Suzuki Motorcycle India Achieves Significant Growth – January 2023 domestic sales and exports growth comparison
In January 2023, Suzuki Motorcycle India total sales at 84,966 units. Of this, domestic sales accounted for 66,209 units. The remaining 18,757 units made their way to export markets. Total YoY growth is up at 21.47 percent. And total volume growth at 14,874 units up from sales of 70,092 units in Jan 2022. A year ago, domestic sales were reported at 60,623 units, and exports at 9,469 units.
Year-over-Year domestic sales growth stood at 9.18 percent at volume growth of 5,586 units. YoY growth in exports was reported at 98.03 at volume growth of 9,288 units. In January 2023, domestic sales accounted for 78.23 percent of total sales. And exports made up the remainder 21.77 percent. There has been a significant YoY increase in total sales and exports, with a 21.47 percent and 98.03 percent growth, respectively. This indicates strong growth in the company’s performance in both the domestic market and international market.
Suzuki 2W Sales Jan 2023
Domestic market sales saw slower growth of 9.18 percent but still showed an increase in volume by 5,586 units. Exports were reported at significant increase in both percentage and volume, which highlights the SMI’ success in expanding its international market presence. And indicates a significant contribution to overall growth of the company.
In comparison, a year earlier, domestic sales accounted for 86.39 percent of volumes, and exports for 13.61 percent. Percentage of domestic sales decreased from 86.39 percent in January 2022 to 78.23 percent in January 2023, indicating a shift towards a greater proportion of exports in the company’s overall sales. As overall volume increased, domestics were reported at growth. Percentage of exports increased from 13.61 percent in January 2022 to 21.77 percent in January 2023. Volumes almost doubled and showcased Suzuki’s success in expanding its international market presence.
Innovations – Suzuki flex fuel motorcycle working prototype
As Suzuki Motorcycle India goes from strength to strength with an increasing market share in India, it’s got further growth in its sights. At auto Expo 2023, SML showcased a flex fuel motorcycle working prototype. Flex fuel vehicles operate on petrol, ethanol, or a combination of both. The engine system adjusts air/fuel ratio based on fuel type for increased fuel efficiency and reduced emissions. Using flex fuels produced domestically improves energy security. And thereby reduces dependence on fuel imports. It’s also designed to emit lower levels of pollutants. However, availability of flex fuels varies by region. And is an important research focus area.
India has outlined its roadmap for ethanol blending, 2020 – 2025. And is promoting the use of ethanol as a fuel to meet carbon emission reduction goals. The government targets 20 percent ethanol blend petrol by 2025. Efforts to reduce greenhouse gas emissions and promote cleaner forms of energy. Additionally, financial incentives and supportive policies have been announced to encourage production and distribution of ethanol.
Suzuki – steady demand both from the domestic and overseas markets in the future too
Satoshi Uchida, Managing Director, Suzuki Motorcycle India Pvt Ltd. said, “The two-wheeler industry continues to experience some headwinds. However, we at Suzuki Motorcycle India continue to experience robust demand resulting in a significant double digit year-on-year growth of 21.2% in January 2023. We are grateful to our customers, dealer partners and staff members who supported us to carry on this sales momentum. We are confident that we will keep experiencing steady demand both from the domestic and overseas markets in the future too”.
To put sales in perspective, Suzuki Motorcycle India exported more two wheelers last month than Honda Motorcycle and Scooter India (HMSI). And Honda is the largest scooter seller in India with sales in lakhs each month. Suzuki is now surpassing even Royal Enfield’s total sales. For January 2023, Suzuki surpassed Royal Enfield’s exports, and trailed domestic sales by about 1.5k units.