In what could be a sign of improving consumer sentiment, India’s largest 2-wheeler manufacturer, Hero MotoCorp, has registered a strong growth of 35.7% in Q1 of FY 2022-23.
Microscopically speaking, 3.35% is the sales growth this June, making it 4,84,867 units being sold vis-a-vis 4,69,160 units in the same month last year.
Picking The Pulse
Hero feels that the growing volume could be an indicator of continuously improving consumer sentiment. It hopes to ride on the back of a decent monsoon and farm activity for the positive trend to grow.
While domestic sales have grown, its export numbers are down to 62,027 units in FY22-23 as compared to 83,800 units in the corresponding period last year.
Euro-5 compliant versions of XPulse 200 4V motorcycle, Dash 110, and Dash 125 scooters were launched in Turkiye to boost overseas operations.
All For The Community
To promote the spirit of adventure and exploration, the company recently launched the Hero XCLAN platform, a new community-riding platform. Hero XPulse bike owners can engage with other riders to share their stories, ideas, and experiences.
In other initiatives, Hero MotoCorp launched EV Technology Expo in Jaipur in June.
Speaking of EV…
Pawan Munjal-led Hero Motocorp has finally received the green light to use the ‘Hero’ trademark, as per an arbitration tribunal ruling. Nephew Naveen Munjal-led Hero Electric had sought an injunction against Hero MotoCorp using the ‘Hero’ trademark for its EVs.
However, the tribunal found the case of Hero Electric unmerited and said the balance of convenience was not in their favour or that they would suffer irreparable hardships by such a launch.
Rivals In EV
Amid its e-scooters catching fire, rival Ola Electric again saw its registration sliding down to 5,869 this June – positioning it 4th in its segment. In their defence, Ola said they were prepared to see the impact of supply chain constraints, especially on cell shortages in June.
On the other hand, Hero Electric fared better and came 3rd with 6,486 EV 2-W registrations.
Too long? Here’s a one-liner: Here MotoCorp sees a jump in sales; wins tribunal’s permit to use the ‘Hero’ trademark for its EVs and bags 3rd position in 2-wheeler registrations followed by Ola Electric.