While Hero MotoCorp saw the highest sales in domestic markets, it was Bajaj Auto that led in terms of exports in August 2023
Two wheeler sales in August 2023 continued its growth in domestic markets in August 2023 both in terms of YoY and MoM basis, while exports ended in the red. Taking into account sales of the leading 6 two wheeler ORMs in India, Hero and Honda led the domestic sales charts while it was Bajaj Auto and TVS Motors that commanded the export list.
Two Wheeler Domestic sales August 2023
In domestic markets, total sales of the leading 6 two wheeler makers stood at 14,94,024 units in August 2023. This was a 1.31 percent YoY growth over 14,74,665 units sold in August 2022 relating to a 19,359 unit volume increase. MoM sales also improved even more significantly by 23.92 percent from 12,05,662 units sold in July 2023 with volume growth at 2,88,362 units.
Hero MotoCorp sold the highest number of two wheelers last month. Figures stood at 4,72,947 units, up 4.93 percent YoY from 4,50,740 units sold in August 2022 while MoM sales also improved by 27.41 percent from 3,71,204 units sold in July 2023. Market share improved from 30.79 percent held in July 2023 to 31.66 percent last month.
Following close behind at No. 2 was Honda with 4,51,200 units sold in August 2023, up 6.61 percent YoY from 4,23,216 units sold in August 2022. The company currently commands a 30.20 percent market share up from 25.78 percent held in July 2023 when sales stood at 3,10,867 units, relating to a 45.14 percent MoM growth.
TVS Motor sales also grew both YoY and MoM to 2,56,619 units in August 2023, up 7.23 percent YoY and 9.09 percent MoM. This was against 2,39,325 units and 2,35,230 units sold in August 2022 and July 2023 respectively. Market share however dipped to 17.18 percent from 19.51 percent MoM. Bajaj Auto posted a YoY de-growth in August 2023 down to 1,60,820 units from 2,33,838 units sold in August 2022. It was however, a MoM growth of 13.26 percent when compared to 1,42,990 units sold in July 2023. This list also included Suzuki (83,045 units) and Enfield (69,393 units) both of which have reported YoY and MoM growth.
Two Wheeler Exports August 2023
Dismal performance was seen in export markets with the leading 6 two wheeler makers posting lackluster sales. Total exports stood at 2,70,343 units, down 0.35 percent YoY from 2,71,301 units exported in August 2022 while MoM exports slipped 5.49 percent over 2,86,058 units shipped in July 2023.
Bajaj Auto saw the highest exports at 1,24,211 units in the past month, up 1.99 percent from 1,21,787 units sold in August 2023 while MoM sales dipped 2.08 percent from 1,26,850 units shipped in July 2023. Bajaj Auto currently commands a 45.95 percent share in export markets. TVS exports dipped both YoY and MoM to 75,491 units in August 2023. This was down 0.95 percent YoY from 76,214 units shipped in August 2023 and down 2.06 percent MoM from 77,077 units exported in July 2023.
Honda two wheeler exports dipped significantly by 32.86 percent to 26,390 units in the past month from 39,307 units exported in August 2022. MoM exports also ended in the red down 3.84 percent from 27,443 units shipped in July 2023. Suzuki (20,291 units), Hero MotoCorp (15,770 units) and Enfield (8,190 units) each posted a YoY growth while Suzuki and Hero also saw a MoM decline in exports by 26.29 percent and 21.57 percent respectively. Enfield exports grew by 16.09 percent from 7,055 units shipped in July 2023.
Total 2 Wheeler Sales August 2023
Increased domestic sales resulted in positive total sales of these 6 two wheeler makers in August 2023. Total sales stood at 17,64,367 units in August 2023, up 1.05 percent from 17,45,966 units sold in August 2022. MoM sales improved by 18.28 percent from 14,91,720 units sold in July 2023.
It was Hero that led the sales list with 4,88,717 units sold last month, up 5.64 percent from 4,62,608 units sold in August 2022. MoM sales also grew by 24.89 percent over 3,91,310 units sold in July 2022. Honda sales improved by 3.26 percent YoY and even more significantly by 41.17 percent MoM to 4,77,590 units in August 2023. There were 4,62,523 units and 3,38,310 units sold in August 2022 and July 2023 respectively.
TVS Motor posted a 5.25 percent YoY growth and 6.34 percent MoM growth to 3,32,110 units in the past month while Bajaj Auto’s total sales fell by 19.85 percent to 2,85,031 units on a YoY basis. Bajaj Sales however, improved by 6.02 percent MoM from 2,68,840 units sold in July 2023. There was also Suzuki (1,03,336 units) and Royal Enfield (77,583 units) total sales last month. Both saw increased YoY growth while Suzuki sales dipped on a MoM basis by 4.17 percent from 1,07,838 units sold in July 2023.
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