Big drop in sales of bikes and scooters, know why !

Big drop in sales of bikes and scooters, know why !

Hero MotoCorp recorded a significant improvement in two-wheeler sales in August 2024, while scooter sales declined. The company had faced supply shortages last month. Hero MotoCorp sold a total of 5,12,360 motorcycles and scooters in August 2024. This includes sales in both domestic and global markets. In comparison, 4,88,717 units were sold in August 2023, an increase of 23,643 units and an improvement of 4.84% year-on-year. This was a 38.34% increase compared to July 2024 when 3,70,374 units were sold.

Motorcycle sales grew 5.76 percent last month. The company's sales increased from 452,186 units to 478,215 units in August 2023. Currently, motorcycles account for 93.34% of the company's sales. On the other hand, scooter sales declined 6.53 percent year-on-year to 34,145 units from 36,531 units in August 2023, but grew 14.26 percent from 29,884 units in July 2024. The company expects the launch of the new Destiny scooter to drive sales in this scooter segment.

As a result, the total domestic sales volume in August 2024 will be 4,92,263 units, up 4.08% from the sales volume in August 2023, which was 4,72,947 units. It will be 4,92,263 units in July 2024. Sales grew from 3,47,335 units. 41.73 percent. Hero's exports registered a growth of 27.44% to reach 20,097 units as against 15,770 units in the same month last year. However, on a month-on-month basis, deliveries declined by 11.62 percent compared to the delivery of 22,739 units in July 2024.

A total of 24,17,790 bikes were sold from April to August 2024. This amount represents a growth of 8.29% compared to the same period of the previous year, which is 2 million 232 thousand 601 units, resulting in an increase in sales of 1 million 85 thousand 189 units. Notably, thanks to the Xtreme 125R, the company's two-wheeler sales grew by 8.87 percent to 2,259,561 units from April to August 2024 as against 2,075,418 units in the same period last year. Scooter sales also grew. However, there was a marginal increase of 0.67 percent, with sales going up by 1,046 units as against 157,183 units in the same period last year.