Hero MotoCorp Sells More than 56 Lakh Units in Last Financial Year

Hero MotoCorp, one of the big two-wheeler companies, increased its sales to 56,21,455 units in the last financial year. The company has registered an increase of about 10 percent in sales in the fourth quarter of the last financial year. It sold 4,90,415 units of scooters and motorcycles in March. Last month, sales of the company’s electric scooter Vida V1 stood at more than 4,000 units.

In the last financial year, Hero MotoCorp has achieved 16 percent growth in international business. The company expects revenue growth to be in double digits in the current financial year. Recently it launched Xtreme 125R. The company is increasing the manufacturing of its premium motorcycles. In the current financial year, Hero MotoCorp plans to start business in Europe and Britain. It has appointed new distributors in its overseas markets like Costa Rica and Nepal. Hero MotoCorp’s exports almost doubled to 31,158 units in March.

The company has prepared to make the Vida V1 electric scooter available in countries like France and Spain. It competes with Ola Electric’s S1 Pro and Ather Energy’s 450X. Hero MotoCorp plans to launch electric two-wheelers in different price segments. The company has increased the pace of its plans for EV. Hero MotoCorp is also preparing to launch an electric motorcycle. Sales of electric two-wheelers have increased in the last few years. The share of electric scooters and electric motorcycles in the total sales of two-wheelers in the country is a little more than two percent. Competition is continuously increasing in this segment. However, Hero MotoCorp has delayed its entry into this segment. Ola Electric holds the first position in this market with about 40 percent share.

Recently, Hero MotoCorp had said that some of its new launches in the premium segment of motorcycles have got initial success. The presence of the company’s electric two-wheelers has increased to about 100 cities. With the tie-up with Ather, it is also expanding its charging network rapidly. Hero MotoCorp’s V1 Pro has a battery of 3.94 kWh and a range of 165 kilometers, while the V1 Plus has a battery of 3.44 kWh and a range of about 143 kilometers.