Hero Motors Global Sales keep the moderate recovery. In 2023 sales are growing and after 9 months are 4.2 million (+2.4%) projecting the year at 5.2 million, still very far from the 2018 record.
McD tracks new vehicles registrations across the World (over 80 countries), reporting data on calendar year. When you wish to compare data reported by us to those declared by the manufacturers, consider they usually report their “sales” (vehicles invoiced), which are usually different from “registrations”, accordingly with their fiscal year split.
Global Registrations Data in 2023
Hero Motor is the largest Indian motorcycles manufacturers and the second largest in the World.
In the recent years, Hero gained terrain in the global 2-wheeler scene, thanks to the leadership in the second largest market, India, hitting the all-time record in 2018, a year particularly lucky for the Indian companies due to domestic market boom sustained by one-shot government incentives, with 7.8 million sales.
When in 2019 Indian market fell down, Hero followed the trend and the arrival of Covid 19 in the following year, further reduced the global volume, declined at the lowest-in-decade 4.9 million in 2021.
Since early 2022 a recovery is in place, but it is shy and sales, ended at 5.1 million in 2022, are growing slow, due to the still negligible presence in the global market.
In 2023 sales are growing and after 9 months are 4.2 million (+2.4%).
While sales are moderately growing (+2.5%) in the Indian region (India, Pakistan, Bangladesh and others), in Africa are stable (+1.3%), while are declining in LATAM (-12.7%). The only fast growing region is ASEAN (+52.5%) although the presence is concentrated in Cambodia.
Actually Hero Motor is the second largest 2-wheeler manufacturer in the World, a place recovered last year, after that YADEA, the emerging Chinese EVs specialist, suddenly rolled back.
Hero Motor Company heritage
Hero is headquartered in New Delhi, India.
The company was established as a joint venture company between Honda Motor Company of Japan and Hero Group. In the year 1983 they signed a joint collaboration agreement and formed the company. The joint venture between India’s Hero Group and Honda Motor Company Japan has not only created the world’s single largest two-wheeler company but also one of the most successful joint ventures worldwide
In the 2011, the Munjal family holding, Indian Promoter Group, and Honda Motor Co Ltd Japan (Honda) entered into a Share Transfer Agreement to transfer the entire Honda’ shareholdings of 26% in the Company to the Indian Promoter Group bringing an end to the joint venture between the two promoter groups of the company.
The acquisition was completed on March 22 2011 and the shares held by Honda were transferred to the Indian joint venture partner. In addition to the Agreement the Indian Promoter Group and Honda also entered into a License Agreement which has given to the company the right and license to manufacture assemble sell and distribute certain products and their service parts under their Intellectual Property Rights.
In July 2011 the company changed their name from Hero Honda Motors Ltd to Hero MotoCorp Ltd.
In 2015 the company commences operation in their first ever plant outside India established in Villa Rica Colombia.
On 10 March 2016 Hero formally inaugurated its world-class `Global Centre of Innovation and Technology’ (CIT) in Jaipur Rajasthan. Built with an investment of Rs 850 crore the CIT will design and develop world-class products for global markets
On 12 January 2017 Hero launched new Glamour motorcycle in Argentina its first-ever global launch of a new product outside India.
In May 2017 Hero commenced commercial production at the second global manufacturing facility in Bangladesh. On 7 November 2017 Hero unveiled the Xpulse Concept motorcycle as a world premier at the EICMA annual trade show in Milan Italy.
In the 2017 Hero hit the milestone of 75 million motor sold since the 1984.