After several months of negative growth, two-wheeler segment has registered strong sales in August 2020
Speaking about the six two wheeler brands in India, who have revealed sales as well as exports data for Aug 2020 – YoY growth is 2.78%, up from 14,53,723 units sold in August last year to 14,94,176 units sold in August 2020. MoM sales are up 28%, as compared to 12,27,745 units sold in July 2020.
Hero MotoCorp leads Domestic Sales Aug 2020- 38.06% Market Share
India’s largest two-wheeler manufacturer, Hero MotoCorp has registered 12% YoY growth in August. Sales are up from 5,24,003 units in August last year to 5,84,456 units in August 2020. MoM sales have improved by 15%, as compared to 5,06,946 units sold in July 2020. In terms of Exports, Hero MotoCorp registered a 18.66% decline in Aug 2020
In its statement, Hero MotoCorp had said that there’s strong demand from semi-urban and rural markets. The company expects this momentum to continue in the coming months owing to favourable government policies and increasing consumer confidence. Another positive factor is that the company’s production is now close to 100% and most of its showrooms are operational.
At number two is Honda with 4,28,231 units sold in August 2020. YoY sales are up 1%, as compared to 4,25,664 units sold in August last year. MoM sales have made an impressive 38% gain, as compared to 3,09,332 units sold in July 2020. This is the first time in the current fiscal that Honda’s sales have crossed the 4 lakh mark. Honda Two Wheelers exports Aug 2020 declined 41.47% in Aug 2020.
It has been made possible with factors such as improved supplies and increased production. In August, more than 90% of the company’s ecosystem was functional. Honda has also stated that it is getting a higher number of enquiries from customers, as compared to earlier times.
Bajaj leads Exports Aug 2020 – 59.37% Market Share
At number three is Bajaj Auto with total sales (domestic + exports) of 321,058 units in August. YoY sales are down 1%, as compared to 325,300 units sold in the corresponding period last year. In the domestic market, a total of 178,220 units were sold in August, which is YoY gain of 3%. MoM sales have also improved by 17%, as compared to 152,474 units sold in July 2020. Bajaj exports in August dropped by 6%, from 152,276 units in August last year to 142,838 units in August 2020.
TVS Motor Co comes fourth with 277,226 units sold in August. This is almost the same as 275,851 units sold in August last year. MoM growth is 46%, as compared to 1,89,647 units sold in July 2020. TVS Exports Aug 2020 stood at 58,888 – making it the only company in the list to register growth.
OEMs with negative YoY growth in domestic market for August 2020 include Suzuki Motorcycle India and Royal Enfield. Suzuki sales were 57,901 units in August, which is de-growth of -8%. Sales during the same period last year stood at 62,785 units. However, Suzuki’s MoM sales have improved by a whopping 84%, as compared to 31,421 units sold in July 2020. Suzuki Two Wheeler Exports Aug 2020 declined 46%.
Royal Enfield YoY sales are down -5%, from 52,904 units in August last year to 50,144 units in August 2020. MoM sales have improved by 32%, as compared to 37,925 units sold in July 2020. Royal Enfield Exports Aug 2020 declined 38%.
Two-wheeler sales could improve further in the coming months around the peak of the festive season. Preference for personal transport, bountiful monsoons, and new product launches are among the key factors that will drive two-wheeler sales in the near future.