Hero MotoCorp Achieves Impressive Growth, Selling Over 54.99 Lakh Units in 2023

Hero MotoCorp Achieves Impressive Growth, Selling Over 54.99 Lakh Units in 2023

Hero MotoCorp, the global leader in the manufacturing of motorcycles and scooters, has showcased its market dominance by reporting the sale of more than 54.99 lakh units from January to December 2023. This remarkable achievement signifies a notable 5% growth compared to the same period in 2022 when the company sold 52.47 lakh units.

The robust sales performance in December 2023 was evident as Hero MotoCorp dispatched 393,952 units of motorcycles and scooters, further solidifying its position in the market. The company attributes this success to various factors including increased government spending, improved liquidity, a boost in farm activity, and the upcoming marriage season. With these favorable conditions, Hero MotoCorp anticipates a positive momentum build-up, particularly starting from the fourth quarter onward.

In a strategic move to strengthen its leadership team, Hero MotoCorp made two key appointments in December 2023. Vivek Anand took on the role of Chief Financial Officer (CFO), and Rachna Kumar assumed the position of Chief Human Resources Officer (CHRO). Both executives will directly report to Niranjan Gupta, the CEO of Hero MotoCorp.

Hero MotoCorp also announced a major alliance with Ather Energy to build an interoperable fast-charging network throughout India and the goal of this partnership is to offer seamless access to the VIDA and Ather grids across the country for users of electric vehicles (EVs). With approximately 1900 fast-charging stations spread across 100 cities the integrated network is anticipated to support the expansion of the nation's EV infrastructure.

In the arena of motorsports, Hero MotoSports Team Rally is gearing up for the Dakar Rally 2024 and the team has introduced a formidable squad comprising four Pilots in the Rally GP class: Ross Branch, Sebastian Buhler, Joan Barreda Bort, and Joaquim Rodrigues. Hero MotoCorp is committed to breaking limits on the global scene as evidenced by the fact that this team is the only one from India competing in the Dakar 2024.

In addition to being the market leader in sales Hero MotoCorp is a forward-thinking and dynamic player in the ever-changing automotive sector, as demonstrated by this extensive showcase of accomplishments and calculated decisions. As it keeps innovating and broadening its sphere of impact the company positions itself for future success and prominence.