Hero Motocorp Registers 10% Surge in Sales for Feb'23

Hero MotoCorp has announced total sales figures for February 2023. The automaker sold 3,94,460 units last month, compared to 3,58,254 units in February 2022, representing a positive YoY growth of 10%. Sales of motorcycles increased to 3,71,854 units in Feb'23 from 3,38,454 units in the same month last year, denoting a 9.8% growth. Further, the automaker reported selling 22,606 units of scooters in February 2023, compared to 19,800 units at the same time the previous year, depicting a growth of 14%. In the exports segment, Hero MotoCorp has witnessed a decline. It shipped 12,143 two-wheelers in the last month compared to 26,792 units the previous year, representing a drop of 54%. Looking at the consistently rising buyers' interest in the vehicles, the company anticipates the positive trend to continue in the upcoming months.

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According to reports, Hero MotoCorp's best-selling motorcycles include the Splendor, HF Deluxe, Passion, Xpulse, and Xtreme, among others. Hero offers the Maestro, Destini, and brand-new Xoom and Vida electric vehicles in the scooter category. From 3,56,690 units sold in January 2023, Hero MotoCorp sales increased on an MoM basis by 10.59%. Exports increased 67.42% from the 7,252 units delivered in February 2023, while domestic sales increased by 9.41% from 3,49,437 units. MoM sales of motorbikes increased by 11.54%, while scooter sales declined by 1.93%.

Meanwhile, After Bengaluru and Jaipur, Hero MotoCorp has begun shipping its well-liked Vida V1 electric scooter to Delhi. At the National Capital, the company opened a brand-new experience centre where it would sell its first two electric scooters, the V1 Plus and the V1 Pro. Hero MotoCorp started collecting pre-orders for the Vida V1 range in November 2022. The national capital is the third location where the two-wheeler manufacturer has started delivering the electric scooter under the VIDA brand, following Bengaluru and Jaipur. The business said in a stock exchange filing that customers have responded well to the e-scooter. 

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The company, according to reports, will expand its sales and charging network in India and other international markets soon. It will also continue accelerating the switch to EVs through its "Worry-Free EV Ecosystem" of VIDA.