Hero MotoCorp records 20% growth in 32-day festive season

The 32-day festive season in India, which began with Navratri and concluded with the last day of Diwali, and typically sees strong vehicle buying patterns, has seen strong sales. While top carmakers have reported sales of over 400,000 units, two-wheeler market leader Hero MotoCorp too has registered strong double-digit gains.

The company, which currently has a 32% share of the total two-wheeler market which includes 47% of the motorcycle market and 6% of the scooter market, has reported year-on-year growth of 20% in the festive period. The sales were led by high demand across key states such as Maharashtra, Gujarat, Rajasthan, Uttar Pradesh, Bihar, Jharkhand and Karnataka.

While it has not provided specific sales numbers, the company says its “festival season retails were driven by the strong performance of its popular motorcycles across segments, including the 100cc Splendor+, 125cc Glamour and Super Splendor, and the XPulse range in the premium segment. On the scooter front, Hero MotoCorp witnessed strong customer preference for its Destini which is among the scooters benefiting from demand for 125cc models. Between April-September 2022, the Destini 125 has sold a total of 61,692 units, up 41% YoY. Demand in the festive season would have given it a new charge.

At the beginning of this year’s festive season, Hero MotoCorp had launched Hero GIFT – Grand Indian Festival of Trust – which comprised model refreshes (new colours on Splendor+, Glamour, HF Deluxe, Pleasure+ and the Xtreme 160R Stealth 2.0 edition), retail benefits, financing schemes and pre-booking offers.

Other highlights of the GIFT scheme included insurance benefits, easy financing schemes such as buy now-pay later, low down-payment, cash EMI, 5-year standard warranty, and cash benefits on products. Hero scooters had benefits up to Rs 13,500 including year-long insurance, 2-year free maintenance, Rs 3000 exchange bonus, Rs 4,000 gift vouchers, 5-year warranty and 6 months EMI offers with zero percent interest.

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