Hero MotoCorp, the largest two-wheeler manufacturer in India, hit the half-crore sales mark in FY 2022-23 with a 7.77% growth over the previous year
Hero MotoCorp is in no mood to slow down and this is well reflected in the sales figures for the FY 2022-23. Continuing its successful run in the Indian market, the company registered total sales of 53,28,546 units, which is a remarkable leap from the previous year’s figures. However, it is interesting to note that the exports have taken a hit this time around, registering a decline of 42.54% as compared to FY22.
Along with this, it is important to note that the Indian two-wheeler manufacturer closed the year by selling close to 5.20 lakh units in March 2023. Taking into account the FY22 figures, there is a considerable sales growth of 7.77% in FY23. The motorcycles segment contributed almost 93% of the total units sold in FY2022-23, while the scooters were a minimal 7% share.
Although the domestic sales figures are quite encouraging, export is something that Hero MotoCorp needs to catch up on. After the health crisis slowdown, the two-wheeler market has picked up pretty well and is now back to normal.
This year has been very crucial for the company as it stepped into the electric two-wheeler space with the launch of Vida V1 for Rs. 1.45 lakh (ex-showroom). This electric scooter comes with a claimed range of up to 165 kilometres on a single charge.
The introduction of Hero’s charging network with around 300 charging points, spread across the major cities was also a prominent move by the company. Along with this, the brand’s latest offering Xoom was launched in January 2023. The scooter received a very good response from the customers and it is priced in the range of Rs. 68,599 to Rs. 76,699 (ex-showroom).
Apart from this, Hero MotoCorp continued its streak of updating its existing line-up, both with special editions and revised models. The Xpulse 200 4V Rally Edition and 200T were prominent launches from the brand, along with the updated Splendor and Passion line-up and new Super Splendor XTEC.