Hero MotoCorp managed to show a 14 per cent increase in YoY sales in November 2020, although monthly figures show a downward decline
India’s largest two-wheeler manufacturer has managed to post extremely impressive sales figures once again. In November 2020, the company retailed a total of 5,75,957 units in the Indian market, which is a massive sales figure by any standards. This has resulted in a 13.83 per cent growth on a Year-on-Year (YoY) basis, with 5,05,994 units sold last year during the same period, i.e., in November 2019.
However, on a Month-on-Month (MoM) basis, the figures have shown a sharp decline. In October 2020, Hero’s domestic sales were ridiculously high, at 7,91,137 units. This has translated into an MoM sales drop of 27.20 per cent. This could be an indication that the post-lockdown buying rush is over, and Hero’s sales are now stabilising.
Hero MotoCorp also recorded an export figure of 15,134 units in November 2020, thus bringing the total dispatch figure to 5,91,091 units. In October 2020, the company had managed to export 15,711 units, which has resulted in an MoM de-growth of 3.67 per cent. However, compared to November 2019, when the exports figures were reported at 10,781 unit, this is a YoY increase of 40.38 per cent.
Currently, Hero MotoCorp’s largest sales are contributed by the rural audience, which is mostly interested in the low-capacity, entry-level commuter motorcycles. The company has plans to expand its lineup further, adding more premium motorcycles as well, mostly to attract the urban youth. The Xpulse 200, Xtreme 200S, and Xtreme 160R are the only motorcycles above 125cc in the manufacturer’s arsenal right now.
The Xpulse 200T and Xtreme 200R are expected to launch soon, and there’s speculation about an upcoming 400-450cc Adventure bike as well. Hero has always priced its products very competitively, and thus we expect these upcoming motorcycles to be the same way.
Recently, Hero MotoCorp has partnered-up with Harley-Davidson, and will be responsible for the manufacturing as well as the distribution of its motorcycles in India. The complete transition of the latter’s assets to the former is expected to happen before the year ends. Harley’s brand will allow Hero to gain access to the premium end of the market.