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Business News/ Companies / News/  Hero MotoCorp sells more than 5.9 lakh motorcycles in May, expects trend to continue
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Hero MotoCorp sells more than 5.9 lakh motorcycles in May, expects trend to continue

Hero MotoCorp's May 2023 sales rose by 7% YoY to 519,474 units, driven by increased customer sentiment, normal monsoon, and new launches.

A customer inspects a Hero MotoCorp Ltd. Impulse motorcycle displayed at a Pashupati Motors dealership in New Delhi, India. (Prashanth Vishwanathan/Bloomberg)Premium
A customer inspects a Hero MotoCorp Ltd. Impulse motorcycle displayed at a Pashupati Motors dealership in New Delhi, India. (Prashanth Vishwanathan/Bloomberg)

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.

A year ago, in May, the total sales were at 486,704 units.

As per the regulatory filing, of the total sales in May 2023, Hero MotoCorp sold 489,336 motorcycles and 30,138 scooters as against 452,246 motorcycles and 34,458 scooters sold in May 2022.

Domestic sales stood at 508,309 units in May 2023, up from sales of 466,466 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.

Read here: M&M share price rallies as strong SUVs demand drive May sales; should you buy this auto stock?

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.

In its regulatory filing, Hero MotoCorp said, "The momentum is expected to continue in the coming months, driven by an uptick in customer sentiments, forecast of normal monsoon, and a host of new launches in the premium segment."

Read here: Bajaj Auto’s May sales beat estimates, but export decline YoY casts shadow

Between April to May 2023, Hero MotoCorp's sales jumped to 915,581 units as against 905,326 units in the corresponding period of the previous year.

On BSE, Hero MotoCorp's share price closed at 2800.75 apiece up by 1.4%.

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Updated: 01 Jun 2023, 10:53 PM IST
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