Auto Sales June 2024: Hero MotoCorp Cross June Targets With 15% Growth

Published on 2 Jul, 2024, 5:38 AM IST

Updated on 2 Jul, 2024, 6:08 AM IST

Chinmay Hadkar

3 min read

Top stories and News

A minor blip in exports presented itself in June, but Hero's overall performance remains on track.

Contents

Hero MotoCorp surpassed expectations in June 2024 achieving a 15% sales increase compared to June 2023. The company sold a total of 503,448 units, exceeding both motorcycle and scooter sales targets for the month.

The growth was driven by a surge in motorcycle sales. This reached 473,228 units in June 2024, reflecting a 17% year-over-year increase compared to 404,474 units sold in June 2023. While scooter sales saw an increase this month over May 2024 it still is lower than last year's same month.

Domestic sales thrived in June 2024, with Hero MotoCorp recording a significant 16% growth to 491,416 units compared to 422,757 units sold in June 2023. This robust performance signifies continued recovery and positive consumer sentiment within the Indian two-wheeler market.

Particulars	JUNE' 24	May'24	JUNE' 23	YTD FY'25	YTD FY'24
Motorcycles	473,228	471,186	404,474	1,440,956	1,262,640
Scooters	30,220	26,937	32,519	94,200	89,934
Total	503,448	498,123	436,993	1,535,156	1,352,574
Domestic	491,416	479,450	422,757	1,484,162	1,317,250
Exports	12,032	18,673	14,236	50,994	35,324

Exports See Minor Dip

Hero MotoCorp's export market experienced a minor decline in June 2024, with sales reaching 12,032 units compared to 18,673 units exported in May 2024. However, when compared year-over-year, exports remained slightly higher than June 2023 (14,236 units).

Looking Ahead: A Focus on Sustainability and Growth

Despite a minor setback in exports, Hero MotoCorp's overall performance in June 2024 paints a promising picture. The company's commitment to sustainability continues to shine, with achievements like becoming Zero-Waste-to-Landfill well ahead of schedule. The company's commitment to innovation is evident with recent leaks of an upcoming Destini 125 scooter featuring a complete design overhaul. Additionally, its strategic focus on the 125cc segment, premium motorcycles, and the burgeoning electric vehicle market should position it for future success.