New Delhi: The Indian two-wheeler market, which was expected to experience a seismic turnaround during the festive season, fell short of market expectations, registering a modest year-on-year (YoY) growth of 1.33 per cent in October 2022. In comparison, the domestic four wheeler segment grew by 29.26% yoy during the same period.
According to data provided by Federation of Automobile Dealers Associations (FADA) President Vinkesh Gulati, the domestic two-wheeler industry sold 14,97,021 motorcycles and scooters in October 2022 as against 14,77,335 units in October 2021. Sales increased in September 2022. up to 16,49,062 units.
Hero Motocorp
Hero MotoCorp, the country's largest two-wheeler maker, saw a negative 16.10% decline in sales in October 2022, selling 4,42,825 units. In the same month last year, the company had sold 5,27,779 units. Exports stood at 11,757 units in October 2021, as against 20,191 units in October 2021.
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“With the festivities of Dussehra and Diwali – which trigger record retail purchases – falling in the month of October this year, October's remittance sales are not as compared to previous years, when festival days usually fall between October and November. are spread over months, Hero MotoCorp said in a statement.
Honda
Honda Motorcycle and Scooter India (HMSI), Hero MotoCorp's closest rival, reported a 3.97% increase in overall sales to 4,49,391 units in October 2022. In the same month last year, the company sold 4,32,229 units.
Sales in the domestic market stood at 4,25,969 units as against 3,94,645 units in the previous month, showing a growth of 7.94%. Exports fell 37.68% to 23,422 units in October from 37,584 units in the previous month.
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Atsushi Ogata, Managing Director, President and CEO, HMSI said, "This year's festive season marks the beginning of real growth and positive sentiment after a challenging two-year period."
The company's domestic portfolio includes Activa, Dio Sport Edition and Shine.
TVS
TVS, one of the fastest growing EV players in the domestic two-wheeler market from ICE, witnessed a growth of 7.94% in total domestic dispatches in October 2022 from 2,58,744 in the same month last year.
Sales increased from 355,033 units in October 2021 to 360,288 units in October 2022, representing a growth of 2% for the company. TVS Motorcycles sold 164,568 units in the most recent month as compared to 172,361 units in October 2021. TVS scooter sales grew 20% from 113,124 units in October 2021 to 135,190 units in October 2022.
The company's total exports registered sales of 82,816 units in October 2022, as compared to sales of 95,191 units in October 2021. As against 82,736 units sold in October 2021, 68,696 units of two-wheelers were exported in October 2022.
Bajaj Auto
Pune-based two-wheeler maker Bajaj Auto reported a 10% decline in overall sales in October at 3,95,238 units. Additionally, the company reported domestic sales of 2,06,131 units in October 2022, up 3.72 per cent from 1,98,738 units sold in the corresponding month of the previous year.
On the other hand, two-wheeler exports fell 29% to 1,35,772 units as compared to 1,92,565 units in October 2021. Commercial vehicle sales rose 10% to 53,335 units last month as against 48,312 units in the same period last year.
The company offers a variety of scooter models in India, including Pulsar, Platina, CT 100, Avenger and Dominar.
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Royal Enfield
In October 2022, Royal Enfield registered an increase of 86% in total sales to 82,235 units. In contrast, the business sold 44,133 units in October 2021. Exports grew 62% to 5,707 units from 3,522 in October 2021.
It is interesting to note that in October 2022, the company experienced the highest growth in the domestic market. It dispatched 76,528 units to dealers, an increase of 88% as compared to 40,611 units in the same month last year.
The Classic 350, Hunter 350, Meteor 350, Bullet 350 and Electra 350 series are the company's domestic offerings. B Govindarajan, CEO, Royal Enfield said that the demand we saw at the start of the festive season has continued well into this month, with October witnessing the highest sales in a month.
suzuki As compared to 56,780 units sold during the same period last year, Suzuki Motorcycles sold 69,634 units in October 2022, a growth of 22.63 per cent.