Hero MotoCorp Sells Over 4.68 Lakh Units February 2024, Clocks 19% YoY Total Sales Growth

Hero MotoCorp has reported a 19 per cent year-over-year growth in its overall sales for February 2024. The world's largest two-wheel manufacturer sold a total of 4,68,410 two-wheelers (motorcycles + scooters) last month, against 3,94,460 units in the year-ago period. Domestic sales grew 16.46 per cent to 4,45,257 units, while exports totalled 23,153 units – representing a massive growth of 90.67 per cent from 12,143 units despatched in the same month last year. 

Of total sales, motorcycles went past the 4.36 lakh unit mark, whereas 31,481 scooters were delivered during February 2024, representing 17.50 and 39.26 per cent year-over-year (YoY) growth, respectively. In terms of year-to-date (YTD), the company sold a total of 49,61,275 units in the domestic market in FY2024, posting an increase from 46,53,063 units sold in FY2023. Also, the export figures for FY2024 witnessed a jump, with sales going from 1,56,141 units to 1,69,765 units. As for the company's total sales, more than 51 lakh units (51,31,040, to be precise) were delivered, compared to 48,09,204 units in YTD 2022–23. 

All this is indicative of the 'continuously improving consumer sentiments'. The company says the trend is expected to continue in the coming months on the back of 'favourable economic indicators'. 

Hero MotoCorp's Recent Launches

In keeping with its plan to grow its market share in the premium range of motorcycles, Hero MotoCorp launched the Mavrick 440 in February this year. Priced from Rs 2.19 lakh to Rs 2.24 lakh (ex-showroom), the Mavrick 440 is the brand's first middleweight bike for India, and is built on the same platform as the Harley-Davidson X 440. While the bookings are underway, the customer deliveries will commence in April 2024. 

Powering the Mavrick 440 is a 440cc, single-cylinder, air/oil-cooled engine that gets a six-speed gearbox with a slip-and-assist clutch. While both the Hero Mavrick 440 and the Harley-Davidson X 440 use the same powertrain and are equally powerful (27bhp at 6,000rpm), the former produces 36Nm of peak torque at 4,000rpm, which is 2Nm lower than that of the latter (38Nm at 4,000rpm).

In its core segment, Hero's Xtreme 125R – launched in January 2024 – rivals the TVS Raider, the Bajaj Pulsar NS125, and the Honda SP125. Priced at Rs 95,000 (ex-showroom) for the standard and Rs 99,500 (ex-showroom) for the ABS version, the Xtreme 125R comes in three colour options. In terms of mechanicals, a 125cc air-cooled single-cylinder engine with 11.5bhp and 10.5Nm powers the bike. The engine is linked to a 5-speed transmission. The combination of a 37mm telescopic front fork and a preload-adjustable rear monoshock handle suspension duties, while a 276mm front disc and a rear drum brake make up the braking hardware, although only on the top variant. 

Hero 'Premia' Expansion Plans

Hero MotoCorp has a total of four Premia showrooms currently, which the company says will climb to 100 by the end of June 2024. The first such premium outlet was launched in Kerala in October 2023, housing Hero's range of premium two-wheelers, including the Xpulse 200 4V and the flagship Karizma XMR 210, along with the Harley-Davidson X440.