Hero MotoCorp Sales Sept 2024

Hero MotoCorp witnessed strong demand for its 100cc and 125cc motorcycle lineup as well as for models in its premium segment

With a positive sentiment across the industry in view of the upcoming festive season, Hero MotoCorp sales increased by 19% to 6,37,050 units in September 2024. Healthy bookings continue and special offers and festive discounts are expected to attract even more buyer’s attention. Hero MotoCorp share price at the end of trading day on 1st Oct 2024 was at Rs 5,765, about 1% up on the NSE.

Hero MotoCorp – YoY and MoM Sales Sept 2024

Hero MotoCorp total sales in Sept 2024, that included both domestic sales and exports, stood at 6,37,050 units. This was an 18.74% YoY growth over 5,36,499 units sold in Sept 2023, which related to a 1,00,551 unit volume increase. On a MoM basis, sales improved by 24.34% as compared to 5,12,360 units sold in August 2024

Motorcycle sales improved by 20.89% to 5,97,529 units, up from 4,94,270 units sold in Sept 2024 while on a MoM basis, sales growth stood at 24.95% over 4,78,215 units sold in Aug 2024. Share of motorcycles too improved to 93.80% over 93.34% held in Aug 2024. Scooter sales on the other hand dipped by 6.41% YoY to 39,521 units. This was a 2,708 unit volume decline over 42,229 units sold in Sept 2023. However, MoM sales ended on a positive note with a 15.74% improvement over 34,145 units sold in Aug 2024. Scooters command a 6.20% share in the company portfolio.

This took total domestic sales to 6,16,706 units in Sept 2024, an 18.65% growth over 5,19,789 units sold in Sept 2023. Exports also saw remarkable growth at 21.75% from 16,710 units shipped in Sept 2023 to 20,344 units exported last month. MoM exports grew albeit marginally by 1.23% over 20,097 units exported in Aug 2024.

Hero MotoCorp – Q3 2024 and YTD Sales Growth

Hero MotoCorp has seen this positive trend both in terms of Q3 2024 sales and YTD performance. Once again it was the company’s motorcycle range that drew more attention as compared to its scooter lineup. Q3 2024 sales were up 7.28% to 15,19,684 units in the past 3 month period over 14,16,526 units sold in the corresponding period of 2023. It related to a 1,03,158 unit volume growth.

Motorcycle sales saw an 8.35% growth to 14,16,134 units to command a 93.19% share while scooter sales declined by 5.41% to 1,03,550 units as compared to 1,09,478 units sold in the Q3 2023 period. Total domestic sales were up 6.77% to 14,56,304 units in Q3 2024 while exports surged 20.15% to 63,180 units during the same period.

Taking into account the period April-Sept 2024, Hero MotoCorp accounted for total sales of 30,54,840 units which was a 10.32% growth over 27,69,100 units sold in the same period of 2023. Motorcycle sales grew by 11.18% to 28,57,090 units up from 25,69,688 units relating to a volume increase of 2,87,402 units.

Scooter sales on the other hand dipped by 0.83% to 1,97,750 units in the April-Sept 2024 period over 1,99,412 units sold in the same period last year. Domestic sales were at 29,40,666 units while exports stood at 1,41,174 units as compared to 87,910 units shipped in the April-Sept 2023 period relating to a 9.68% and 29.88% growth respectively.

Recent Updates From Hero MotoCorp

Last month, the company introduced Hero Xtreme 160R 2V 2024 Edition. It comes in at affordable pricing and sure to capture some decent attention in its segment. Scooter sales are set to improve with the new Hero Xoom 125R currently on test in what appears to be a production ready format. Last month, Hero also launched the new Destini 125 scooter.