India is one of the largest motorcycle markets in the world. For a long time, India’s resident brand Hero MotoCorp has led the sales. Two Wheeler Sales Nov 2022 follow the same path and with 3,79,839 units sold in domestic market, Hero registered 15.50% YoY growth with a 32.26% market share of this list. Volume gained was 50,977 units.
Hero lost 62,986 units in volume MoM at a rate of 14.22%. Honda saw 3,53,540 units sold with its name, up from 2,56,174 units sold a year ago. YoY growth was 38.01% and MoM decline was 17%. TVS took 3rd place with 1,91,730 units. The brand saw 8.97% YoY growth and a 30.52% MoM decline.
Royal Enfield and Suzuki sold 65,750 and 63,156 units respectively and both of them registered YoY growth of 46.46% and 13.46% respectively and sales dropped MoM. In total, These 6 major 2W manufacturers’ sales accounted for 11,77,515 units last month in domestic market. Figures grew by 17% YoY and fell by 21.34% MoM with a volume loss of 3,19,506 units MoM.
In Exports, Bajaj leads the charts with 1,38,630 units shipped last month. When compared to 1,93,520 units shipped last year and 1,35,772 units shipped a month before, Bajaj registered a 28.36% YoY decline and 2.10% MoM growth. TVS showed similar patterns as Bajaj by registering 12.22% YoY decline and 4.68% MoM growth.
TVS shipped 71,912 units last month, which is almost half of Bajaj’s numbers in exports. Honda shipped 19,681 units in November 2022 and fell into the red completely by registering an 18.71% YoY and 15.97% MoM decline. Suzuki saw a 63.58% YoY growth with 16,203 units shipped with its name. MoM decline of 11.09% was not very inspiring, though.
Taking 5th and 6th spots, we have Hero MotoCorp and Royal Enfield with 11,093 and 5,006 units shipped respectively. Just like Honda, both Hero and Enfield fell into the red by registering 45.97% and 26.64% YoY decline and 5.65% and 12.28% MoM decline respectively. Total exports by these 6 2W makers accounted for 2,62,525 units and saw a 22.08% YoY and a 0.40% MoM decline.
When total sales are concerned, Hero tops the charts again with 3,90,932 vehicles in its name and registered 11.89% YoY growth and gained 41,539 units in volume YoY. Because it sold 4,54,582 units in October 2022, Hero lost 63,650 units in volume at a rate of 14% MoM. Honda inches closer to Hero’s numbers with 3,73,221 units and saw 33.11% YoY growth and a 16.95% MoM decline.
TVS and Bajaj’s numbers are very close to each other. TVS and Bajaj sold 2,63,642 and 2,62,120 units last month respectively. While TVS saw 2.24% YoY growth and a 23.50% MoM decline, Bajaj’s numbers declined in both YoY and MoM analysis. Bajaj lost 76,353 units YoY in volume which is the highest in this list.
Suzuki and Enfield’s sales fall close to each other as well with 79,359 and 70,766 units sold respectively. Both Suzuki and Enfield registered YoY growth and MoM decline each. In total, the 6 highest-sellers in the 2W segment accounted for a total sales (domestic+exports) of 14,40,040 units in November 2022.
When compared to 13,43,355 units sold in November 2021 and 17,60,600 units sold in October 2022, 2W sales in November 2022 for these 6 manufacturers grew by 7.20% YoY and declined by 18.21% MoM. Volume gained YoY stood at 96,705 units and volume lost MoM stood at 3,20,560 units.