Hero MotoCorp Records 19 Percent Growth In The Festive Season

Hero MotoCorp has seen a 19 percent year-on-year growth during this year’s festive period. It sold over 1.4 million vehicles in the 32 days between the first day of the Navratras and Bhai Dooj. The strong demand in rural areas and consistent retail sales in urban areas played a crucial role in this achievement. It surpassed its previous record of 12.7 lakh units sold during the 2019 festive season.

Hero MotoCorp rolled out the second edition of Hero GIFT - the Grand Indian Festival of Trust – its leading program targeted specifically for the festive period - encompassing new model refreshes, colour schemes,  benefits, and attractive finance schemes for customers. 

Plus, with the arrival of new products like the Karizma XMR, Xoom 110 and Xtreme 160R 4V, Hero has added some much needed freshness to its portfolio. With more two-wheelers planned for the fiscal year, including the Xoom scooters shown at EICMA 2023, sales are bound to grow for the Indian bike maker.

Niranjan Gupta, Chief Executive Officer, Hero MotoCorp, said “We are delighted with the festive sales and a big thank you to all our customers who have continued to repose their trust and faith in Brand Hero. Our strong portfolio of brands, scale of distribution, and new launches done this year have helped drive this growth across geographies. The festive season is a clear testimony that rural areas are coming back to growth, which augurs well for the country in general and the two-wheeler industry in particular.” 

Ranjivjit Singh, Chief Business Officer, India Business Unit, highlighted the record retail numbers driven by strong customer traction across regions. Double-digit growth in Central, North, South, and East Zones, along with strong demand in rural markets and positive sentiments in urban areas, contributed to the achievement. Singh mentioned that post-festive channel inventory is at its lowest in over three years, setting the company on a steady growth path for the fiscal year.