Auto Sales January 2024: Hero MotoCorp Leaps Ahead with 22% Growth

Hero MotoCorp starts the new year with a robust 22% year-on-year (YoY) sales growth in January 2024. The company sold a total of 433,598 units, marking a significant milestone compared to the 356,690 units sold in January 2023.

The domestic market played a crucial role in this impressive performance, with sales surging 20.5% to 420,934 units. This growth reflects a gradual recovery in demand and Hero MotoCorp's strong brand presence in the Indian market.

Exports also witnessed a remarkable jump, increasing by a whopping 75% to 12,664 units compared to the previous year's figure of 7,253 units. Hero MotoCorp is strategically driving its growth through various initiatives. The company recently announced its foray into the premium bike segment with the unveil of the new Mavrick 440 motorcycle. This move positions Hero MotoCorp to compete with established players like Royal Enfield sub-500 cc retro space.

Additionally, the launch of the Xtreme 125R in the 125cc segment demonstrates the company's focus on expanding its product portfolio.

Hero MotoCorp is also expanding its global footprint by appointing CG Motors as its distributor in Nepal. This partnership will involve establishing an assembly facility in Nepal, marking a significant step towards solidifying the company's presence in the international market.

With a strong domestic market performance, impressive export growth, and strategic initiatives aimed at premium segments, EVs, and global expansion, Hero MotoCorp is well-positioned for continued success in the future.