Honda two wheeler YoY domestic sales in June 2022 reported at growth, MoM sales too in the green
In June 2022, Honda domestic sales were reported at 3,55,560 units, up from 2,12,453 units YoY. Volume gain stood at 1,43,107 units at 67.36 percent growth. Honda’s domestic business is so large it accounts for over 90 percent of total business volume. Exports last month rose to 28,322 units from 20,044 units.
Volume gain stood at 8,278 units at 41.30 percent growth. Total sales were up at 3,83,882 units from 2,32,497 units. Volume gain stood at 1,51,385 units at 65.11 percent growth. The YoY period up for comparison though isn’t without incident. A year earlier, businesses functioned at limited capacity in accordance with local rulings in a bid to curb the spread of Covid-19.
Sales growth in Q2 2022
MoM domestic sales are up from 3,20,844 units at volume gain of just under 35k units. Sales growth stood at 10.82 percent. Exports fell from 32,344 units at volume loss of 4k units. Sales decline is reported at 12.44 percent. Total sales were up from 3,53,188 units at 30,694 units volume gain. Growth stood at 8.69 percent.
In Q1 2022, Honda 2W sales stood at 9,10,422 units, down by a quarter from 12,23,331 units. In Q2 2022, sales stood at 9,95,136 units, up from 4,91,316 units. The comparable quarter in 2021 was a period of constraint owing to Covid-19 regulations. Top selling models from Honda include Activa, CB Shine, Dio, Grazia, CB350, Unicorn, Hornet, etc.
Activa scooter lead uncontested
There’s rather little that perturbs Honda two wheelers’ monthly sales. On the domestic front. Bajaj and TVS are the only two manufacturers that could vie for 2nd spot, but the sales gap isn’t an easy one to transcend. The same is true for Honda in comparison to Hero’s top of the table clout. The situation ensures Honda 2Ws continue to sit comfortably at 2nd spot, month after month. In truth, it’s been years now.
In fact, Honda’s two wheeler business model is unique. While others in the top order rely on a motorcycle as a bestseller, Honda’s bestseller is a scooter. In this regard, Activa hasn’t only stood the test of time but has gone from strength to strength. This unique proposition ensures that scooter buyers continue to flock to Honda in droves. Add to this its bestselling motorcycle, CB Shine. Sales volume for which is over a lakh each month. The only other manufacturer that follows the same pattern is Suzuki with its Access.
Growth expectation for FY23
Atsushi Ogata, Managing Director, President & CEO, Honda Motorcycle & Scooter India said, “The growth expectations with which we set out in the beginning of FY ’23 is gradually turning into a reality. Timely arrival of monsoons has impacted the economic indicators favourably. We expect the coming months to sustain this upward trend as more customers look for two-wheeler mobility options.”
With H1 results being a mixed bag, the industry is now focused on a favourable outcome for the monsoon season. This will be quickly followed up by the onset of a rather long festive season.
Source: Bike - rushlane.com
