Auto Sales October 2023: Hero MotoCorp Grows 26 Per Cent In Total Sales

Hero MotoCorp registered a 26 per cent surge in sales for October 2023, reaching 574,930 units compared to the same month the previous year when they reported sales of 454,582 units. Of the total sales, 559,766 units were in the domestic market, while exports amounted to 15,164 units. Over the first ten months of the year, the company achieved a cumulative sale of 3.3 million units.

In October 2023, Hero MotoCorp reported the sale of 5,29,341 motorcycles and 45,589 scooters, resulting in a total of 5,74,930 units. Domestic sales stood at 5,59,766, with exports reaching 15,164 units. Year-to-date figures for FY'24 show total sales of 33,44,030 units, with 32,40,956 in the domestic market and 1,03,074 units exported.

On October 3, Hero MotoCorp implemented a price increase of around 1 per cent for select motorcycles and scooters. The extent of the increase varied by specific models and markets. The company explained that the price adjustment is a routine evaluation of product competitiveness, taking into account factors such as inflation, margins, and market positioning.

In October, Hero MotoCorp inaugurated its first premium dealership, "Hero Premia," in Calicut, Kerala. The dealership will showcase the brand's premium product range, including the newly launched flagship motorcycle Karizma XMR, Vida V1 scooters, and Harley-Davidson X440 launched last month.

Read More: Hero Premia Premium Dealership Launched