Hero MotoCorp sales February 2023: Domestic motorcycle, scooter sales volumes up 15%, exports down 55%

Hero MotoCorp sales February 2023: Hero MotoCorp sold a total of 3,82,317 motorcycles and scooters in the domestic market last month, growth of 15.3 per cent compared with the corresponding period a year ago. After market hours on Wednesday, the auto major reported exports of 12,143 motorcycles and scooters last month, down 54.7 per cent on a year-on-year basis.   

Its total sales — comprising domestic sales and exports — increased 10.1 per cent on a year-on-year basis to 3,94,460 scooters and motorcycles, exceeding analysts' estimates.  According to Zee Business research, Hero MotoCorp's total sales in February 2023 were pegged at 3,88,000.

Total sales volumes — comprising domestic as well as international markets — grew 9.9 per cent in motorcycles and and 14.2 per cent in scooters, according to a statement. 

Hero MotoCorp said volumes in February suggest continuously improving consumer sentiment, and it expects the positive trend to continue in the coming months on the back of favourable economic indicators. 

Hero MotoCorp began operations at its public charging infrastructure for its  VIDA brand of electric vehicles in New Delhi, Bengaluru and Jaipur during the quarter. 

The infrastructure network enables VIDA scooter riders to charge the battery of the electric two wheeler at 1.2 kilometres per minute, the company reiterated. 

Read more on auto sales February 2023

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