Sales figures for 5 leading OEMs in the Indian two-wheeler segment for the month of June 2023 show de-growth in total sales both on YoY and MoM basis
Higher costs of two wheelers, rising EMIs and lower rural sentiment saw weak demand in the two-wheeler motorcycle segment in June 2023. Total sales (domestic + exports) fell both on a YoY and MoM basis down to 14,36,245 units in June 2023, from 15,39,821 units sold in June 2022. This was a volume de-growth of 1,03,576 units. MoM sales fell by 7.54 percent when compared to 15,53,319 units sold in May 2023 relating to a 1,17,074 unit volume de-growth.
Taking into account sales of the 5 leading OEMs in the Indian two-wheeler segment into account. Sales improved just marginally on a YoY basis by 0.67 percent. There had been 11,87,210 units sold in June 2022 which went up to 11,95,133 units in the past month. MoM sales saw a 10.66 percent decline from 13,37,749 units sold in May 2023.
Two Wheeler Domestic Sales June 2023
Hero two wheeler sales dipped 8.73 percent YoY and 16.83 percent MoM to 4,22,757 units in June 2023. There were 4,63,210 units and 5,08,309 units sold in June 2022 and May 2023 respectively. Hero currently commands a 35.37 percent share on this list. New products set to increase sales in the months ahead will be the Harley-Davidson X440 neo retro roadster while the company also unveiled the new Xtreme 160R 4V in June along with a new range of 100cc HF Deluxe and Passion Plus.
Honda sales also dipped YoY and MoM to 3,02,833 units in June 2023. It was 22.14 percent lower when compared to 3,55,560 units sold in July 2022. MoM sales fell by 2.70 percent from 3,11,144 units sold in May 2023. While TVS posted a YoY growth of 22.14 percent to 2,35,833 unit sales in June 2023, MoM sales dipped by 6.67 percent. The same was also true in the case of Bajaj Auto (1,66,292 units) and Royal Enfield (67,495 units). Both the automakers posted YoY growth of 32.95 percent and 34.27 percent respectively but MoM sales however dipped by 14.64 percent and 4.66 percent respectively.
Two Wheeler Exports June 2023
Exports dipped 31.62 percent YoY to 2,41,112 units in June 2023 from 3,52,611 units sold in June 2022. Performance on a MoM basis was somewhat better with an 11.85 percent growth over 2,15,570 units shipped in May 2023. Every OEM on this list has posted YoY de-growth but an improvement on a MoM basis.
It was Bajaj Auto Limited that topped the export list with a 52.82 percent share with 1,27,357 units shipped last month. This was a YoY decline of 33.27 percent from 1,90,865 units shipped in June 2022 while exports improved 12.82 percent MoM from 1,12,885 units shipped in May 2023. TVS exports stood at 68,568 units in the past month, down 31.86 percent from 1,00,625 units sold in June 2022 but improved by 2.95 percent over 66,605 units sold in May 2023. Honda (21,337 units), Hero MotoCorp (14,236 units) and Royal Enfield (9,614 units) each posted YoY de-growth but improved on a MoM basis.
In terms of total sales (domestic + exports), it was Hero MotorCorp that topped the list with 4,36,993 units sold last month despite a YoY and MoM decline. It was followed by Honda with 3,24,093 units sold in June 2023 which was a 15.57 percent YoY and 1.61 percent MoM decline.
TVS total sales on the other hand saw a YoY growth of 3.64 percent to 3,04,401 units in June 2023 though MoM sales dipped 4.66 percent. There was a YoY and MoM decline in sales for Bajaj Auto with 2,93,649 units sold last month while Royal Enfield posted a YoY growth of 25.57 percent to 77,109 units in June 2023.