Hero MotoCorp achieves record retail sales during the festival season, marking a 13% increase.
Hero MotoCorp, India's leading two-wheeler manufacturer, reported record retail sales of 1.6 million units during the 32-day festival period, reflecting a 13% increase from the previous year.
India's largest two-wheeler manufacturer, Hero MotoCorp, announced on Monday that it achieved its highest-ever retail sales during this year's 32-day peak festival period, with sales reaching 1.6 million units. This marks a 13% increase compared to last year's festive season.
Hero MotoCorp's CEO, Niranjan Gupta, noted, "We’ve seen strong momentum and growth across most regions, with rural sales catching up to urban demand in the latter half of the festive period."
The company highlighted that the 125cc motorcycle segment, particularly the Xtreme 125R, was a significant growth driver, while the 100cc segment also played a positive role in boosting overall sales.
Historically strong in the entry-level 100-110cc segment, Hero MotoCorp has faced challenges in the premium market due to limited offerings. However, the company is now concentrating on expanding its presence in the 125cc and premium segments.
To foster growth and increase market share in these categories, Hero MotoCorp is focusing on new model launches and the expansion of innovative store formats—Premia and Hero 2.0.
In FY24, the automaker launched the most products in its history, introducing several models in the premium and 125cc segments, including the Xtreme 125R, Xtreme 200S, Xtreme 160R 4V, Harley-Davidson X440, Karizma XMR, and Mavrick 440.
"We expect this momentum to continue and are optimistic about the rest of the year," Gupta stated.
Additionally, the retail sales of Hero MotoCorp's electric two-wheeler brand, Vida, reached 11,600 units, while sales of the Harley-Davidson X440 surpassed 2,800 units, indicating growing brand recognition and an expanding network for both products.
The company is committed to enhancing its electric vehicle portfolio under the Vida brand, planning to increase its offerings from two to four models this year. Among the new scooters, one is expected to target the affordable market, while the other will be in the mid-segment.
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