Hero MotoCorp's domestic two-wheeler dispatches rise to 489K in May

The overall sales trend since May 2022 shows fluctuating monthly volumes, with repeated seasonal spikes around September and October in Hero's domestic wholesale sales

Hero MotoCorp, India's largest two-wheeler manufacturer, reported domestic wholesale sales of 489,000 units in May 2025, marking a sharp sequential recovery from the 270,000 units sold in March 2025 and 440,000 units in April 2025.

 

However, this is only a 1.58 per cent increase over the 466,470 units dispatched in the corresponding month last year, data sourced from the Bombay Stock Exchange (BSE) and compiled by market intelligence platform Thurro showed. While it had crossed the half-million sales mark on multiple occasions over the past three years, the May 2025 numbers fall well short of the 616,710 units reported in August 2024, the highest monthly figure in the observed period. 

Hero MotoCorp 2 wheeler wholesale sales

   

Nonetheless, with May 2025 sales nearly touching the half-million mark, the company is positioned for a stronger Q1FY26 compared to the same period in the previous fiscal where it touched 1.36 million units. In the current financial year so far (April-May 2025), Hero MotoCorp has sold approximately 929,000 units, compared to around 858,000 units in the same two-month period of the previous fiscal, an increase of roughly 8.3 per cent.

 

Monthly domestic dispatches are updated by the BSE and reflect factory dispatches to dealers, not retail sales to customers.

 

The overall sales trend since May 2022 shows fluctuating monthly volumes, with repeated seasonal spikes around September and October, when most of the country celebrates major festivals. In September 2022, Hero MotoCorp had posted 507,690 units, followed by 508,310 units in April 2023 and 519,790 units in August 2023.

 

Sales had sharply declined to 349,440 units in December 2022 and again to 270,000 units in March 2025 — both of which represent the lowest points during the three-year timeline. However, these lows were followed by rapid rebounds, underscoring volatility in monthly offtake.

 

The broader pattern across FY23 and FY24 shows multiple months where wholesale numbers hovered in the 400,000 to 500,000 range. Notable exceptions to this included January 2023, which recorded an estimated 370,000 units.

 

Hero MotoCorp’s strongest quarter in the observed dataset came in the July-September quarter for FY25, when the company clocked an estimated total of over 1.7 million units, boosted by a sustained build-up to the festive season and a peak in August 2024.