Capping off the FY’23 on a positive note, Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, sold 519,342 units in March 2023, translating into a double-digit growth of 15 percent over the corresponding month of 2022, when it had sold 450,154 two-wheelers.
Riding on the positive demand for its popular two-wheelers in the month of March 2023, Hero MotoCorp further consolidated its leadership position by surpassing 5.3 million unit sales in the Financial Year (FY) 2023 (April- March 2023).
The company sold 53,28,546 units in FY’23, registering a healthy growth of 8 percent over the corresponding period of the previous fiscal (FY’22), when the company had sold 49,44,150 units.
Recently, the Board of Hero MotoCorp appointed Niranjan Gupta as the new Chief
Executive Officer (CEO) of the company, effective from 1 May, 2023, elevating him from his current position as its Chief Financial Officer (CFO), Head - Strategy and M&A. Dr. Pawan Munjal will continue as Executive Chairman and Whole-time Director on the Board.
The fiscal year also saw, Hero MotoCorp partnering with Zero Motorcycles, California (USA) - based manufacturer of electric motorcycles and powertrains, to collaborate on Premium Electric Motorcycles.
Hero MotoCorp also announced its first foray into the South East Asian Market by forging a partnership with Terrafirma Motors Corporation (TMC), a part of the Columbian Group of Companies, to launch its products in the Philippines.