Even as two wheeler domestic sales saw positive growth on a YoY basis, its MoM performance saw significant decline
Two wheeler domestic sales of these 6 automakers improved by 16.17 percent to 11,63,617 units in December 2023. This was against 10,01,624 units sold in December 2022. However, on a MoM basis, every automaker on this list has suffered a de-growth by 24.97 percent down from 15,50,849 units sold in November 2023. This was a massive volume dip of 3,87,232 units.
2W Domestic Sales December 2023
Hero MotoCorp, the largest two-wheeler manufacturer in India, has posted YoY and MoM decline in sales in December 2023. Sales dipped by a minor 0.92 percent to 3,77,842 units in December 2023 from 3,81,365 units sold in December 2022 with a 32.47 percent share on this list. On the other hand, MoM sales dipped even more by 20.67 percent from 4,76,286 units sold in November 2023.
Honda 2W sales grew by 22.71 percent on a YoY basis to 2,86,101 units in December 2023 from 2,33,151 units sold in December 2022 while MoM sales fell by 31.99 percent from 4,20,677 units sold in November 2023. Share percentage also fell from 27.13 percent held in November 2023 to 24.59 percent in the past month.
With 1,58,370 units sold last month, Bajaj Auto Limited has reported a 26.14 percent YoY growth. This was against 1,25,553 units sold in December 2022. MoM sales suffered a 27.55 percent setback, down from 2,18,597 units sold in November 2023. Suzuki domestic sales surged 68.74 percent YoY but dipped 5.62 percent MoM to 69,025 units in December 2023. However, trailing the list was Royal Enfield which has seen both a YoY and MoM de-growth by 3.36 percent and 23.75 percent respectively to 57,291 units.
2W Exports December 2023
Exports ended on a more positive note with a 5.69 percent YoY and 1.78 percent MoM growth to 2,63,393 units in December 2023. There had been 2,49,216 units and 2,58,790 units shipped in December 2022 and November 2023 respectively. In export markets, Bajaj Auto led the list with 1,24,631 units shipped last month, a 2.58 percent YoY growth but a 4.46 percent MoM decline.
TVS Motor (75,076 units), Honda (31,022 units) and Hero MotoCorp (16,110 units) each posted both YoY and MoM growth in exports. Suzuki had 10,458 units exported last month with a 54.54 percent YoY decline as well as a 35.46 percent MoM de-growth. Royal Enfield exports dipped 28.94 percent YoY to 6,096 units but made up on a MoM basis by 19.20 percent over 5,114 units shipped in November 2023.
2W Total Sales December 2023
The 6 leading two wheeler makers in India saw combined sales (domestic + exports) of 14,27,010 units in December 2023, up 14.08 percent over 12,50,840 units sold in December 2022. MoM sales however, fell by 21.14 percent from 18,09,639 units sold in November 2023.
Apart from Hero MotoCorp which has suffered a total YoY de-growth of 0.06 percent to 3,93,952 units and Royal Enfield, down 6.59 percent to 63,387 units in December 2023, every other 2W maker has posted a YoY growth. Honda (3,17,123 units), TVS (2,90,064 units). Bajaj Auto (2,83,001 units) and Suzuki (79,483 units) each saw sales growth by double digits. MoM sales on the other hand, had each of these two wheeler makers experience significantly lower numbers as most buyers had made their purchases during the festive season.
