Two Wheeler Sales in March 2023 | Hero Motor Cup with 15 Percent and Royal Enfield with 6.7 Percent Growth

Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, has reported a significant year-on-year (YoY) growth in sales for March 2023. The company sold 5,19,342 units in March 2023, a 15% increase from 4,50,154 units sold in March 2022.

The sales growth momentum has been instrumental in Hero MotoCorp ending FY 2022-23 on a high note, with sales of 53,28,546 units from April 2022 to March 2023, marking an 8% growth over the previous year's sales of 49,44,150 units. In February 2023, the company sold 3,94,460 units, indicating a remarkable month-on-month (MoM) sales growth of 31.66%.

Breaking down the sales figures between motorcycles and scooters, the company sold 4,85,896 motorcycles in March 2023, up from 4,25,721 motorcycles sold in March 2022. On a year-to-date (YTD) FY23 basis, motorcycle sales reached 49,59,156 units, as compared to 46,27,765 units sold in FY 2021-22.

The sales figures for scooters were equally impressive, with 33,446 units sold in March 2023, representing a significant increase from 24,433 units sold in March 2022. Year-to-date (YTD) FY 23 scooter sales were also strong, with 3,69,390 units sold compared to 3,16,385 units sold in YTD FY 22. The launch of the Xoom 110 cc scooter played a crucial role in driving sales in the scooter segment.

Out of the total sales of 5,19,342 units in March 2023, domestic sales accounted for 5,02,730 units, while the remaining 16,612 units were exported. In comparison, 4,15,764 units were sold domestically in March 2022, with 34,390 units exported. However, there was a decline in export sales in March 2023 compared to the same month in the previous year. YTD FY23 exports were also lower at 1,72,753 units as compared to 3,00,624 units shipped in YTD FY 22.

Overall, the strong domestic sales growth of Hero MotoCorp's scooters, driven by the Xoom 110 cc model, contributed to the company's impressive overall sales growth in March 2023, and the entire fiscal year. Despite the decline in export sales, the company's continued focus on the domestic market bodes well for its prospects.

Check out this Graphical Representation of Growth From the Last Year

Royal Enfield March 2023 Sales

In March 2023, Royal Enfield's domestic sales reached 59,884 units, a 2.41% YoY growth from the same month in 2022 when 58,477 units were sold. This accounted for volume growth of 1,407 units with an 82.90% share. However, there was a 7.06% de-growth in sales on an MoM basis compared to February 2023 when 64,436 units were sold.

Meanwhile, exports showed a significant increase of 34.25%, with 12,351 units sold in March 2023 as opposed to 9,200 units sold in March 2022. This accounted for a 17.10% share of Royal Enfield's overall sales. Exports also increased by 73.76% on an MoM basis, with 7,108 units shipped in February 2023.

For the entire fiscal year 2022-23, Royal Enfield achieved its highest-ever sales figure with 7,34,840 units sold in domestic markets. This represented a 40.98% growth over the previous fiscal year (FY 2021-22), when 5,21,263 units were sold, resulting in volume growth of 2,13,604 units.

In the financial year 2022-23, Royal Enfield's domestic sales accounted for 88.02 per cent of total sales, while exports made up 11.98 per cent of sales.

Exports saw a 23.48 per cent growth with sales of 1,00,055 units in FY 2022-23, up from 81,032 units in the previous financial year. In total, Royal Enfield sold 8,34,895 units (domestic + exports) in FY 2022-23, marking a volume growth of 2,32,627 units and the highest-ever overall sales in the company's history.

Looking ahead to FY2024, Royal Enfield is expected to surpass its sales record with multiple new launches planned in the coming year. The year 2023 already saw the launch of their flagship motorcycle, the Super Meteor 650 cruiser.