Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, sold 536,499 units in the month of September 2023, the company announced through an exchange filing.
The Company registered a growth of more than 3 percent over the corresponding month of the previous fiscal when it sold 519,980 units in the month of September 2022.
As the country enters the peak festive season in the coming weeks, Hero MotoCorp expects the demand to be on a healthy trajectory, led by macro-economic factors.
September 2023 vs. September 2022
In September 2023, the total number of motorcycles sold reached 494,270, showing a slight increase from the previous year's figure of 480,237. Scooter sales also saw growth, with 42,229 units sold in September 2023, compared to 39,743 units in the same month of 2022. This reflects a positive trend in the scooter market.
Year-to-Date (YTD) FY'24 vs. YTD FY'23
The year-to-date figures for the fiscal year 2024 data shows, the motorcycle segment has seen a total of 2,569,688 units sold, compared to 2,638,618 units in the previous fiscal year.On the other hand, scooters have witnessed significant growth in YTD FY'24, with 199,412 units sold, compared to 179,743 units in the same period of FY'23
The combined figures for motorcycles and scooters, the total two-wheeler market in September 2023 stood at 536,499 units, showing an improvement from the previous year's 519,980 units. In the year-to-date FY'24, the overall two-wheeler market has reached 2,769,100 units, compared to 2,818,361 units in YTD FY'23.
Domestic and Export Sales
The majority of these sales are attributed to the domestic market, with 519,789 units sold in September 2023, compared to 507,690 units in the same month of 2022. However, export figures in September 2023, 16,710 units were exported, up from 12,290 units in September 2022. In YTD FY'24, exports have declined slightly, with 87,910 units shipped compared to 101,081 units in YTD FY'23.