Splendor, HF Deluxe and More Help Hero MotoCorp Post 15% YoY Sales Growth in June

In June 2024, Hero MotoCorp sold over 5.03 lakh bikes and scooters, a 15.20 percent increase over sales of 4.37 lakh units in the same month the previous year. Sales of the company's scooters decreased 7.06 percent to 30,220 units in June 2024 compared to June 2023, while sales of motorcycles increased by 17 percent to more than 4.73 lakh units. Motorcycle and scooter sales in the domestic market during the period in question totalled over 4.91 lakh units, up 16.24 percent YoY, while exports of the same were 12,032 units, down 15.48 percent YoY. The brand's total sales for the quarter that ended last month increased by 13.5 percent to 15.35 lakh units, up from 13.52 lakh units sold during the same period the previous year.

Also Read: Hero MotoCorp to Hike Prices of Select Models from July 1 in India

Hero MotoCorp to Hike Prices of Select Models

Meanwhile, the bikemaker has announced that it will hike the price of select models from July 1. Hero claims that the price hike will be up to Rs 1,500; however, the exact figure will depend on the market and model. The company has attributed the price rise to several reasons, including product competitiveness, price positioning, greater input costs related to inflation, and other considerations, though it has not yet disclosed specifics of the models impacted. The latest price increase comes after two earlier hikes in July 2023 and October 2023. The manufacturer implemented a 1.5 percent price increase in July last year, followed by a 1 percent hike in October.

Also Read: Hero Xtreme 125R vs TVS Raider 125 Comparison Review: Frugal Fun

Other Recent Developments

Hero MotoCorp claimed that it will broaden its EV range with more models in the mid and mass segments this fiscal year. Due to the company's expansion of operations in Nepal, growth in Colombia & Mexico, and greater market penetration in Turkey, its worldwide sales during Q1 FY25 showed an impressive growth of 44 percent. The operations of Hero MotoCorp include the production and marketing of motorised two-wheelers, replacement parts, and associated services. With a strong hold on the domestic market, the company is a top producer of two-wheeler models.

Hero's motorcycle line comprises the Mavrick 440, Xtreme 160R, HF 100, HF Deluxe, Splendor+, Splendor+ XTEC, Passion XTEC, Glamour, Xtreme 200S 4V, Xpulse 200 4V, and the Karizma XMR, whereas the scooter range includes the Pleasure+ XTEC, Xoom, Destini Prime, and Destini 125 XTEC.