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Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, in collaboration with its authorised distributor CG Motors, has announced its business expansion plans in Nepal. CG Motors is set to rapidly expand the sales and service network across Nepal to meet the increasing demand from customers.
Now, the battery-swapping electric scooter leader is adding another pin to the map: Nepal. As a new energy venture, Nebula is committed to leading the way towards an environmentally sustainable and energy-independent Nepal. Both are key features for the Nepal market. “We
Solidifying its leadership position of 23 consecutive years, Hero MotoCorp, globally the largest manufacturer of scooters and motorcycles closed the financial year 2023-24 (April 1, 2023-March 31, 2024) with sales of 56,21,455 units of motorcycles and scooters, registering growth of 10% in the fourth quarter (Jan-Mar’24) of the fiscal year.
The Chennai-based scooter motorcycle and moped manufacturer registered total two-wheeler wholesales of 30,39,436 units last year, surpassing the 3-million mark for the first time, and posting strong 24% YoY growth (CY2022: 24,57,232 units). The Jupiter and the NTorq 125 are the two best-selling scooters for TVS.
The Chennai-based scooter motorcycle and moped manufacturer registered total two-wheeler wholesales of 30,39,436 units last year, surpassing the 3-million mark for the first time, and posting strong 24% YoY growth (CY2022: 24,57,232 units). The Jupiter and the NTorq 125 are the two best-selling scooters for TVS.
As accurately forecast last month to go beyond the 900,000-unit milestone , retail sales of electric scooters and motorcycles in FY2024 have hit a record 935,000 units and counting, as a result of best-ever monthly sales of nearly 130,000 units in March 2024. Just 3,460 units behind Ather, Bajaj Auto has seen demand surge for its Chetak.
The rate of decline has slowed down and it shouldn’t be long before exports of scooters, motorcycles and mopeds are finally back on growth road. If the same pace of growth is maintained or exceeded, it can be surmised that exports of made-in-India scooters, motorcycles and mopeds will notch growth in CY2024 and for fiscal year 2025.
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