Capping off the FY’23 on a positive note, Hero MotoCorp, manufacturer of motorcycles and scooters, sold 519,342 units in March 2023, translating into a double-digit growth of 15 per cent over the corresponding month of 2022, when it had sold 450,154 two-wheelers.
Riding on the positive demand of its popular two-wheelers in the month of March 2023, Hero MotoCorp further consolidated its leadership position by surpassing 5.3 Million unit sales in the Financial Year (FY) 2023 (April- March 2023).
The company sold 53,28,546 units in FY’23, registering a healthy growth of 8 per cent over the corresponding period of the previous fiscal (FY’22), when the Company had sold 49,44,150 units.
Recently, the Board of Hero MotoCorp appointed Niranjan Gupta as the new Chief Executive Officer (CEO) of the company, effective from May 1, 2023, elevating him from his current position as its Chief Financial Officer (CFO), Head - Strategy and M&A. Dr. Pawan Munjal will continue as Executive Chairman and Whole-time Director on the Board.
The company says that they have created a series of benchmarks and milestones in FY’ 2023 for the Indian market as well as the global automotive industry.
Powered by Hero, Vida V1, an electric two wheeler also made its debut in FY’23. Deliveries of Vida V1 have already been commenced and the company has set-up more than 300 charging stations across 50 locations in Delhi, Bengaluru and Jaipur for public use.
In the FY’23, Hero MotoCorp had launched the new 110cc scooter – Xoom, XTEC variants of Splendor, Passion followed by Super Splendor, Canvas Black edition of Super Splendor and Stealth 2.0 edition of Xtreme 160R. The company also created excitement in the market by launching the 4-Valve edition of its popular tourer XPulse 200T, and the Rally Edition of XPulse 200 4V.
The fiscal year also saw, Hero MotoCorp partnering with Zero Motorcycles, California (USA) - based manufacturer of electric motorcycles and powertrains, to collaborate on Premium Electric Motorcycles. This collaboration will combine the expertise of Zero in developing power trains and electric motorcycles with their global scale & capabilities in manufacturing, sourcing and marketing.
Hero MotoCorp also announced its first foray into the South East Asian Market by forging a partnership with Terrafirma Motors Corporation (TMC), a part of the Columbian Group of Companies, to launch its products in the Philippines.