Hero MotoCorp, India’s leading two-wheeler manufacturer, reported an 18% year-on-year (YoY) increase in total October 2024 sales, reaching 6.79 lakh units. Despite the overall growth, the company saw a decline in scooter sales, which fell by 5% YoY to 43,304 units.
As of 9:41 am, the shares were trading 2.94% lower at ₹4,872.80 on the NSE.
October’s sales growth was primarily driven by demand for Hero’s popular 100cc and 125cc motorcycle models, boosted by the festive season and strong demand in both urban and rural areas. Motorcycle sales grew significantly, recording a 20.11% YoY increase to 6,35,787 units, making up 93.62% of Hero’s total sales for the month. In contrast, scooter sales, while down YoY, showed a 9.57% month-on-month (MoM) improvement from September’s 39,521 units.
Domestic sales rose by 17.44% YoY, reaching 6,57,403 units in October, while exports saw a remarkable 43.02% YoY growth, with 21,688 units shipped.
Year-to-date (YTD) performance also reflected strong growth, with total sales up 11.66% to 37.33 lakh units for FY25. This increase was driven mainly by motorcycle sales, which rose by 12.71% to 34.93 lakh units. However, scooter sales dipped slightly by 1.61% YTD, with 2.41 lakh units sold compared to 2.45 lakh units in the same period last year.
Hero MotoCorp is gearing up for the upcoming EICMA Show next week, where it plans to showcase new models including the Karizma XMR 250, Xtreme 250R, Xpulse 210, and a new variant of its Vida electric scooter.
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