Indian two-wheeler industry sees marginal growth in festive month; Hero MotoCorp witnesses 16% drop in sales
The domestic two-wheeler industry saw total sales of 14,97,021 motorcycles and scooters in the domestic market in October 2022, as against 14,77,335 units in October 2021.
- Nov 4, 2022,
- Updated Nov 4, 2022 3:57 PM IST
Indian two-wheeler, which was expected to see a seismic shift during the festive period, failed to live up to the market expectations and recorded a marginal year-on-year (YoY) growth of 1.33 per cent for October 2022 in the Indian market. In comparison, the domestic four-wheeler segment saw a 29.26 per cent YoY growth in the same period.
The domestic two-wheeler industry saw total sales of 14,97,021 motorcycles and scooters in the domestic market in October 2022, as against 14,77,335 units in October 2021, according to the data provided by Federation of Automobile Dealers Associations (FADA) Chairman Vinkesh Gulati. Sales in September 2022 were higher at 16,49,062 units.
Hero MotoCorp
The country’s largest two-wheeler manufacturer Hero MotoCorp observed a sales drop of negative 16.10 per cent and sold 4,42,825-unit in October 2022. The company managed to sell 5,27,779 units in the same month last year. Exports stood at 11,757 units as against 20,191 units in October 2021.
"With festivals of Dussehra and Diwali -- which triggers record retail buying -- occurring in the month of October this year, the dispatch sales of October are not comparable to the previous years, when the festival days are usually spread across the months of October and November," Hero MotoCorp revealed in a statement.
Honda Motorcycle and Scooter India
Honda Motorcycle & Scooter India (HMSI), which is the closest rival of Hero MotoCorp by volume, reported a 3.97 per cent increase in total sales at 4,49,391 units in October 2022. The company sold 4,32,229 units in the same month last year.
In the domestic market, sales were at 4,25,969 units as against 3,94,645 units in the year-ago month, a growth of 7.94 per cent. Exports were lower by 37.68 per cent at 23,422 units as compared to 37,584 units in October last year.
Atsushi Ogata, Managing Director, President and CEO of HMSI, said, "This year's festival season has ushered in a period of real growth & positive sentiment after a challenging period of two-years.”
The company’s domestic portfolio consists of Activa, Dio Sport Edition and Shine Celebration Editions.
TVS Motor Company
TVS, which is among the fastest growing ICE to EV players in the domestic two-wheeler market, saw a 7.94 per cent increase in total domestic dispatches at 2,75,934 units in October 2022 as against 2,58,744 in the year-ago period.
The company also registered a growth of 2 per cent with sales increasing from 355,033 units in October 2021 to 360,288 units in October 2022. TVS’ motorcycle sales stood at 164,568 units in the last month as against sales of 172,361 units in October 2021 and its scooter registered a growth of 20 per cent 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 against sales of 95,191 units in October 2021. Two-wheeler exports registered sales of 68,696 units in October 2022 as against 82,736 units in October 2021.
Bajaj Auto
The Pune-based two-wheeler maker Bajaj Auto reported a 10 per cent decline in total sales at 3,95,238 units in October. The company also reported domestic sales of 2,06,131 units in October 2022, up 3.72 per cent as against last year's sales of 1,98,738 units.
On the other hand, two-wheeler exports declined 29 per cent to 1,35,772 units as against 1,92,565 units in October 2021. Total commercial vehicle sales rose 10 per cent at 53,335 units last month as against 48,312 units in the corresponding period last year.
The company’s India offerings include models like Pulsar, Platina, CT 100, Avenger and Dominar as well as Chetak electric scooters.
Royal Enfield
Royal Enfield reported an 86 per cent increase in total sales at 82,235 units in October 2022. In comparison, the company sold 44,133 units in October 2021. Exports grew by 62 per cent at 5,707 units as against 3,522 units in October 2021.
Interestingly, the company also recorded the highest growth in the domestic market in October 2022. Its dispatches to dealers were at 76,528 units as compared to 40,611 units in the year-ago month, registering a growth of 88 per cent.
The company’s domestic offerings are Classic 350, Hunter 350, Meteor 350, Bullet 350 and Electra 350 series.
B Govindarajan, CEO of Royal Enfield, said, "The momentum for demand that we witnessed at the start of the festive season has continued well into this month with October bringing in the highest-ever sales in a month.”
Suzuki Motorcycle India
Suzuki Motorcycles sold 69,634 units in October 2022, up 22.63 per cent against 56,780 units sold over the same period last year.
Indian two-wheeler, which was expected to see a seismic shift during the festive period, failed to live up to the market expectations and recorded a marginal year-on-year (YoY) growth of 1.33 per cent for October 2022 in the Indian market. In comparison, the domestic four-wheeler segment saw a 29.26 per cent YoY growth in the same period.
The domestic two-wheeler industry saw total sales of 14,97,021 motorcycles and scooters in the domestic market in October 2022, as against 14,77,335 units in October 2021, according to the data provided by Federation of Automobile Dealers Associations (FADA) Chairman Vinkesh Gulati. Sales in September 2022 were higher at 16,49,062 units.
Hero MotoCorp
The country’s largest two-wheeler manufacturer Hero MotoCorp observed a sales drop of negative 16.10 per cent and sold 4,42,825-unit in October 2022. The company managed to sell 5,27,779 units in the same month last year. Exports stood at 11,757 units as against 20,191 units in October 2021.
"With festivals of Dussehra and Diwali -- which triggers record retail buying -- occurring in the month of October this year, the dispatch sales of October are not comparable to the previous years, when the festival days are usually spread across the months of October and November," Hero MotoCorp revealed in a statement.
Honda Motorcycle and Scooter India
Honda Motorcycle & Scooter India (HMSI), which is the closest rival of Hero MotoCorp by volume, reported a 3.97 per cent increase in total sales at 4,49,391 units in October 2022. The company sold 4,32,229 units in the same month last year.
In the domestic market, sales were at 4,25,969 units as against 3,94,645 units in the year-ago month, a growth of 7.94 per cent. Exports were lower by 37.68 per cent at 23,422 units as compared to 37,584 units in October last year.
Atsushi Ogata, Managing Director, President and CEO of HMSI, said, "This year's festival season has ushered in a period of real growth & positive sentiment after a challenging period of two-years.”
The company’s domestic portfolio consists of Activa, Dio Sport Edition and Shine Celebration Editions.
TVS Motor Company
TVS, which is among the fastest growing ICE to EV players in the domestic two-wheeler market, saw a 7.94 per cent increase in total domestic dispatches at 2,75,934 units in October 2022 as against 2,58,744 in the year-ago period.
The company also registered a growth of 2 per cent with sales increasing from 355,033 units in October 2021 to 360,288 units in October 2022. TVS’ motorcycle sales stood at 164,568 units in the last month as against sales of 172,361 units in October 2021 and its scooter registered a growth of 20 per cent 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 against sales of 95,191 units in October 2021. Two-wheeler exports registered sales of 68,696 units in October 2022 as against 82,736 units in October 2021.
Bajaj Auto
The Pune-based two-wheeler maker Bajaj Auto reported a 10 per cent decline in total sales at 3,95,238 units in October. The company also reported domestic sales of 2,06,131 units in October 2022, up 3.72 per cent as against last year's sales of 1,98,738 units.
On the other hand, two-wheeler exports declined 29 per cent to 1,35,772 units as against 1,92,565 units in October 2021. Total commercial vehicle sales rose 10 per cent at 53,335 units last month as against 48,312 units in the corresponding period last year.
The company’s India offerings include models like Pulsar, Platina, CT 100, Avenger and Dominar as well as Chetak electric scooters.
Royal Enfield
Royal Enfield reported an 86 per cent increase in total sales at 82,235 units in October 2022. In comparison, the company sold 44,133 units in October 2021. Exports grew by 62 per cent at 5,707 units as against 3,522 units in October 2021.
Interestingly, the company also recorded the highest growth in the domestic market in October 2022. Its dispatches to dealers were at 76,528 units as compared to 40,611 units in the year-ago month, registering a growth of 88 per cent.
The company’s domestic offerings are Classic 350, Hunter 350, Meteor 350, Bullet 350 and Electra 350 series.
B Govindarajan, CEO of Royal Enfield, said, "The momentum for demand that we witnessed at the start of the festive season has continued well into this month with October bringing in the highest-ever sales in a month.”
Suzuki Motorcycle India
Suzuki Motorcycles sold 69,634 units in October 2022, up 22.63 per cent against 56,780 units sold over the same period last year.
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