Most two wheeler brands in the country registered growth in November 2020 when compared to the same month of the previous year
The festive season brought in some cheer, not only for carmakers in India but also for major two wheeler brands. Sales growth has been reported across the two wheeler segment by Hero, Honda, Bajaj, TVS and Royal Enfield while total YoY growth stood at 13.44 percent.
However, the same could not be said about MoM growth where each of these manufacturers noted de-growth. This is a general trend wherein sales peak during the festive months and fall soon after.
Two wheeler sales in November 2020 increased to 15,94,304 units, up 13.44 percent as against 14,05,389 units sold in November 2019. This was a 1,88,915 unit increase marked by rising need for personal means of travel and the fact that most buyers had put purchases on hold over the past several months due to the COVID-19 pandemic. MoM sales however dipped substantially by 19.93 percent with 19,91,260 units sold in Oct 20.
Hero and Honda claim sales charts
Hero MotoCorp sales surged 13.83 percent to 5,75,957 units in Nov 20, up from 5,05,994 units sold in Nov 19. The company commands a 36.13 market share. Strong demand was noted across all segment including the Splendor+ and HF Deluxe along with the Glamour, Super Splendor and Xtreme 160R. The Destini and Pleasure scooters also witnessed strong customer preference. When taking MoM sales into account, Hero MotoCorp noted a 21.37 percent de-growth as against 7,32,498 units sold in Oct 20. Hero MotoCorp exports declined by 3.6% to 15,134 units in Nov 2020.
The Honda Activa helped the company post 10.54 percent growth in Nov 20. Total Honda two wheeler sales stood at 4,12,641 units, up from 3,73,283 units sold in the same month of the previous year while the company commands a market share of 25.88 percent. MoM sales however dipped 16.55 percent as against 4,94,459 units sold in Oct 20. Honda exports declined by 11% to 20,565 units.
TVS Motor Company noted a 29.58 percent growth in domestic sales in the past month. Domestic two-wheeler sales stood at 247,789 units sold in Nov 20 as against 191,222 units sold in the corresponding period last year. MoM sales dipped 17.78 percent as against 3,01,380 units sold in Oct 20. TVS exports increased by 9% to 63,370 units.
Bajaj Auto Limited was another two wheeler maker to note sales past the 1 lakh unit mark. Sales for Nov 20 stood at 1,88,196 units, up 6.73 percent as compared to 1,76,337 units sold in Nov 19 with a market share of 11.80 percent. However, when taking MoM sales into account, the company noted 29.94 percent de-growth as 2,68,613 units had been sold in domestic markets in Oct 20. Bajaj maintained position as No 1 two wheeler exporter with 18% growth – exporting almost 1.97 lakh motorcycles.
RE, Suzuki and Yamaha Sales
Royal Enfield noted sales growth, albeit marginally by 1.36 percent. Sales in Nov 20 stood at 59,084 units up from 58,292 units sold in Nov 19 while MoM sales dipped 11.67 percent with 66,891 units sold in Oct 20. The new RE Meteor 350 Meteor was launched in November in a total of three variants namely Fireball, Stellar and Supernova. The company had received over 8,000 bookings in two weeks of launch. Models such as the Royal Enfield Bullet 350, Classic 350, Himalayan, Continental GT 650 and Interceptor 650 also added to company sales.
Lower down the order were Suzuki Motorcycle India and Yamaha. Suzuki clocked 5.63 percent de-growth in Nov 20 with 57,429 units sold as against 60,855 units sold in the same month of the previous year. Currently commanding a 3.60 percent market share, the company also noted de-growth in terms of MoM sales as 67,225 units had been sold in Oct 20.
|5||Royal Enfield (+1%)||59,084||58,292|
The Japanese two wheeler brand Yamaha has noted its fifth consecutive month of YoY sales growth after the lockdown was announced earlier this year. Sales increased 35.03 percent in Nov 20 with 53,208 units sold as against 39,406 units sold in Nov 19. An 11.30 percent de-growth was noted in MoM sales as against 60,176 units sold in Oct 20.
Forecasts indicate that there could be increased demand for two wheelers in the country in view of stronger rural sentiments, improved finance availability and a gradual progress in business and economic activities in the months ahead.