Honda two wheeler sales both in domestic and export markets fell considerably on a YoY basis but saw some improvement MoM
Honda Motorcycle and Scooter India has been experiencing shrinking sales over the past months. Total sales (domestic + exports) in July 2023 fell 23.73 percent to 3,38,310 units, down from 4,43,543 units sold in July 2022. This was a volume de-growth of 1,05,233 units.
Honda 2W Sales July 2023
Honda 2W sales in domestic markets dipped 22.80 percent YoY to 3,10,867 units in July 2023. This was a 91,834 unit volume de-growth as compared to 4,02,701 units sold in July 2022. The domestic market currently commands a 91.89 percent share while exports hold an 8.11 percent share.
Exports also fell by 32.81 percent to 27,443 units in July 2023. This was against 40,842 units sold in July 2022 relating to a 13,399 unit volume de-growth. Taking MoM sales into account, Honda has experienced growth both in terms of domestic sales and exports.
Total sales in the past month (domestic + exports) rose 4.39 percent MoM from 3,24,093 units sold in June 2023. There had been 3,02,756 units sold in domestic markets relating to a 2.68 percent MoM growth while exports improved by 28.62 percent over 21,337 units shipped in June 2023.
New Product Launch and Network Expansion
There is a new Honda motorcycle set to be unveiled on 2nd August 2023. This bike is in the 150-160cc segment and is likely to be called Honda SP160. It is being launched in the premium commuter range and prices are likely to start from Rs. 1.05-1.15 lakh (ex-showroom).
On 31st July 2023, HMSI introduced the new Dio 125 priced at Rs 83,400. It also received the H-Smart tech variant with Rs 91,300 price tag. This TVS Ntorq 125 and Suzuki Access 125 rival comes in with attractive colour options and draws its power via the same engine that also powers Honda Activa 125 and Grazia 125.
Honda is offering a 10-year warranty package, which includes three years of standard warranty along with extension of seven years on this new Dio 125 scooter. Bookings for this 125cc Dio scooter have already started with deliveries expected to commence soon across the country. In July 2023, HMSI also expanded its network presence to Bihar. The company inaugurated a new dealership in Purnia (Bihar) and a BigWing in Cuttack (Odisha).
