Hero MotoCorp has reported a total growth of 17 percent in terms of sales (domestic + exports) in January 2024. Total sales stood at 4,30,192 units in the past month, up from 3,56,679 units sold in January 2023. Hero MotoCorp, one of India's leading two-wheeler manufacturers, has released its sales figures for January 2024. The company's performance in the first month of the year is crucial as it sets the tone for the rest of the year. Let's take a closer look at Hero's sales figures for January 2024 and analyze the performance of its various models. Hero MotoCorp has seen its sales grow by 19.49 percent in domestic markets to 4,17,534 units in January 2024 from 3,49,426 units sold in January 2023. It was also a MoM growth from 3,75,625 units sold in December 2023. Exports on the other hand saw an even higher percent growth of 74.52 percent to 12,658 units in January 2024. This was over just 7,253 units shipped in January 2023. MoM exports suffered a setback from 16,110 units shipped in December 2023.
?With 12,658 units shipped last month, the company has recorded a 74.52 percent YoY growth in exports over 7,253 units sold in January 2023. It was the HF Deluxe that saw most global demand rising by a near 90 percent to 4,638 units in January 2024 from 2,448 units sold in January 2023. The HF Deluxe currently commands a 36.64 percent share on this export list. Hunk exports were up by 116.13 percent to 3,551 units last month, however Splendor exports slipped by 13.64 percent to 1,672 units from 1,936 units exported in January 2023. Hero Glamour sales went up by 140.18 percent to 1,614 units while Xpulse 200 also saw higher demand by 55.72 percent to 735 units in January 2024. The export list for January 2024 also had the Maestro (260 units), Pleasure (96 units), Passion (90 units) and Karizma (2 units).
Overall Sales Performance
In January 2024, Hero MotoCorp sold a total of 7,253 units, which represents a 17% increase compared to the same month last year. This growth can be attributed to several factors, including the introduction of new models, aggressive marketing campaigns, and a recovering economy.
Splendor Series
The Splendor series continues to be Hero's best-selling lineup, with the Splendor Plus leading the pack. In January 2024, the Splendor Plus recorded sales of 1,672 units, making it the highest-selling model for Hero. The Splendor Pro and the Splendor iSmart also performed well, contributing 1,614 units and 1,936 units respectively to the overall sales figure.
Deluxe Series
The Deluxe series, which includes models like the Super Splendor and the Glamour, also saw a positive growth in January 2024. The Super Splendor recorded sales of 4,638 units, while the Glamour contributed 2,448 units to the total sales figure. These numbers indicate a growing demand for premium commuter motorcycles in the Indian market.
Passion Series
The Passion series, known for its fuel efficiency and stylish design, recorded sales of 96 units in January 2024. While this represents a slight decline compared to the same month last year, the Passion series continues to be a popular choice among Indian consumers.
Glamour Series
The Glamour series, which caters to the youth segment, recorded sales of 1,614 units in January 2024. This is a significant improvement compared to the same month last year, indicating a growing demand for stylish and feature-rich motorcycles in the market.
Destini Series
The Destini series, which includes the Destini 125, recorded sales of 735 units in January 2024. While this is a slight decline compared to the same month last year, the Destini series remains a strong contender in the 125cc scooter segment.
Karizma Series
The Karizma series, which includes the Karizma ZMR, recorded sales of 2 units in January 2024. While this is a niche segment, Hero continues to cater to the needs of enthusiasts who are looking for a powerful and stylish motorcycle.
Conclusion
Overall, Hero MotoCorp's sales performance in January 2024 is encouraging, with strong sales figures across its product lineup. The company's focus on introducing new models and expanding its reach in the market has paid off, and it will be interesting to see how Hero maintains this momentum in the coming months. There is the new Hero Mavrick 440 that has been recently added to the company portfolio jointly developed by Hero and Harley. It is positioned in the premium segment and priced between Rs 2 lakh and Rs. 2.24 lakh (ex-showroom). It will take on much competition in its segment from the likes of Triumph Speed 400, Honda CB300R, Bajaj Dominar 400, KTM 390 Duke, Apache RTR 310, BMW G 310 R as well as the Harley-Davidson X440.