Two wheeler sales were on the ebb in July 2023 though TVS, Suzuki and Royal Enfield posted improved YoY sales
Two wheeler sales for the top 6 automakers in India have been released for July 2023. These 6 leading automakers have seen lackluster sales specifically where domestic sales are concerned. Exports, though lower on a YoY basis, improved MoM but poor performance in terms of domestic sales took total sales down both YoY and MoM.
Two Wheeler Domestic sales July 2023
Total sales of two wheelers in domestic markets in July 2023 stood at 12,05,662 units. This was a 7.76 percent YoY de-growth from 13,07,132 units sold in July 2022 relating to a 1,01,470 unit volume de-growth. MoM sales also fell 4.18 percent when compared to 12,58,192 units sold in June 2023.
Hero MotoCorp topped the list with 3,71,204 units sold last month. This was a 13.81 percent YoY de-growth from 4,30,684 units sold in July 2022. It was also a fall by 12.19 percent MoM over 4,22,757 units sold in June 2023. Hero MotoCorp also saw its market share come down to 30.79 percent from 33.60 percent held in June 2023.
Honda followed at No. 2 with its two wheeler sales at 3,10,867 units in July 2023, down 22.80 percent Yoyo from 4,02,701 units sold in July 2022. MoM sales increased by 2.68 percent over 3,02,756 units sold in June 2023. The company currently commands a 25.78 percent share in this segment and hopes to see better sales in the month ahead with the new Dio 125 scooter launched at the end of July 2023. The new Dio comes in with improved features and new colours and is priced at Rs 83,400 (ex-showroom).
TVS domestic sales grew by 16.48 percent YoY to 2,35,230 units from 2,01,942 units sold in July 2022. MoM sales however, dipped marginally by 0.26 percent from 2,35,833 units sold in June 2023. The TVS iQube electric scooter has recorded healthy growth having found increased demand by EV buyers in the country. At No. 4, Bajaj Auto reported both YoY and MoM de-growth in July 2023. The company sold 1,41,990 units in the past month, down 13.62 percent YoY and 14.61 percent MoM.
Suzuki (80,309 units) and Royal Enfield (66,062 units) have both posted positive sales in July 2023. Suzuki sales increased by 31.89 percent YoY while RE sales jumped 41.98 percent YoY. Suzuki also saw a MoM growth of 27.36 percent while RE sales dipped 2.12 percent MoM.
Two Wheeler Exports July 2023
In export markets, two wheeler sales dipped 12.92 percent YoY to 2,86,058 units from 3,28,488 units sold in July 2022 while MoM sales improved by 10.54 percent from 2,58,790 units sold in June 2023. Here it was Bajaj Auto that posted the most sales at 1,26,850 units, down 15.81 percent YoY and 0.40 percent MoM. It was followed by TVS Motors with exports of 77,077 units in the past month, down 21.12 percent from 97,716 units shipped in July 2022. Mom sales performance was somewhat better with a 12.41 percent growth over 68,568 units exported in June 2023.
Exports of Suzuki increased substantially both YoY and MoM to 27,527 units in July 2023. There had been 15,338 units and 17,678 units sold in July 2022 and June 2023 respectively. Lower down the list was Honda (27,443 units), Hero MotoCorp (20,106 units) and RE (7,055 units) exported. Hero MotoCorp was the only one out of these three automakers to post YoY and MoM growth in exports.
Total 2 Wheeler Sales July 2023
Total 2 wheeler sales stood at 14,91,720 units in July 2023, down 8.80 percent YoY and 1.67 percent MoM. There were 16,35,620 units sold in July 2022 and 15,16,982 units sold in June 2023. Hero MotoCorp led the list with 3,91,310 units sold last month with a 12.18 percent YoY and 10.45 percent MoM de-growth.
Honda total two wheeler sales were at 3,38,310 units in the past month with a 23.73 percent Yoy de-growth but a 4.39 percent improvement on a MoM basis. TVS Motor sales increased YoY and MoM to 3,12,307 units while Bajaj Auto sales were at 2,68,840 units relating to a 14.67 percent YoY and 8.45 percent MoM de-growth.
