Two wheeler sales saw a YoY and MoM growth in domestic markets with Bajaj Auto posting triple digit
Sales figures for 6 leading OEMs in the Indian two-wheeler segment for the month of April 2023 show growth across domestic markets. Exports on the other hand dipped YoY but saw a reasonable improvement on MoM basis. Total sales in the two wheeler segment as reported by 6 leading automakers stood at 15,15,492 units in April 2023. This was a YoY growth of 3.41 percent when compared to 14,65,544 units sold in April 2022. MoM sales also saw a 4.11 percent improvement from 14,55,700 units sold in March 2023.
Sales in domestic markets in April 2023 stood at 12,75,397 units, up 17.10 percent over 10,89,187 units sold in April 2022. This was a volume growth of 1,86,210 units. MoM sales also saw a 4.01 percent growth over 12,26,262 units sold in March 2023 relating to a volume growth of 49,135 units.
Two Wheeler Domestic Sales April 2023
Hero MotoCorp headed the list with Honda close behind followed by TVS, Bajaj Auto, Royal Enfield and Suzuki. Hero MotoCorp posted a YoY and MoM decline in sales in the past month. Sales stood at 3,86,184 units, down 3.09 percent over 3,98,490 units sold in April 2022. This was a volume de-growth of 12,306 units with Hero commanding a 30.28 percent share. MoM sales also fell by 23.18 percent from 5,02,730 units sold in March 2023 leading to a volume de-growth of 1,16,546 units.
At No. 2 was Honda with two wheeler sales of 3,38,289 units in the past month, up 6.14 percent over 3,18,732 units sold in April 2022. Sales of Honda improved more significantly on a MoM basis from 1,97,512 units sold in March 2023. Share percentage improved from 16.11 percent held in March 2023 to 26.52 percent last month.
TVS Motor also saw a YoY growth in sales in April 2023 by 29.02 percent with 2,32,956 units sold in the said month. This was an improvement over 1,80,553 units sold in April 2022. Currently commanding an 18.27 percent share, the company has reported a MoM decline in sales in domestic markets by 3.25 percent from 2,40,780 units sold in March 2023. Last month, the company also announced launch of a new variant of its 125cc premium commuter motorcycle – Raider 125.
Bajaj Auto Limited has seen improvement in domestic sales last month. Sales which had stood at 83,233 units in April 2022 improved by 118.46 percent to 1,81,828 units in April 2023. It was also a MoM growth of 19.40 percent over 1,52,287 units sold in March 2023. Bajaj Auto currently holds a 14.26 percent share on this list. Royal Enfield and Suzuki sales stood at 68,881 units and 67,259 units respectively in April 2023 with both posting YoY growth. MoM sales of RE also improved by 15.02 percent while Suzuki sales dipped 7.95 percent on MoM basis.
Two Wheeler Exports April 2023
Exports dipped 36.21 percent YoY but improved by 4.64 percent MoM to 2,40,095 units in April 2023. This was against 3,76,357 units shipped in April 2022 and 2,29,438 units exported in March 2023. Every OEM on this list posted YoY de-growth except for Suzuki while Bajaj and Honda were the only two to post MoM growth. Bajaj Auto led in terms of exports in April 2023 with 1,06,157 units exported relating to a 43.68 percent YoY decline but 12.08 percent MoM growth.
TVS Motor posted YoY and MoM decline in exports to 61,830 units. Honda too saw exports fall to 36,458 units in April 2023 while Honda exports improved by 152.03 percent MoM. Suzuki exports were at 21,472 units, up 21.59 percent over 17,660 units shipped in April 2022 while MoM exports fell by 12.41 percent. Hero (9,923 units) and Enfield (4,255 units) each posted YoY and MoM decline in exports.
Two Wheeler Total (sales + exports) April 2023
Thanks to increased domestic sales, there was a YoY and MoM growth in total two wheeler sales in April 2023. It was 15,15,492 units in April 2023 up 3.41 percent when compared to 14,65,544 units sold in April 2022 and an increase of4.11 percent from 14,55,700 units sold March 2023.
Hero MotoCorp sales fell to 3,96,107 units relating to a 5.38 percent YoY and 23.73 percent MoM decline. Honda’s total sales improved to 3,74,747 units in the past month while TVS Motor also posted YoY growth to 2,94,786 units in April 2023. Bajaj Auto had total sales of 2,87,985 units last month, a YoY and MoM growth of 5.99 percent and 16.59 percent respectively while there was also Suzuki with 88,731 units and Royal Enfield with 73,136 units sold in April 2023.
