Motorcycle sales dipped YoY and MoM in July 2023 with top 5 players reported de-growth
The motorcycle market in India is highly competitive. OEMs have been keenly introducing new products and models with feature updates but has yet failed to see much growth in July 2023. Hero MotoCorp has posted an overall decline in sales along with TVS Motor and Bajaj Auto in the past month.
Top 10 Motorcycle Sales July 2023
Taking the top 10 motorcycles sold in India in July 2023, sales fell both YoY and MoM. Sales stood at 6,77,961 units in July 2023, down 4.27 percent from 7,08,168 units sold in July 2022. This related to a 30,207 unit volume de-growth. MoM sales also fell by 11.61 percent from 7,66,978 units sold in June 2023 with volume de-growth at 89,017 units.
Hero Splendor led the segment with sales of 2,28,847 units sold in July 2023. This was an 8.61 percent de-growth from 2,50,409 units sold in July 2022. The Splendor currently commands a 33.76 percent share on this list, up from 31.08 percent held in June 2023. Sales in June 2023 had been at 2,38,340 units relating to a 3.98 percent MoM de-growth.
Hero Splendor was the best-selling two wheeler in July 2023, scaling over the Honda Activa of which 1,35,327 units were sold. It was followed by the Honda Shine at No. 2 with 1,03,072 units sold in July 2023. This was a 10.11 percent YoY de-growth over 1,14,663 units sold in July 2022. MoM sales fell by 21.87 percent from 1,31,920 units sold in June 2023.
Sales de-growth was also reported for the Bajaj Pulsar with 87,958 units sold in July 2023, a 13.69 percent de-growth over 1,01,905 units sold in July 2022. MoM sales fell by 17.96 percent from 1,07,208 units sold in June 2023. The top 10 list of motorcycles sold in July 2023 also included the Hero HF Deluxe which has also posted YoY and MoM de-growth to 65,931 units. There had been 97,451 units and 89,275 units sold in July 2022 and June 2023 respectively.
Honda Unicorn Posts YoY and MoM Sales Growth
Honda Unicorn and TVS Raider were the only two motorcycles on this list to post YoY and MoM growth. At No. 5 was Honda Unicorn with 40,119 units sold in July 2023, up 258.11 percent YoY from 11,203 units sold in July 2022. MoM sales also saw a 50.30 percent growth from 26,692 units sold in June 2023. Increased sales could be due to the updated Honda Unicorn launched at Rs 1.10 lakh, which now gets OBD-2 compliance and special warranty program.
TVS Raider also showed YoY and MoM growth in sales to 36,900 units in July 2023, up 126.24 percent from 16,310 units sold in July 2022. MoM sales were higher by 7.55 percent from 34,309 units sold in June 2023. At No. 7 was Hero Passion with 34,253 units sold last month, up 68.75 percent from 20,298 units sold in July 2022. MoM sales however, dipped 27.97 percent from 47,554 units sold in June 2023.
The list also included Bajaj Platina (33,557 units), RE Classic 350 (24,889 units) and TVS Apache (22,435 units) out of which it was only the RE Classic 350 that posted YoY sales growth while all three saw MoM decline in sales.
