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Hero MotoCorp has sold 28 lakh units in H1FY23

Posted On : 2022-10-02 15:28:49( TIMEZONE : IST )

Hero MotoCorp has sold 28 lakh units in H1FY23

Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, sold more than 28 lakh units in the first six months of the Financial Year (April-September) 2022-23. This is a double-digit growth of 14.42% over the corresponding period of the previous fiscal (FY'22), when the Company had sold more than 24 lakh units.

Hero MotoCorp dispatched 519,980 units of motorcycles and scooters in the month of September 2022. Sequentially, this translates into a growth of 12.4% over the month of August 2022, when the Company had sold 462,608 units.

Heading into the peak festive season, the company remains optimistic about customer demand over the coming weeks. The normal monsoon across most parts of the country and the encouraging farm activity is likely to contribute towards positive customer sentiments. The company is geared up to launch its first-electric vehicle, VIDA - Powered by Hero on October 7, 2022.

To mark the beginning of this year's auspicious festive season, Hero MotoCorp, launched the Hero GIFT- Grand Indian Festival of Trust. The initiative includes exciting model refreshes, retail benefits, slew of financing schemes, pre-booking offers and much more.

Hero MotoCorp launched the new Xtreme 160R Stealth 2.0 edition at an attractive price of Rs. 1,29,738/- (ex-showroom Delhi). With a progressive design, and clear advances in the areas of connectivity and equipment, the new 2.0 edition is in the tune with the needs of the tech-savvy customers.

Hero MotoCorp, is finalizing a collaboration agreement with Zero Motorcycles, the California (USA)-based manufacturer of premium electric motorcycles and powertrains. The collaboration will focus on co-developing Electric motorcycles. The company's board also approved an equity investment up to US$60 million in Zero Motorcycles.

In the month of September, Hero MotoCorp entered into a collaboration with Hindustan Petroleum Corporation Limited (HPCL) to establish charging infrastructure for Electric Vehicles (EVs) in the country. As a part of the initiative, the companies will set-up charging infrastructure for two-wheeled electric vehicles (EVs) across the country, accelerating the transition of mass mobility to an electrified future.

As part of its Corporate Social Responsibility (CSR) initiative 'Khelo Hero' under the umbrella platform 'Hero We Care', the company signed a Memorandum of Understanding (MoU) with IDCA to support the specially-abled team. As part of the partnership, Hero MotoCorp, will provide the necessary training equipment to the IDCA team for the upcoming Deaf International Cricket Council (DICC) T20 Champions Trophy 2022, to be held in Sharjah, UAE between October 1-9 and the National Championships to be held later this year.

Additionally, the company announced that the Hero Cup will be held at Abu Dhabi Golf Club from January 13-15, 2023.

The company also announced the appointment of Indian superstar, Ram Charan as the new brand ambassador.

Source : Equity Bulls


HeroMotoCorp SalesVolume September2022 H1FY23