Two-Wheeler Sales June 2023: Hero MotoCorp Sales Slide 9.8%

Hero MotoCorp reported cumulative sales of 4,36,993 units in the month of June 2023 – a 9.8 per cent decline year-on-year. Cumulative sales for June 2022 stood at 4,84,867 units. The company posted a decline in sales across the board with sales shrinking in the domestic market as well as exports. Domestic sales for the month stood at 4,22,757 units – down 8.7 per cent year-on-year from 4,63,210 units. Exports meanwhile shrunk from 21,657 units last year to 14,236 units.

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Sales were also down 15.8 per cent as compared to May 2023. The two-wheeler manufacturer had reported cumulative sales of 5,19,474 units in the month.

Hero updated multiple models in June 2023, including the Passion+.

In the motorcycle segment, Hero reported cumulative sales of 4,04,474 units in the month – down from 4,61,421 units year-on-year. Scooter sales, however, improved as compared to June 2022 at 32,519 units – up from 23,446 units.

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Year-to-date figures for FY2024 were also down as compared to the previous financial year. Cumulative sales stood at 13,52,574 – down from 13,90,193 units last year. Motorcycle sales were also down year on year at 12,62,640 units though scooter sales were up at 89,934 units as against 83,899 units.

Company also unveiled the jointly-developed Harley-Davidson X440 last month.

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Hero said it is confident that demand for two-wheelers could see growth in the coming months particularly near the festive season. The company also had a relatively busy June 2023 as it updated a slew of models such as the HF Deluxe and Passion+ as well as the Xtreme 160R. The company also unveiled the first model jointly developed with Harley-Davidson, the new X440, which will be launched today, on July 3.