Hero MotoCorp witnesses massive growth of over 25% in November
Hero MotoCorp, India's largest two-wheeler manufacturer, reported a massive year-on-year growth of 25.39% in domestic sales for November. The bikemaker sold 476,286 units last month compared to 379,839 in November 2022. This impressive performance is attributed to a robust festive season, which saw several automakers registering double-digit growth. The cumulative sales for the bikemaker reached 491,050 units in November, marking a 25.61% increase from the 390,932 units sold in the same month last year.
Motorcycle, scooter sales saw healthy growth in domestic market
In November, motorcycle sales hit 441,276 units, a 25.07% increase from the 352,834 units sold in the same period last year. Scooter sales also saw a substantial rise, growing by 30.65% year-on-year with 49,774 units sold last month, compared to 38,098 units last year. Hero MotoCorp anticipates this strong demand to continue in the coming months, thanks to favorable economic factors such as the ongoing wedding season and overall positive consumer sentiment.
Export performance, future models showcased at EICMA 2023
Hero MotoCorp's exports for November stood at 14,764 units, a 33.09% annual growth compared to 11,093 units in November 2022. November was important for the bikemaker as it showcased forthcoming models at EICMA 2023, including the Concept 2.5R XTunt, Xoom 125R, Xoom 160, Vida Lynx, and Acro concepts. It also announced its entry into Europe with the VIDA V1 Pro and V1 Coupe electric scooters and achieved its highest-ever sales of over 14 lakh units during the recent festive period.
