Hero MotoCorp Sold 5.36 Lakh Motorcycles And Scooters In September 2023; Expects Healthy Demand Ahead

World's largest manufacturer of motorcycles and scooters, Hero MotoCorp registered sales of 536,499 units in September 2023, rising by 3% compared to sales of 519,980 units in the same month a year ago. In September, domestic sales stood at 519,789 units, while exports were at 16,710 units.

Domestic sales and exports were at 507,690 units and 12,290 units in September 2022.

In September 2023, the company sold 494,270 motorcycles versus 480,237 units in September 2022. Scooter sales also picked up to 42,229 units in September 2023 versus 39,743 units a year ago same month.

In its statement, Hero MotoCorp said, "As the country enters the peak festive season in the coming weeks, Hero MotoCorp expects the demand to be on a healthy trajectory, led by macroeconomic factors."

From April to September 2023 (H1FY24), the company's sales however declined to 2,769,100 units compared to 2,818,361 two-wheelers sold in H1 of FY23. Both domestic and exports dragged the first half of FY24, with sales of 2,681,190 units and 87,910 units as against 2,717,280 units and 101,081 units sold in H1FY23.

Further, in H1FY24, sales of motorcycles dropped to 2,569,688 units as against 2,638,618 units sold in H1FY23. On the contrary, scooter sales gained traction to 199,412 units in H1FY24 versus 179,743 units in H1FY23.

Last week, on Friday, Hero MotoCorp shares ended at Rs 3056.95 apiece, up by 2.85% on BSE.