Except Hero MotoCorp, all other OEMs report growth in 2W sales in March
The country’s top twowheeler manufacturer, Hero MotoCorp, has reported a decline of around 9 per cent yeaonyear (yoy) in its domestic wholesales (dispatches to dealers), while companies such as Honda Motorcycle & Scooter India (HMSI), Bajaj Auto and TVS Motor Company reported in higher singledigits or doubledigit growth during the month.
The company sold 4,59,257 units of twowheelers during the month, compared with 5,02,730 units in March 2023. However, on an annual basis, Hero MotoCorp’s sales grew 5 per cent to 54.20 lakh units in FY24 (51.56 lakh units). All other manufacturers reported doubledigit growth in FY24.
The second largest twowheeler manufacturer and largest scooter maker, HMSI, grew 81 per cent in its domestic sales to 3,58,151 units in March (1,97,542 units).
HEALTHY GROWTH
Similarly, TVS Motor Company grew 8 per cent yoy to 2,60,532 units last month (2,40,780 units). ‘Pulsar’ maker Bajaj Auto also recorded a growth of 20 per cent yoy in its twowheeler sales to 1,83,004 units in March (1,52,287 units).
Royal Enfield grew 10 per cent yoy in its sales to 66,044 units in March (59,884 units). The ‘Himalayan’ maker said that it has outpaced the ‘preCovid’ numbers and has registered healthy growth during the year.
“We have outgrown the twowheeler and motorcycle industry in the domestic market. All our motorcycles in the last two years have performed exceedingly well and have grown the market for Royal Enfield...With our exciting lineup of products, we are confident that we will be able to sustain our growth momentum well in FY 202425,” B Govindarajan, Chief Executive Officer, Royal Enfield said.
Japanese subsidiary Suzuki Motorcycle India (SMIPL) has also emerged with a good set of numbers during March with a yoy growth of 18 per cent to 86,164 units (73,069 units).
“SMIPL’s performance in FY202324 showcases the immense trust and confidence that customers have shown in Suzuki twowheelers. As we continue to innovate and expand our offerings, we look forward to further strengthening our position in the Indian twowheeler market,” Kenichi Umeda, Managing Director, said.