Hero MotoCorp achieved its highest-ever retail sales during the recent 32-day festive period, starting from Navratri, the automaker says in a statement on Monday.
With sales of over 15.98 lakh units, the company registered 13% growth compared to the festive season of 2023, the statement says.
“The robust demand for Hero MotoCorp's products was evident across both urban and rural India. The 125cc motorcycle segment, with Xtreme 125R, emerged as a key growth driver, while the 100cc segment also contributed positively to the company's strong sales performance,” it says.
VIDA, Hero MotoCorp's electric vehicle brand, crossed a significant milestone by achieving 11,600 retail sales during the same period. VIDA network's ongoing expansion, leveraging Hero Premia and Hero 2.0 outlets, in conjunction with a heightened emphasis on the Top 30 towns, is yielding positive results, the two-wheeler maker says.
The upcoming portfolio expansion is set to infuse the brand with further impetus, says Hero MotoCorp The Harley-Davidson X440 achieved sales of over 2800 units. The company aims to expand the Premia network to over 100 locations by the end of this fiscal year.
“For the second consecutive year we have achieved our highest-ever festive retail sales... There has been good momentum and growth in most parts of the country with rural sales catching up with the urban segment in the latter half of the festive season. We expect the momentum to continue and are optimistic about the remainder of the year,” says Niranjan Gupta, chief executive officer, Hero MotoCorp.
Hero MotoCorp shipped 679,091 units of motorcycles and scooters to dealers in October 2024. The company registered a double-digit growth of 18% over the corresponding month of the previous fiscal when it sold 574,930 units in October 2023. This significant growth was primarily driven by robust demand from key urban and rural areas, particularly in the 100cc and 125cc segment during the festive period. Hero MotoCorp’s electric vehicle brand, VIDA, achieved its highest-ever monthly dispatches, reaching 8,750 units in October 2024.
This comes a month after Honda Motorcycle and Scooter India (HMSI) pipped its former partner Hero to emerge as India’s biggest two-wheeler maker by volume in September.
TVS Motor Company, India’s third largest two-wheeler maker by volume, registered a growth of 14% with wholesales increasing from 420,610 units in October 2023 to 478,159 units in October 2024. Domestic two-wheeler registered growth of 13% with sales increasing from 344,957 units in October 2023 to 390,489 units in October 2024. Motorcycles registered a growth of 14% with sales increasing from 201,965 units in October 2023 to 230,822 units in October 2024. Scooter registered a growth of 17% with sales increasing from 165,135 units in October 2023 to 193,439 units in October 2024. EV sales registered a growth of 45% with sales increasing from 20,153 units in October 2023 to 29,308 units in October 2024.
Meanwhile, Bajaj Auto recorded an 8% dip in domestic sales for October 2024 at 3.03 lakh compared to 3.29 lakh in the same period last year. Exports, however, surged 24% to ₹1.75 lakh units, up from 1.41 lakh units in the year-ago period.
