Honda Motorcycle and Scooter India reports growth in domestic wholesales and exports in March 2021
Honda reports sales growth for March 2021 with domestic wholesales of just below 4 lakh units. Sales is reported at 3,95,037 units, up from 2,45,716 units. Growth stood at 60.77 percent at volume gain of 1,49,321 units. Best sellers for domestic market were Activa, CB Shine, Dio, Unicorn, Livo, Grazia and Dream.
Exports were flat at 16k units. In March 2020, 16983 units were exported. Exports top performers were Navi, Dio, CB Shine, X-Blade, Hornet, Hness CB 350. Cumulative sales is reported at 4,11,037 units, up from 2,61,699 units. Volume gain stood at 1,49,338 units at 57.06 percent growth.
MoM domestic sales fell from 4,11,578 units at volume loss of 16,541 units at 4.02 percent decline. Cumulative MoM sales fell from 4,42,696 units at volume loss of just over 30k units.
HMSI FY21 sales
FY21 posed great difficulties in terms of business functionality in the first couple of months. Thereafter, traditional purchases during the festive season helped boost sales, and this was followed up by a fairly active Q4. However, steady sales in recent months haven’t been enough to help manufacturers come into the green. Resultantly, auto manufacturers find themselves in the red at the end of FY21.
Honda two wheelers ended the year at 19.04 percent decline. Cumulative sales fell to 40,73,182 units, down from 50,31,297 units at volume loss of about 9.6 lakh units. Export volumes fell to 2,017,310 units, down from 3,24,725 units at volume loss of 1,17,415 units. Domestic sales fell by 17.86 percent. Wholesales contracted to 38,65,872 units, down from 40,06,572 units at volume loss of 8,40,700 units.
Honda market presence
In recent times, the mass market two-wheeler market has shown great strength of character, proving to be a commodity that most would be willing to consider. Living amidst lockdowns and curfews owing to Covid-19 pandemic, folks are increasingly feeling the need for a two-wheeler.
While demand is at a natural high, Honda’s top seller is the Activa scooter as against Hero’s Splendor. Hero HF Deluxe is another motorcycle on the podium. Honda on the other hand offers CB Shine as its bestselling motorcycle. As and when Honda were to introduce an affordable mass market motorcycle, it’s likely the product could tip the scales largely in their favour. Rural markets form the backbone of such mass market motorcycles.
HMSI has already begun treading on a new path with the launch of its 350cc offering. The move has given Honda yet another segment to compete in, and thereby add to sales. This premium move allows Honda to be an attractive proposition to a new buyer group, as well as gives current customers a chance to stay within the brand at a future time. Honda has plans to introduce more premium mid-segment bikes made in the country in due course of time.
Despite difficulties in 2021, Honda has been able to infuse much excitement in the market. The company brought in the Hness CB350, and CB350 RS. Then there was the CB500X, CBR 650R and CB 650R.
Source: Bike - rushlane.com
