Hero MotoCorp March sales rise 15% to 5,19,342 units, exports decline

Domestic sales last month stood at 5,02,730 units against 4,15,764 units in March 2022, registering a growth of 21 percent.

Two-wheeler maker Hero MotoCorp on April 1 reported a 15 percent rise in total sales at 5,19,342 units for March 2023 compared to 4,50,154 units in the same month last year.

Domestic sales last month stood at 5,02,730 units against 4,15,764 units in March 2022, registering a growth of 21 percent, Hero MotoCorp said in a statement.

Exports were, however, lower at 16,612 units against 34,390 units in the year-ago month. In 2022-23, the company sold 53,28,546 units against 49,44,150 units in 2021-22, up 8 percent.

Domestic sales in FY23 stood at 51,55,793 units compared to 46,43,526 units in FY22, a growth of 11 percent. Exports were lower at 1,72,753 units compared to 3,00,624 units in FY22, the company said.

Recently, the board of Hero MotoCorp appointed Niranjan Gupta as the new Chief Executive Officer (CEO) of the company, effective from May 1, 2023, elevating him from his current position as its Chief Financial Officer (CFO), Head - Strategy and M&A. Pawan Munjal will continue as Executive Chairman and whole-time Director on the Board.

Ushering in an era of sustainability and clean mobility, the company's new product VIDA V1 – Powered by Hero – the new age fully-integrated electric vehicle (EV) made its debut in FY’23. Deliveries of Vida V1 have already been commenced and the two-wheeler maker has already set up more than 300 charging stations across 50 locations in Delhi, Bengaluru and Jaipur for public use.

The last fiscal year also saw, Hero MotoCorp partnering with Zero Motorcycles, a US-based manufacturer of electric motorcycles and powertrains, to collaborate on premium electric motorcycles.

This collaboration will combine the expertise of Zero in developing power trains and electric motorcycles with our global scale & capabilities in manufacturing, sourcing and marketing to usher in the era of sustainable & clean technology in the mobility space, the company said.

Hero MotoCorp also announced its first foray into the South East Asian Market by forging a partnership with Terrafirma Motors Corporation (TMC), a part of the Columbian Group of Companies, to launch its products in the Philippines.