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Hero MotoCorp April 2024 Sales sees 34% YoY and 8.8% MoM Growth
In April 2024, Hero, a leading two-wheeler manufacturer, showcased remarkable YoY growth in both domestic and export sales, driven by popular models like Splendor, Mavrick 440 and Pleasure Xtec.
Key Highlights:
- Hero showcased significant YoY growth of 34% in April 2024.
- Hero witnessed 8.8% MoM growth in April 2024 compared to March 2024.
- The company sold a total of 5,33,585 units in April 2024.
Hero, world's leading two-wheeler manufacturer brand, showcased a leading performance in April 2024 with significant year-on-year (YoY) growth in both domestic and export sales. On the other hand, there was a slight month-on-month (MoM) increase in total sales, thanks to the increase in domestic demand.
The company's motorcycle segment remained dominant, with major contributions from models such as Splendor, Glamour, and Passion. Additionally, the demand of new Mavrick 440 further helped Hero to keep its trajectory upward in April also.
Year-on-Year Sales Analysis:
Particulars | April’24 | April’23 | Difference | Growth% YoY |
Motorcycles | 4,96,542 | 3,68,830 | 1,27,712 | 34.63 |
Scooters | 37,043 | 27,277 | 9,766 | 35.80 |
Domestics | 5,13,296 | 3,86,184 | 1,27,112 | 32.91 |
Exports | 20,289 | 9,923 | 10,366 | 107.46 |
Total | 5,33,585 | 3,96,107 | 1,37,478 | 34.71 |
In April 2024, Hero MotoCorp witnessed a remarkable YoY growth across all sales categories. Motorcycle sales surged by 34.63%, reaching 4,96,542 units compared to 3,68,830 units in April 2023. Scooter sales increased by 35.80%, with 37,043 units sold compared to 27,277 units in April 2023.
Furthermore, Domestic sales grew by 32.91%, totaling 5,13,296 units compared to 3,86,184 units in April 2023. Exports sales increased by 107.46%, reaching 20,289 units compared to 9,923 units in April 2023.
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Month-on-Month Sales Analysis:
Particulars | April’24 | April’23 | Difference | Growth% YoY |
Motorcycles | 4,96,542 | 3,56,724 | 39,818 | 8.72 |
Scooters | 37,043 | 33,691 | 3,352 | 9.95 |
Domestics | 5,13,296 | 4,59,257 | 54,039 | 11.77 |
Exports | 20,289 | 31,158 | -10,869 | -34.88 |
Total | 5,33,585 | 4,90,415 | 43,170 | 8.80 |
The MoM performance of Hero has witnessed modest increase. Total sales grew by 8.80% compared to March 2024, with a volume growth of 43,170 units. Motorcycle sales increased by 8.72%, reaching 4,96,542 units compared to 4,56,724 units in March 2024. Scooter sales saw a 9.95% growth, with 37,043 units sold compared to 33,691 units in March 2024.
Furthermore, Domestic sales rose by 11.77%, totaling 5,13,296 units compared to 4,59,257 units in March 2024. On the other hand , exports experienced a decline of 34.88%, dropping from 31,158 units in March 2024 to 20,289 units in April 2024.
Model Performance and Future Launches
Hero experienced an increase in demand for its 125cc and 400+cc bikes, mostly because of Xtreme 125R, Splendor, Glamour, and Passion models also garnered significant attention, contributing to the overall sales growth. In April, Hero also launch a new sports variant for its Pleasure Xtec lineup, giving more freedom of choice to its buyers. The introduction of the Hero Mavrick 440 in April 2024 is still helping in expanding the sales profit of the company.
CarBike360 Says
Hero;s strong performance in April 2024 reflects its continued dominance in the two-wheeler market. While YoY sales showcased significant growth driven by both domestic and export markets, MoM performance indicates steady growth primarily fueled by domestic demand.
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