Hero Motor 2023. Global Sales Improved 5.9% Consolidating World’s Ranking Second Place

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Hero Xpulse 400
Hero Xpulse 400

Hero Motors Global Sales started improving since early 2022 and a positive pathway is in place, with full year 2023 ended at 5.7 million sales (+5.9%), still 2.3 million below the 2018 all-time 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

In 2023, Hero Motor confirmed the rule of 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.

Hero started improving sales since early 2022 and a positive pathway is in place, with full year 2023 ended at 5.7 million sales (+5.9%), still 2.3 million below the 2018 all-time record.

While sales are moderately growing (+6.2%) in the Indian region (India, Pakistan, Bangladesh and others), in Africa are stable (+0.2%), while are declining in LATAM (-10.1%). 

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-xtreme-160r
hero-xtreme-160r

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

In the 2017 Hero hit the milestone of 75 million motor sold since the 1984.

Hero Xtreme 200
Hero Xtreme 200