration with Harley-Davidson for the launch of the X440, the smallest Harley-Davidson, and the only model with a single-cylinder engine in its current lineup. Indeed, Hero has been enjoying quite a lot of success in recent times, and shows no signs of slowing down.
India is one of the biggest motorcycle markets in the world, with millions of brand new motorcycles being sold every month. In terms of sheer volumes alone, Hero MotoCorp is one of the biggest motorcycle producers, not just in India, but all over the world. In September 2023 alone, Hero MotoCorp sold a total of 536,499 two-wheelers. This marks an impressive three-percent growth over the same period of 2022, wherein the brand sold 519,980 motorcycles. While three percent may seem like modest growth, it's evidence of continuous success even in a market that's already saturated.
In September 2023, Hero MotoCorp witnessed an increase in motorcycle sales, with a total of 494,270 units sold, marking a growth of 14,033 units compared to the 480,237 units sold in September 2022. Similarly, scooter sales showed year-on-year growth, reaching 42,229 units in September 2023 compared to 39,743 units in September 2022. The overall domestic sales for September 2023 reached 519,789 units, surpassing the 507,690 units sold in September 2022. Additionally, the company experienced growth in exports, with 16,710 units exported in September 2023, up from 12,290 units in September 2022.
India is currently heading into the peak festive season wherein the country's yearly Festival of Lights, or Diwali, is set from November 10 to 14, 2023. During this season, companies conduct massive sales, and employees are given their yearly bonuses significantly increasing their buying power. as such, Hero MotoCorp foresees even higher demand for October and November, 2023. To top it all off, Hero MotoCorp is also eyeing the launch of several new models in the coming months, so be sure to stay tuned for that.
