Hero MotoCorp achieves 10% growth, selling 56 lakh units in FY’24

Hero MotoCorp has announced its financial results for the financial year 2023-24, reporting a total sales figure of 56,21,455 units with a 10% growth in the fourth quarter and 16% growth in global business sales. In March 2024, the company sold 4,90,415 units of motorcycles and scooters, expanding its reach across 100 cities.

The company also partnered with Ather Energy to provide over 2,000 charging points for its customers. Hero MotoCorp expects double-digit revenue growth in FY’25, focusing on the 125 cc segment, launching new models like the Xtreme 125R, and ramping up production in the premium motorcycle and EV market.

Additionally, Hero MotoCorp upgraded its network with 75 Premia outlets and over 400 Hero 2.0 stores. The company has strategic plans to start operations in Europe and the UK in FY’25 and strengthened its presence in key international markets such as Nepal and Costa Rica by appointing new distributor partners. In March 2023, the brand sold 5,19,342 units compared to 4,90,415 units in March 2024, with exports increasing from 16,612 to 31,158 units during the same period.

According to the report, “Hero MotoCorp expanded its premium motorcycle range with Xtreme 125R, Xtreme 200S, Xtreme 160R 4V, Harley-Davidson X440, Karizma XMR, and the Mavrick 440.” The company is focused on growth and innovation in the coming fiscal year, aiming to maintain its position in the market and expand its presence globally.