Hero MotoCorp Achieves Record Festive Sales While Bajaj Faces Domestic Decline

Hero MotoCorp reported its highest-ever retail sales during the festive period, propelled by growth in the 125cc motorcycle segment and electric vehicles. Meanwhile, Bajaj Automobiles experienced an 8% domestic decline, despite an overall year-on-year growth driven by a strong 22% increase in exports.

In a strong display of market leadership, Hero MotoCorp announced on Monday that it achieved its highest retail sales ever during the recent festive season, beginning with Navratri. The company sold over 1.6 million units, representing a commendable 13 percent rise compared to the previous year's festive period.

Hero MotoCorp attributed this success to a surge in demand from both urban and rural areas. Notably, the 125cc motorcycle segment, featuring the Xtreme 125R, proved to be a significant growth catalyst, while the 100cc segment also contributed positively to sales.

Furthermore, Hero MotoCorp's electric vehicle brand, VIDA, reached a remarkable milestone with 11,600 units sold, alongside the Harley-Davidson X440's sales exceeding 2,800 units. The company plans to expand its Premia network to over 100 locations by the end of the fiscal year, aiming to enhance brand reach and accessibility.

CEO Niranjan Gupta celebrated a second consecutive year of record festive retail sales, emphasizing Hero MotoCorp's standing as India's preferred brand. Gupta also noted that rural demand caught up with urban sales in the latter half of the festival.

In contrast, Bajaj Automobiles reported an 8 percent decrease in domestic sales in October compared to the same month last year, recording sales of 255,909 units, down from 278,486. Despite the domestic drop, Bajaj achieved a 2 percent overall growth, driven by a robust 22 percent rise in exports.

(With inputs from agencies.)