Hero MotoCorp achieves remarkable sales growth and expands global presence in June 2024
Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, recorded a significant 15% increase in sales in June 2024, selling 503,448 units. This growth is notable compared to the 436,993 units sold in the same month last year. In the domestic market alone, the company saw a 16% rise, selling 491,416 units this June against 422,757 units in June 2023.
For the first quarter of the fiscal year 2025, Hero MotoCorp’s total sales grew by 13.5% year-on-year, with 1,535,156 units sold compared to 1,352,574 units in the previous year. This impressive performance is partly due to the strong demand for models like the Xtreme 125 and the VIDA V1 electric scooter. Moreover, the company has been proactive in expanding its Hero Premia and Hero 2.0 store networks, enhancing customer experience significantly.
On the international front, Hero MotoCorp reported a robust 44% increase in its global business during the first quarter, driven by expansion in Nepal, Colombia, Mexico, and Turkey. The company also celebrated a significant sustainability milestone, achieving Zero-Waste-to-Landfill certification, which underscores its commitment to responsible manufacturing. The certification was obtained ahead of the 2025 target, with the company also reducing its overall waste generation by 40%.
In a notable partnership, Hero MotoCorp joined forces with the Indian army to commemorate the 25th anniversary of Operation Vijay during the Kargil War. This collaboration includes the D5 Motorcycle Expedition, featuring the Mavrick 440 and Xpulse 200 4V motorcycles. Additionally, Hero MotoSports Team Rally marked a significant achievement by finishing in the top five at the Desafio Ruta 40 rally, maintaining their lead in the World Championship.
In-Depth Sales Figures
In terms of specific sales numbers for June 2024:
– Motorcycles accounted for 473,228 units.
– Scooters contributed 30,220 units.
– The domestic market made up the bulk of sales with 491,416 units, while exports were 12,032 units.
The sustained growth in both domestic and international markets for Hero MotoCorp can be attributed to their strategic product diversification and expansion into the electric vehicle market, which meets the rising consumer demand for eco-friendly transportation options. The company’s aggressive expansion in global markets and its achievements in sustainable practices likely position it well for continued success in the upcoming years.