Hero MotoCorp is not only the leading two-wheeler manufacturer in India but also the largest producer of scooters and motorcycles in the world for over 23 consecutive years. The company closed the financial year 2023-24 with sales of 56,21,455 two-wheelers inclusive of domestic sales and exports.
The company registered a growth of 10% in the fourth quarter of FY24. Hero MotoCorp also registered 16% growth in its global business sales during the fiscal year. In March 2023 alone, the bike maker sold 490,415 units of motorcycles and scooters.
Hero MotoCorp EV sales
Enforcing its EV sales numbers, Hero MotoCorp sold more than 4000 VIDA V1 electric scooters in retail sales in the month of March. As a result, Hero MotoCorp recorded its highest-ever monthly sales in the EV segment. Powered by Hero, the company has expanded the presence of its emerging mobility brand Vida, to over 100 cities in the country.
Hero MotoCorp has entered into a partnership with Ather Energy for an interoperable charging network, providing over 2,000 charging points across 100 cities to its customers. The company is aiming at a double-digit revenue growth in FY 2025 on the back of all the recent launches.
During the year, Hero MotoCorp made an impact in the premium motorcycle segment by launching as many as six new products – Xtreme 125R, Xtreme 200S, Xtreme 160R 4V, Harley-Davidson X440, Karizma XMR and the Mavrick 440. The company also upgraded its network with the appointment of 75 Premia outlets and launch of over 400 Hero 2.0 stores.
Hero MotoCorp future models
Hero unveiled a wide range of exciting products at the last edition of EICMA Motor Show in Milan and at its own bi-annual event Hero World. The company showcased the world’s first class-convertible vehicle – Surge S32, path-breaking EV concepts – Lynx and Acro – flex-fuel options for popular motorcycle models and its upcoming range of scooters – Xoom (125 & 160), new VIDA V1 and V1 Coupe.
| Particulars | MARCH’ 24 | MARCH’ 23 | YTD FY’24 | YTD FY’23 |
| Motorcycles | 456,724 | 485,896 | 5,190,672 | 4,959,156 |
| Scooters | 33,691 | 33,446 | 430,783 | 369,390 |
| Total | 490,415 | 519,342 | 5,621,455 | 5,328,546 |
| Domestic | 459,257 | 502,730 | 5,420,532 | 5,155,793 |
| Exports | 31,158 | 16,612 | 200,923 | 172,753 |
Some of these models mentioned above will make their way to the Indian market in the upcoming fiscal year. The company marked a key milestone in its global business operations as it announced the commencement of operations in Europe and UK in FY 25.
