Hero MotoCorp, reported its highest-ever festive season sales of over 14 lakh (1.4 million) units in 2023. The company registered a 19 per cent year-on-year growth in retail sales during the 32-day festive period. It also surpassed its previous festive sales record of 12.7 lakh units achieved in 2019.
Commenting on the performance, Niranjan Gupta, Chief Executive Officer (CEO), Hero MotoCorp, said “We are delighted with the festive sales, and a big thank you to all our customers who have continued to repose their trust and faith in Brand Hero. Our strong portfolio of brands, scale of distribution and new launches done this year have helped in driving this growth across geographies.
“The record retail number was achieved due to the strong customer traction across markets, with good double-digit growth in the Central, North, South and East Zones. The robust customer demand in the rural markets, in addition to the very positive sentiments in key urban centers, drove this record retail sales. With this robust retail sales, our post-festive channel inventory has now come down to its lowest level in more than three years. This has set us on a steady growth path for the rest of the fiscal year,” said Ranjivjit Singh, Chief Business Officer, India Business Unit, Hero MotoCorp.
To boost festive sales, Hero MotoCorp rolled out the second edition of its 'Hero GIFT' (Grand Indian Festival of Trust) campaign. As per the company, “The Hero GIFT program is a gesture of gratitude to commemorate the unwavering trust that customers have reposed on us. As a much-loved household brand in the country, Hero MotoCorp takes pride in bringing the best for our customers.”
The GIFT program offered special financing schemes and pricing on refreshed models in new colour options across motorcycles and scooters.
Hero MotoCorp's highest-ever festive period sales highlights the positive momentum driven by its strategic initiatives like Hero GIFT. With post-festive inventories optimised, the company aims to continue its steady growth trajectory for the remaining fiscal year.
