Hero MotoCorp Reports Sales With 574,930 Units Sold In October 2023, Marking 26% YoY Growth

Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, sold 574,930 units in the month of October 2023, the company on Wednesday announced through an exchange filing.

The Company registered a double-digit growth of 26 percent over the corresponding month of the previous fiscal when it sold 454,582 units in October 2022.

Category of Motorcycle

In the category of Motorcycles, Hero MotoCorp reported robust sales with 529,341 units sold in October 2023. Year-to-date figures for the fiscal year 2023-24 indicate that they have sold a total of 30,99,029 motorcycles, maintaining a strong position. In comparison, the previous fiscal year (2022-23) saw sales of 30,58,185 motorcycles during the same period.

For Scooters, Hero MotoCorp sold 45,589 units in October 2023. In the year-to-date performance for the fiscal year 2023-24, they have achieved sales of 2,45,001 scooters, showing consistent growth. This is notably higher than the sales of 2,14,758 scooters in the same period of the previous fiscal year.

Combined total for both Motorcycles and Scooters

The combined total for both Motorcycles and Scooters in October 2023 reached 5,74,930 units. Year-to-date figures for the fiscal year 2023-24 show a total of 33,44,030 units sold, reflecting a commendable performance. This continues to build on the success of the previous fiscal year, which saw total sales of 32,72,943 units during the same period.

Domestic sales

In terms of domestic sales, Hero MotoCorp sold 5,59,766 units in October 2023, solidifying their position in the Indian market. Year-to-date figures for the fiscal year 2023-24 show a total of 32,40,956 units sold in the domestic market. In comparison, the previous fiscal year (2022-23) saw sales of 31,60,105 units during the same period.

Exports

Exports for October 2023 reached 15,164 units, demonstrating the company's global reach. Year-to-date figures for the fiscal year 2023-24 show exports of 1,03,074 units, highlighting their international presence. In the previous fiscal year (2022-23), exports totaled 1,12,838 units during the same period.