Hero MotoCorp, the world’s largest two-wheeler maker, has had a successful month of May 2022. Sales volumes increased substantially thanks to improvements in buyer sentiments and increased rural purchases backed by predictions of a normal monsoon. Support by way of government policies with the recent reduction in excise duty on petrol and diesel, which has resulted in a lower cost of fuel and has also brought relief to two-wheeler owners.
Hero MotoCorp sold a total of 4,86,704 units in May 2022. This was a YoY growth of 165.89 percent over the 1,83,044 units sold in May 2021. Domestic sales increased 192.34 percent to 4,66,466 units, up from 1,59,561 units sold in May 2021, while exports dipped 13.82 percent to 20,238 units in May 2022, from 23,483 units shipped in May 2021.
Growth was seen across both motorcycle and scooter sales. Motorcycle sales increased 153.07 percent YoY to 4,522,246 units, up from 1,78,706 units sold in May 2021. This was a volume growth of 2,73,540 units and a share percentage of 92.92. Scooter sales, on the other hand, saw a 694.33 percent YoY growth to 34,458 units in May 2022, up from 4,338 units sold in May 2021, a volume growth of 30,120 units and a share percentage of 7.08.
In May 2022, Hero MotoCorp also introduced the new Splendor+ XTEC commuter bike at Rs. 67,030. It comes with added style and improved technology along with better comfort and safety features as compared to that seen on the Hero Splendor.
Hero MotoCorp Sales May 2022
Month-on-month (MoM) sales of Hero MotoCorp also saw significant growth. Sales increased 16.26 percent MoM from 4,18,622 units sold in April 2022 to 4,86,704 units in the past month, leading to volume growth of 68,082 units. Growth was seen both in terms of domestic sales and exports.
Domestic sales increased 17.06 percent to 466,466 units from 3,98,490 units sold in April 2022. Exports saw a marginal increase of 0.53 percent to 20,238 units from 20,132 units sold in April 2022.
Motorcycle sales improved 15.18 percent MoM from the 3,92,627 units sold in April 2021, with a 59,619 unit volume growth and 93.79 percent share. Scooter sales, on the other hand, increased 32.56 percent from 25,995 units shipped in April 2022, leading to an 8,463 unit volume growth and a 6.21 percent share.
Hero MotoCorp Sales May 2022 YTD
The two-wheeler major also announced that its first electric vehicle unveil, which was earlier scheduled to take place in July, has now been pushed ahead to the upcoming festive season in view of supply chain issues and shortages of various components, including semiconductors.