Hero MotoCorp, the leading two-wheeler manufacturer in India, announced a surprise growth of 25.39% year-on-year in domestic sales for November. In November 2022, the bike maker sold 379,839 units; Last month, they sold 476,286.
This remarkable result is explained by a strong holiday season, during which many automakers recorded double-digit growth. The bike maker’s total sales in November increased by 25.61% to 491,050 units as against 390,932 units sold in the same month last year.
Motorcycle, scooter sales achieves growth in domestic market
Motorcycle sales in November reached 441,276 units, up 25.07% from 352,834 units sold in the same month last year. There was also a significant increase in scooter sales, which increased by 30.65% year-on-year to reach 49,774 units sold last month, up from 38,098 units sold last year.
Hero MotoCorp expects this high demand to continue shortly due to favorable economic conditions, including the current wedding season and generally high consumer confidence.
Export performance, future models showcased at EICMA 2023
Hero MotoCorp exported 14,764 units in November 2022, a growth of 33.09% year-on-year. In November 2022, the company had exported 11,093 units. For the bike maker, November was vital as it unveiled new models like the Concept 2.5R XTunt, Xoom 125R, Xoom 160, Vida Linx, and Acro Idea at the EICMA 2023. Also announced the launch of VIDA V1 Pro and V1 Coupe electric scooters. In Europe, it recorded its best-ever sales in the recent holiday season, with over 1.4 million units sold.
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