The two wheeler segment saw YoY sales increase in domestic markets both on YoY and MoM basis while exports dipped significantly
Taking the top 6 two wheeler OEMs into account that included the likes of Hero MotoCorp, Honda, TVS Motor, Bajaj Auto, Enfield and Suzuki, domestic sales increased by 2.80 percent on a YoY basis to 11,17,990 units in Jan 2023, up from 10,87,496 units sold in Jan 2022. MoM sales also saw even better growth of 11.56 percent from 10,02,136 units sold in Dec 2022. This was a 1,15,854 unit volume growth.
Hero MotoCorp continued to be the leading two wheeler maker in India in the New Year despite the fact that January 2023 sales fell both in terms of YoY and MoM. Hero MotoCorp sales dipped to 3,49,437 units in Jan 2023, down 2.57 percent when compared to 3,58,660 units sold in Jan 2022. It was also an 8.37 percent MoM de-growth over 3,81,365 units sold in Dec 2022. Market share stood at 31.26 percent last month, down from 38.06 percent held in Dec 2022.
Two Wheeler Domestic Sales Jan 2023
Honda two wheeler sales dipped YoY by 11.76 percent to 2,78,143 units, down from 3,15,196 units sold in Jan 2022. It was however a MoM growth of 19.30 percent from 2,33,151 units sold in Dec 2022. HMSI also brought in its first OBD2 model, New Activa with Smart Key ahead of the April 1, 2023 deadline.
TVS Motor sales increased significantly both on YoY (29.01 %) and MoM (34.15%) basis to 2,16,471 units in Jan 2023. The company had sold 1,67,795 units in Jan 2022 and 1,61,369 units in Dec 2022. TVS Motor sales were boosted by the TVS iQube electric that is currently on sale across 100 cities in India. TVS Motors also showcased the iQube ST electric scooter with better features which is expected to be launched soon in India.
Bajaj Auto sales grew by 3.34 percent YoY to 1,40,028 units in Jan 2023 up from 1,35,496 units sold in Jan 2022. It was also an 11.55 percent MoM growth from 1,25,525 units sold in Dec 2022. Sales growth was also reported for Royal Enfield at 36.15 percent YoY and 13.17 percent MoM to 67,702 units while Suzuki sales improved by 9.21 percent YoY and 61.86 percent MoM to 66,209 units.
Two Wheeler Exports Jan 2023
In export markets, total wholesales stood at 2,00,192 units, down 43.40 percent YoY from 3,53,688 units shipped in Jan 2022. MoM exports also fell 19.67 percent from 2,49,216 units exported in Dec 2022. Every two wheeler maker on this list posted a YoY de-growth except for Suzuki while on a MoM basis it was only Honda that has reported increased exports.
Bajaj Auto Limited saw the highest exports in this list. Exports stood at 1,00,679 units in the past month, down 46.43 percent from 1,87,934 units shipped in Jan 2022. MoM exports fell by 17.14 percent from 1,21,499 units in Dec 2022. TVS Motor saw a 44.13 percent YoY de-growth and MoM exports fell by 27.24 percent to 48,239 units. It currently commands a 24.10 percent share in exports.
Suzuki Two Wheelers on the other hand saw a near two fold increase in exports. Shipping 18,757 units in the past month, this was a 98.09 percent YoY growth over 9,469 units shipped in Jan 2022. MoM exports however, fell by 18.47 percent from 23,007 units shipped in Dec 2022. Honda had 18,220 units exported in the past month, relating to a 53.30 percent YoY decline but a 7.05 percent MoM growth. Hero MotoCorp (7,253 units) and RE (7,044 units) each posted a YoY and MoM de-growth in terms of exports.
This put total two wheeler wholesales (domestic+exports) at 13,18,182 units, down 8.53 percent YoY but leading to a MoM increase of 5.34 percent from 12,51,352 units sold in Dec 2022. Hero sales fell 6.25 percent YoY and 9.51 percent MoM to 3,56,690 units. The company had recorded sales of 3,80,476 units in Jan 2022 which increased to 3,94,179 units in Dec 2022 but yet related to a MoM de-growth of 9.51 percent.
At No. 2 was Honda with sales of 2,96,363 units in the past month, down 16.33 percent YoY from 3,54,209 units sold in Jan 2022. The company however, reported a MoM growth of 18.46 percent from 2,50,171 units sold in Dec 2022. TVS Motor sales improved YoY by 4.16 percent and MoM by 16.27 percent to 2,64,710 units while Bajaj Auto suffered a YoY de-growth of 25.58 percent and MoM de-growth of 2.56 percent to a total of 2,40,707 units in Jan 2023. Total wholesales of Suzuki and Royal Enfield increased both on YoY and MoM basis to 84,966 units and 74,746 units respectively.
Source: Bike - rushlane.com
