Every leading two wheeler maker posted a YoY de-growth in March 2022 while MoM domestic sales ended on a more positive note
The second wave of COVID-19 pandemic has continued to influence two wheeler sales across India. The work from home policy coupled with a strained economy and rising fuel prices have had a devastating effect on two wheeler sales. Rising input costs which has resulted in automakers to raise prices, has further impacted sales as has been reflected in sales figures of March 2022.
Taking the leading two wheeler makers in India, sales in domestic markets in the past month ended on a dismal note. Sales de-growth was posted by Hero, Honda, TVS, Bajaj, Royal Enfield and Suzuki to the extent of 21.12 percent. Total two wheeler sales in domestic markets last month stood at 11,38,561 units, down from 14,43,320 units sold in March 2021.
Two Wheeler Sales Mar 2022 – Hero Leads
Hero MotoCorp topped sales charts with 4,15,764 units sold last month, down 23.62 percent over 5,44,340 units sold in March 2021. This was 1,28,576 unit volume growth even as the company commanded a 36.52 percent share. MoM growth on the other hand stood at 25.43 percent over 3,31,462 units sold in February 2022. Hero MotoCorp has launched the new Destini Xtec and has the new Xpulse 300 under development as well which could boost sales in the months ahead.
At No. 2 was Honda Two Wheelers with sales of 3,09,549 units in March 2022. YoY de-growth stood at 21.64 percent as against 3,95,037 units sold in March 2021. MoM sales improved 8.36 percent over 2,85,677 units sold in February 2022. Share percentage dipped from 28.64 percent held in February 2022 to 27.19 percent last month.
TVS Motors domestic sales in the past month stood at 1,96,956 units, down 2.57 percent over 2,02,155 units sold in March 2021. MoM sales improved 13.72 percent over 1,73,198 units sold in February 2022 with share percentage at 17.36 percent. Domestic sales of Bajaj Auto noted the highest YoY degrowth, dipped 40.97 percent to 1,07,081 units last month. In March 2021, sales stood at 1,81,393. MoM sales improved 10.94 percent from 96,523 units sold in February 2022.
RE sales dipped 2.82 percent last month to 58,477 units, down from 60,173 units sold in March 2021. MoM sales grew by 12.16 percent from 52,135 units sold in February 2022. Suzuki two wheeler sales dipped both on a YoY and MoM basis. Sales which had stood at 60,222 units in March 2021 dipped 15.76 percent to 15,734 units in the past month. It was also a 13.43 percent de-growth over 58,603 units sold in February 2022.
Two Wheeler Exports March 2022
Even as domestic sales remained in the red, two wheeler makers have seen somewhat better results in terms of exports. Bajaj, Hero MotoCorp, Suzuki and RE posted increased exports while TVS and Honda exports continued to dip on a YoY basis. Total exports in the past month stood at 3,15,890 units, down 0.73 percent over 3,18,204 units shipped in March 2021. MoM exports fell 10.16 percent from 3,51,599 units in February 2022.
Bajaj Auto led the list with 1,49,243 units shipped in March 2022, up 0.34 percent over 1,48,740 units sold in March 2021 while MoM shipments dipped 18.36 percent from 1,82,814 units in February 2022. Hero reported YoY growth of 7.09 percent while Suzuki and Enfield saw YoY exports increase 51.86 percent to 14,761 units and 56.33 percent to 9,200 units respectively. TVS shipments dipped 8.82 percent to 95,962 units while Honda exports fell 26.29 percent YoY to 11,794 units.
Two Wheeler Total (Sales + Exports) March 2022
Total two wheeler sales last month stood at 14,54,451 units, down 17.43 percent YoY as against 17,61,524 units sold in March 2021. MoM sales however, ended more positively, up 7.80 percent from 13,49,197 units sold in February 2022. On a MoM basis, every two wheeler maker posted more positive results except for Bajaj (-8.24 percent) and Suzuki (-9.29 percent).
Hero (4,50,694 units), Honda (3,21,343 units), TVS (2,91,918 units), Bajaj (2,56,324 units) and Suzuki (65,495 units) each posted a YoY de-growth. Sales of Royal Enfield ended with a 2.45 percent YoY growth to 67,677 units, up from 66,058 units sold in March 2021. The new RE Scram 411 was launched last month while the company is working on a new generation Bullet and Electra along with some offerings in the 650 cc segment.
Source: Bike - rushlane.com
