The 2W retail sales September 2023 charts showed a positive note for growth and sales with majority of OEMs
India being one of the largest 2W markets in the world, is of primary importance for OEMs. Add to it festive season and a large potential for sales, 2W retail sales September 2023 turned out pretty interesting even with numbers from August 2023. As usual, Hero topped the charts, followed by Honda, TVS, Bajaj, Suzuki, Royal Enfield, Yamaha, Ola, Ather, Greaves (Ampere), Piaggio, Classic Legends, Okinawa and others, in order.
2W Retail Sales September 2023
Like clockwork, Hero MotoCorp has held the top position again, with 3,51,781 units sold last month. Market share was a staggering 26.81%, which is up from 24.99% share just a year ago. Then partner, now rival Honda Motorcycles and Scooters India (HMSI), took 2nd place with 3,48,899 units sold last month.
Honda’s market share is around the same vicinity as Hero MotoCorp’s at 26.59%, down from 27.67% share last year. Combined, both Hero and Honda sell more than half of the total 2W sales in India, which is quite significant. In 3rd position, we have TVS Motor with 2,28,852 units sold under its name.
TVS holds a 17.44% market share in Indian 2W space, which the company increased from the 16.56% share it had a year ago. The company is spearheading into premium 2W space with TVS X and Apache RTR 310 launched recently. Combined, Bajaj and Chetak managed to secure 4th place in this list.
Bajaj sold close to 1.5 lakh units and held an 11.38% market share, which the company increased from the 10.76% market share it possessed in September 2022. Suzuki India has strengthened its foothold in India from 5.28% market share last year to 5.60% last month. The 73,452 units Suzuki sold in September 2023 was commendable as opposed to 56,893 units in 2022.
Royal Enfield lost market share YoY
Due to the increase in sales with other brands, Royal Enfield has lost quite a bit of market share YoY. From 5.37% last year to 4.81% last month. Despite this, sales grew YoY as Royal Enfield sold 63,084 units last month as opposed to 57,910 units sold last year. Yamaha India sold 49,510 units and secured 3.77% market share, down from 4.11% YoY.
Leading the Indian 2W startups in India is Ola Electric with 18,647 units sold last month. With Ola S1X and Ola S1X+, the company expects a new ceiling in sales. It held 1.42% market share, up from 0.92% last year, which is commendable with double the sales YoY. Ather saw 7,123 units and held 0.54% market share.
Ampere by Greaves sold 3,605 e-scooters last month, followed by Piaggio selling 2,925 Vespa and Aprilia 2Ws, Classic Legends selling 2,427 Jawa and Yezdi bikes, Okinawa with 1,789 units and other EVs combined, had 10,693 units to their names. In total, 2W retail sales accounted for 13,12,101 units which is a clear YoY growth as opposed to 10,78,286 units sold in September 2022.
FADA’s remarks
Commenting on September 2023 2W retails, FADA President, Mr. Manish Raj Singhania said, In comparison to pre-COVID benchmarks, the sector enjoyed a robust 14% uplift, with the 2W category registering growth (2%) for the first time. The 2W segment witnessed positive shifts as the festive season approaches. With the introduction of new models and attractive promotional offers, demand increased, especially in rural areas, fostering improved market sentiments.
This uptick in demand was accompanied by heightened customer walk-ins and an overall positive market response. Additionally, better stock availability compared to the previous year and a favourable reception to newly launched entry-level products have set an optimistic tone for the upcoming festive season.
Source: Bike - rushlane.com
