In domestic markets YoY growth stood at 17.16 percent while exports surged 61.02 percent
An upward trend was noted across the two wheeler segment in March 2021. Of course sales in March 2020 could not really be taken into consideration due to the transition to BS-VI from April 2020. It was in the same month that a nationwide lockdown was announced on 24th March 2020 in view of the COVID-19 pandemic.
Total two wheeler sales in March 2021 stood at 14,43,320 units, up 78 percent over 8,10,723 units sold in March 2020. Preference for personal mobility due to the pandemic and healthy rural conditions led to increased two wheeler sales in the past month.
Hero, Honda, TVS
Hero MotoCorp, India’s largest two-wheeler manufacturer, reported a 77.93 per cent sales growth, from to 5,44,340 units last month up from 3,05,932 units sold in March 20. MoM sales also grew significantly by 12.37 percent as against 4,84,433 units sold in Feb 21. The company currently commands a 37.71 percent market share up from 35.50 percent held in Feb 21.
Hero MotoCorp introduced a range of scooters and motorcycles in India over the past year. These included the Glamour, Pleasure+ Platinum, Maestro Edge 125 ‘Stealth’ Edition and Splendor+ Black and Accent as well as the BS6 compliant Xtreme 200S and the Destini 125 Platinum.
Honda two wheeler sales increased 60.77 percent YoY form 2,45,716 units sold in March 2020 to 3,95,037 units sold in the past month. MoM sales however suffered a de-growth of 4.02 percent from 4,11,578 units sold in Feb 2021. Honda’s had two launches in the past year, Hness CB350 and CB350RS followed by the Indian debut of CB500X and CB 650R.
Sales of TVS Motor increased significantly YoY by 114.82 percent to 2,02,155 units, up from 94,103 units sold in March 20. The company commands a market share of 14.01 percent. MoM sales increased by 3.59 percent from 1,95,145 units sold in Feb 21. Early March saw the launch of the updated Apache RTR 160 4V at starting price of Rs. 1,07,270. It is offered in two variants and boasts of advanced technologies, best in class performance and increased power to weight ratio.
Bajaj, Suzuki, Royal Enfield
Lower down the order were Bajaj, Suzuki and Royal Enfield, all of which posted positive sales both YoY and MoM. Bajaj sales increased 84.32 percent to 1,81,393 units in March 2021, up from 98,412 units sold in March 2020 while Feb 21 sales were at 1,48,934 unit relating to a 21.79 percent MoM sales increase. Royal Enfield also posted positive YoY sales at 60,173 units while MoM sales dipped 7.59 percent.
Exports increased 61.02 percent
Exports in the past month increased 61.02 percent to 3,18,244 units, up from 1,97,645 units exported in March 20. MoM exports dipped 6.92 percent as against 3,41,894 units shipped in Feb 21.
In export markets, Bajaj Auto Limited claimed a pole position. The company currently commands a 46.74 percent market share in terms of exports and shipped 1,48,740 units in the past month, up 32.14 percent increase over 1,12,564 units shipped in March 20. MoM exports however dipped 19 percent as against 1,83,629 units exported in Feb 21.
TVS Motor noted the highest YoY percentage increase. Exports grew by 163.96 percent to 1,05,282 units, up from 39,885 units shipped in March 20. The company currently commands a 33.08 percent market share and also noted a MoM increase by 17.72 percent as against 89,436 units shipped in Feb 21.
While Hero exports increased both YoY (81.9 percent) and MoM (55.07 percent), Honda two wheeler exports remained flat on a YoY basis and dipped 48.58 percent MoM. Suzuki and Royal Enfield also posted positive YoY sales but Suzuki exports dipped 19.88 percent MoM while Enfield exports grew 29.48 percent from 4,545 units in Feb 21 to 5,885 units exported in March 21.