2W retail sales November 2023 grew 21.08 percent YoY and 49.05 percent MoM
The 2W retail sales November 2023, as announced by Federation of Automobile Dealers Associations (FADA), for November 2023 saw a total of 22,47,366 units sold. This was a growth of 21.08 percent when compared to 18,56,108 units sold in November 2022. It was also a staggering MoM growth of 49.05 percent as against 15,07,756 units sold in October 2023, the month in which the segment recorded lower sales despite it being a festive month.
2W Retail Sales November 2023
Positive 2W sales of 22.47 units were seen surpassing previous highest recorded in March 2020 when sales had stood at 20.7 lakh units. Every two wheeler maker on this list has seen outstanding YoY growth in November 2023 except Piaggio and Classic Legends.
Hero MotoCorp topped the list with 8,02,234 units sold in the past month, up from 6,37,534 units sold in November 2022 to command a 35.70 percent market share. It was also a significant growth over 4,17,750 units sold in October 2023 marking a near 50% MoM growth.
At No. 2 was Honda with 5,12,865 units sold last month, up from 4,63,145 units sold in November 2023. Market share, however, dipped to 22.82 percent from 24.95 percent YoY. Honda has just launched the new Honda CB350, a retro-styled motorcycle in two variants – DLX and DLX PRO. It will take on the Royal Enfield Classic 350 in its segment.
TVS Motor retail sales also improved to 3,65,295 units in the past month, up from 2,71,925 units sold in November 2022. It was also significant MoM growth from 2,51,435 units sold in October 2023.
YoY growth in retail sales was also seen by Bajaj Auto Group with 2,74,181 units sold in the last month, up from 2,11,391 units sold in November 2022. Bajaj Auto is now testing the new Pulsar P125 which has been recently spied with fresh feature and engine updates. Once launched, it will rival TVS Raider 125, Honda SP 125 and Hero’s Glamour XTEC.
Suzuki, Royal Enfield, Yamaha
There was also Suzuki Motorcycle India at No. 5 with 82,443 units sold in November 2023 with a 3.67 percent market share. It was above 72,466 units sold in November 2022. Suzuki also reported a MoM growth from 79,782 units sold in October 2023.
Royal Enfield retail sales also grew to 81,319 units in November 2023 to command a 3.62 percent market share, up from 70,139 units sold in November 2022 when market share had been at 3.78 percent. The company has introduced the new Reown outlet for sales, purchase and exchange of pre-owned RE bikes.
With 63,781 unit sales in November 2023, India Yamaha Motors reported YoY growth from 70,139 units sold in November 2022 while MoM sales also grew from 55,289 units sold in October 2023.
Electric 2W Retail Sales November 2023
In the electric two wheeler segment, it was Ola Electric that saw the most retail sales at 29,808 units in the past month. This was over 16,385 units sold in November 2022. Ola Electric has introduced special discounts through December 2023 with ‘December to Remember’ bringing the S1 X+ down by Rs 20,000. With this discount, the S1 X+ which was originally priced at Rs 1,09,999 is currently being offered at Rs 89,999 (ex-showroom).
Ather retail sales were up at 9,171 units last month from 7,839 units sold in November 2022 while Greaves Electric has seen outstanding sales growth to 4,411 units in November 2023 from 189 units sold in November 2022.
Sales of Piaggio (3,423 units) and Classic Legends (3,166) dipped on a YoY basis. There had been 3,711 units and 3,727 units sold by these two wheeler makers in November 2022. Other two-wheeler OEMs on this list have reported a drastic dip in retail sales down to 15,269 units in November 2023 from 43,863 units sold in November 2022.
