Hero MotoCorp Registers a Growth of 7% in Sales for May 2023

On June 1, 2023, Leading two-wheelers manufacturer, Hero MotoCorp registered 7% year-on-year growth in sales to 519,474 units during May 2023. The automobile player expects the upside trend in sales to continue in the coming months owing to customer sentiments uptick, normal monsoon, and new launches. The total sales were at 4,86,704 units in May 2022.

In May 2023, Hero MotoCorp sold 4,89,336 motorcycles and 30,138 scooters as against 4,52,246 motorcycles and 34,458 scooters sold in May 2022. Domestic sales of the company stood at 508,309 units in May 2023, up from sales of 4,66,466 units in May last year. On the contrary, the company’s exports declined to 11,165 units in May 2023 versus 20,238 units in May 2022.

In May 2023, Hero MotoCorp introduced the OBD-II & E20 compliant XPulse 200 4V. This is in line with the company’s commitment to bring cleaner and technologically advanced mobility solutions.

As per the company management, the trend is projected to continue in the following months, driven by an increase in buyer sentiment, a projection of normal rainfall, and a slew of new luxury products.

Hero MotoCorp is a manufacturer of motorcycles and scooters. It is India’s leading two-wheeler company, which has been providing customers with an excellent range of two-wheelers that ensure both style and comfort. It is a truly global enterprise with a workforce that comprises people from different nationalities including India, Bangladesh, Colombia, Germany, Austria, Japan, and France. It is the dominant market leader in India.

The shares of this company are currently trading at Rs 2,894.50, up by 93.55 points or 3.34% from its previous closing of Rs 2,800.95 on the BSE. The scrip opened at Rs 2,827.05 and touched a high and low of Rs 2,911.65 and Rs 2,827.05 respectively. So far 58,307 shares were traded on the counter.