Hero MotoCorp announced that its 2024 sales increased by 7.5%, from 5.4 million to 5.9 million units. However, compared to the same period the previous year, the company’s December sales decreased 17.5% to 324,906 units.
Hero MotoCorp shipped 294,152 units to the domestic market in December, down from 377,842 units in the same month the previous year. Positively, exports increased from 16,110 units the year before to 30,754 units. The overall decline in sales from 393,952 units in December 2023 to 324,906 units in December 2024 was partially explained by this increase in exports.
Hero MotoCorp Sales Performance:
Sales of motorcycles and scooters declined 16% and 33%, respectively, in December compared to the same month the year before, to 298,516 and 26,390 units, respectively. However, because to the introduction of eight new models and its increased presence in countries like Nepal, Brazil, Southeast Asia, and the Philippines, the company saw a robust 49% increase in exports over the course of the calendar year.
Millions of consumers nationwide have made Hero their go-to brand thanks to growth in a number of areas, including the company’s core products, the 125cc motorbike market, and the growing electric mobility portfolio was stated by Niranjan Gupta, Chief Executive Officer (CEO), Hero MotoCorp Ltd. Hero sold over 46,662 VIDA V1 e-scooters in 2024 as part of its attempts to electrify its two-wheeler inventory, a notable rise from about 11,134 units sold during the same period the previous year. In addition, the company expanded its VIDA V1 range by launching the VIDA V2 in early December.
Hero is eager to increase both its ICE and EV portfolio by 2025, according to Niranjan Gupta. In order to introduce new items, the company extended its collaboration with the American brand Harley-Davidson in December. The partners will introduce new Harley-Davidson X440 trims and collaborate on the creation of a whole new motorbike as part of this enlarged partnership.
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