India’s largest two-wheeler maker Hero MotoCorp reported a 15% growth in its total dispatches during June on a year-on-year basis as robust growth in the domestic market offset the impact of decline in exports.
The automaker sold a total of 503,448 two-wheelers, including motorcycles and scooters, in June, against 436,993 two-wheelers sold in the year-ago period, the company said in a press release.
Hero MotoCorp’s domestic market volume rose to 491,416 units from 422,757 in June 2023, while exports declined to 12,032 units from 14,236 units in the year-ago period.
The automaker’s core strength has been in the entry-level, or 100-110 cc segment and had been struggling in the premium market due to its limited offerings. However, the company shifted its focus toward 125cc and premium segments last year.
“Continuing to bolster its presence in the 125cc, premium and EV segments, Hero MotoCorp is witnessing strong demand for products like the Xtreme 125 and VIDA V1. The company is simultaneously expanding its network of Hero Premia and Hero 2.0 stores to enhance the overall customer experience,” Hero MotoCorp said.
The dispatches of its electric model, Vida V1, were at their highest ever during the month. The automaker plans a portfolio of four electric models in this financial year. One of the scooters is likely to be in the affordable range, while the other could be in the mid-segment.
For the quarter ended June, the company’s total sales rose 13.5% on year to 15.35 lakh units. Domestic sales improved to 14.84 lakh units from 13.17 lakh units in the same period the previous year. Exports also increased to 50,994 units from 35,324 units.