Two-wheeler manufacturer Hero MotoCorp on Monday reported that it has achieved its highest-ever retail sales during the recent festive period, starting from Navratri. With sales of over 15.98 lakh (1.6 million) units, the company registered an impressive 13 per cent growth compared to the festive season of 2023.
The two-wheeler maker attributed robust demand across both urban and rural India as reasons behind the robust sales. 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.
VIDA, Hero MotoCorp’s electric vehicle brand, crossed a significant milestone by achieving 11,600 retail sales during the same period. The Harley-Davidson X440 achieved handsome sales of over 2800 units. As the company aims to expand the Premia network to over 100 locations by the end of this fiscal year, they believe that it will enhance the reach and accessibility of this brand.
“For the second consecutive year we have achieved our highest-ever festive retail sales, which is a testament to Hero MotoCorp’s position as the preferred brand in India,” said Niranjan Gupta, Chief Executive Officer, Hero MotoCorp.
Gupta said that the rural sales caught 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,” said Gupta.
Earlier today, Bajaj Automobiles reported that its sales declined by 8 per cent in October year-on-year. The company recorded domestic two-wheeler sales of 2,55,909 units for the month, a drop from the 2,78,486 units sold during the same period in 2023.
Despite this domestic setback, the company’s overall two-wheeler sales, which include both domestic and export figures, registered a 2 per cent growth year-on-year.
According to Bajaj Automobiles, two-wheeler exports increased by a significant 22 per cent in October this year, reflecting healthy demand in international markets.
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