In February 2023, total two wheeler sales took a minor hit with a 4.81% YoY decline and a 1.43% MoM decline
Hero established absolute dominance in the domestic 2W market with 3,82,317 units and 37.65% market share among the top five 2W manufacturers. Hero clocked 15.34% YoY growth and 9.41% MoM growth with 50,855 and 32,880 units gained in volume respectively. Honda couldn’t replicate Hero’s success and saw 20.52% YoY decline and 18.36% MoM decline as sales stood at 2,27,064 units.
TVS came close to Honda with 2,21,402 units, just shy of 5,662 units. 27.83% YoY growth and 2.28% MoM growth were main highlights. TVS’ market share is 21.80%, just 0.56% behind Honda. With 1,20,335 units sold, Bajaj secured 4th spot and registered 24.67% YoY growth and a 14.06% MoM decline.
At 5th place, we have Royal Enfield with 64,436 units sold last month. The British marque showcased 23.59% YoY growth and a 4.82% MoM decline. In total, Top five 2W brands accounted for 10,15,554 units. As opposed to 9,38,995 units sold in 2022 and 10,51,781 units sold in January 2023, we observed an 8.15% YoY growth and a 3.44% MoM decline.
Two Wheeler Sales February 2023 – Exports
Bajaj is by far the highest 2W exporter in India with figures more than three times the second-highest exporter. At 1,15,021 units, Bajaj exported just 5314 units less than what it sold domestically. Despite having a 57.51% market share here, Bajaj saw a 37.08% YoY decline and a 14.25% growth MoM.
TVS secured 2nd spot with 45,624 units shipped and fell completely into the red with a 51.68% YoY decline and a 5.42% MoM decline. Honda managed to ship 20,111 units and registered 10.38% MoM growth. Sales declined by 25.36% YoY. Despite being the highest seller domestically, Hero’s exports stood at 12,143 units with numbers more than halved YoY and gained 67.42% MoM.
Royal Enfield shipped 7,108 units and is the only one ending February on a positive note. A mere 1.18% YoY and 0.91% MoM growth were registered. In total, top 5 two wheeler exporters accounted for 2,00,007 units shipped and registered 40.83% YoY decline as opposed to 3,38,002 units shipped last year and a 10.24% MoM growth as opposed to 1,81,435 units sold a month before.
Two wheeler Total Sales Feb 2023
In total, it was Hero MotoCorp that took the cake getting close to selling 4 lakh units. When compared to 3,58,254 units sold a year ago and 3,56,690 units sold a month before, 3,94,460 units clocked in Feb 2023 resulted in 10.11% YoY growth and 10.59% MoM growth. Volume gain stood at 36,206 units YoY and 37,770 units MoM and 32.45% market share.
With good numbers clocked in exports, TVS surpassed Honda in total sales by almost 20,000 units. With 2,67,026 units, TVS lost 0.22% sales YoY and gained 0.87% in MoM. Honda clocked 2,47,175 units and fell into the red completely just like it did in domestic sales. With 2,35,356 units sold in total, Bajaj couldn’t manage to register positive growth.
Royal Enfield managed to show a solid 20.93% YoY growth with 71,544 units sold in February 2023, but witnessed a 4.28% MoM decline. In total, top 5 2W manufacturers managed to clock 12,15,561 units. When compared to 12,76,997 units sold a year ago and 12,33,216 units sold a month before, we observed a 4.81% YoY decline and 1.43% MoM decline.