Each of the leading 6 two wheeler makers in India reported a YoY de-growth both in domestic sales and exports for February 2022
Two wheeler sales slumped in February 2022 with every leading manufacturer posting a YoY de-growth in terms of domestic sales. Taking into account sales of Hero MotoCorp, Honda, TVS, Suzuki and Enfield, total sales in domestic markets stood at 9,97,598 units, down 26.90 percent over 13,64,734 units sold in February 2021. MoM sales on the other hand dipped 8.27 percent from 10,87,496 units sold in January 2022. Even as Hero MotoCorp, Honda, Bajaj and Suzuki posted MoM de-growth, TVS Motors and Royal Enfield posted more positive sales.
Two Wheeler Sales Feb 2022 – YoY and MoM
Hero MotoCorp sales dipped 31.58 percent YoY to 3,31,462 units, down from 4,84,433 units sold in February 2021. MoM sales dipped 7.58 percent over 3,58,660 units sold in January 2021 while share percentage increased from 32.98 percent to 33.23 percent MoM. Hero is likely to enter the electric two wheeler segment with its first launch this month.
Honda two wheeler sales dipped 30.59% in February 2022 to 2,85,677 units, down from 4,11,578 units sold in February 2021 with share at 28.64 percent. MoM sales also saw a decline of 9.37 percent from 3,15,196 units sold in January 2022 with share at 28.98 percent. Honda gears up for launch of the electric scooter to take on the likes of Bajaj Chetak, TVS iQube Electric and Suzuki Burgman Electric. We can expect the manufacturer to launch this new electric scooter next year, priced at around Rs 1.20 lakh.
TVS Motor sales stood at 1,73,198 units last month relating to a YoY de-growth of 11.25 percent over 1,95,145 units sold in February 2021. MoM sales ended more positively with a 3.72 percent growth over 1,67,795 units sold in January 2022. Bajaj Auto along with Suzuki posted YoY de-growth of 35.19 percent and 1.56 percent respectively along with MoM degrowth of28.76 percent and 3.33 percent to 96,523 units and 58,603 units sold last month.
Even as Royal Enfield ended last month with a de-growth of 19.93 percent YoY to 52,135 units over 65,114 units sold in February 2021, its MoM sales increased 4.84 percent over 49,726 units sold in January 2022. Royal Enfield has trademarked a new Constellation name – likely for its upcoming 650cc motorcycle which could borrow features and engine from the 650 Twins- Interceptor and Continental GT.
Two Wheeler Exports Feb 2022 – YoY and MoM
YoY exports increased 2.84 percent to 3,51,599 units over 3,41,894 units shipped in February 2021. MoM shipments however, dipped marginally by 0.59 percent from 3,53,688 units sold in January 2022. Bajaj Auto and Honda Two Wheelers posted a YoY de-growth of 0.44 percent and 13.41 percent respectively. TVS, Hero MotoCorp, Suzuki and Royal Enfield ending the month with more positive exports.
Bajaj Auto commanded a 52 percent share among these 6 leading two wheeler makers. However, sales dipped YoY to 1,82,814 units from 1,83,629 units shipped in February 2021. MoM shipments declined 2.72 percent from 1,87,934 units shipped in January 2022.
TVS Motor exports increased 5.58 percent to 94,427 units from 89,436 units shipped in February 2021 while on a MoM basis, exports increased 9.36 percent from 86,344 units sold in January 2022. TVS Motor Company has launched a new motorcycle called the TVS Raider. This 125cc segment motorcycle is exclusively targeting a younger segment of buyers across countries in Latin America.
Honda’s two wheeler exports also suffered a YoY de-growth of 13.44 percent to 26,944 units last month over 31,118 units shipped in February 2021 with share percentage at 7.66. MoM sales dipped 30.94 percent from 39,013 units sold in January 2022.
Hero MotoCorp has seen its YoY and MoM exports increase 27.37 percent and 22.81 percent respectively to 26,792 units last month. Suzuki and Royal Enfield exports increased 12.08 percent and 54.57 percent on a YoY basis while MoM shipments saw Suzuki post a 43.59 percent growth to 13,597 units while Royal Enfield shipments dipped 22.90 percent to 7,025 units.
Total Two Wheeler Sales February 2022
These domestic sales and exports took total two wheeler sales to 13,49,197 units last month down 20.94 percent over 17,06,628 units sold in February 2021 while MoM sales fell 6.38 percent over 14,41,184 units sold in January 2022. YoY de-growth was posted by Hero (3,58,254 units), Honda (3,12,621 units), Bajaj (2,79,337 units), TVS (2,67,625 units) and RE (59,160 units)while Suzuki sales increased marginally by 0.75 percent to 72,200 units. MoM sales saw TVS, Suzuki and Royal Enfield end on a more positive note.
