Hero MotoCorp sales dip over 4% YoY; exports surge 67% in May

In a press statement, Hero MotoCorp emphasised its focus on the premiumization of its product portfolio and ramping up production of the Xtreme 125R to meet continued unprecedented demand.

Hero MotoCorp reported sales of 4.98 lakh units of motorcycles and scooters in May 2024, marking a 4.1 percent decrease from the 5.19 lakh units sold in May 2023. Despite this decline, the company saw a 12.6 percent growth in the first two months (April-May 2024) of the financial year 2025, with 10.31 lakh units sold compared to 9.15 lakh units during the same period last year.

In the motorcycle segment, Hero MotoCorp sold 4.71 lakh units in May 2024, down 3.7 percent from 4.89 lakh units in May 2023. The scooters segment experienced a nearly 11 percent dip, with 26,937 units sold in May 2024 compared to 30,138 units in the previous year. Domestic sales also saw a decline of nearly 5.7 percent, with 4.79 lakh units sold versus 5.08 lakh units year-on-year. However, exports surged by 67 percent, with 18,673 units sold compared to 11,165 units in May 2023.

In a press statement, Hero MotoCorp emphasised its focus on the premiumization of its product portfolio and ramping up production of the Xtreme 125R to meet continued unprecedented demand. "Hero MotoCorp registered a healthy growth in its export volumes during the month and continues to see increased demand for the VIDA V1 electric scooter. The company is gearing up for an energetic upcoming period with a slew of product launches and business expansions," the statement added.

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The world's leading two-wheeler company reported robust Q4 results, prompting brokerages to maintain a bullish outlook due to positive growth prospects. During the quarter, Hero MotoCorp saw an 18.4% increase in net profit, reaching Rs 1,016 crore, driven by robust volume growth, a diverse product mix, decreasing commodity expenses, and increased average selling prices (ASPs). Revenue also increased by 14.6%, reaching Rs 9,519 crore in Q4 FY24 compared to Rs 8,307 crore in the same period the previous year.

Hero MotoCorp, known for popular models like Splendor Plus, HF Deluxe, Passion Plus, and Pleasure Plus, continues to strengthen its market position with a strategic focus on product diversification and expansion.