Introduction
In December 2023, Suzuki Motorcycle India witnessed a notable upswing in motorcycle sales, with a robust figure of 79,483 units, marking a commendable 24% surge in comparison to the sales recorded in December 2022. This positive development underscores Suzuki’s thriving presence in the Indian motorcycle market.
Details of Sales:
- In November 2023, Suzuki showcased its latest offerings at a prominent motorcycle show, unveiling exciting models such as the GSX S1000 GX ADV and GSX-8R fully-faired machine, along with special editions like the 25th Anniversary Edition of Hayabusa, 2024 V-Strom series, and the 2024 GSX S950.
- The cumulative sales for December 2023 showed a substantial growth of 24.36%, reaching 79,483 units, a noteworthy increase of 15,571 units compared to December 2022.
- The domestic market within India witnessed an impressive year-on-year (YoY) growth of 68.74%, with sales escalating from 40,905 units in December 2022 to 69,025 units in December 2023, contributing significantly to the overall volume growth.
Popular Models and Market Trends:
- Suzuki’s domestic success is attributed to the popularity of models like the Suzuki Access scooter, consistently securing a spot among the top 10 scooters sold each month.
- Key models like the Burgman Street 125, Gixxer 155, and the 250 series played a pivotal role in driving outstanding sales growth for Suzuki in the domestic market.
Month-on-Month (MoM) Performance:
- While the year-on-year growth was impressive, the month-on-month (MoM) comparison revealed a decline of 11.03% in total sales, indicating a temporary slowdown in December compared to the preceding month, November 2023.
- The dip was noticeable in both domestic sales, which contracted by 5.62% MoM, and in exports, which experienced a more substantial decline of 35.46%.
Sales Performance in 2023:
- Examining Suzuki’s sales performance throughout 2023 provides a comprehensive view of their market dynamics.
- The year began on a positive note with January 2023 recording sales of 66,205 units, a YoY growth of 9.21%.
- February 2023 witnessed a dip of 10.49%, with sales totaling 52,455 units.
- The momentum rebounded in March 2023, achieving a remarkable 44.02% surge in sales to 73,069 units.
- The first quarter (Q1) of 2023 closed with an overall growth of 12.81%, as Suzuki sold 1,91,729 units, compared to 1,69,960 units in Q1 2022.
- The positive trend continued in the second quarter (Q2) with sales reaching 1,97,358 units, reflecting a robust YoY growth of 17.63%.
- The first half (H1) of 2023 recorded an impressive sales growth of 15.21%, totaling 3,89,087 units compared to 3,37,733 units in H1 2022.
- Moving into the third quarter (Q3 2023), Suzuki sustained its upward trajectory, closing with 2,47,210 units sold and a substantial growth of 25.14% compared to Q3 2022.
- The momentum persisted in the fourth quarter (Q4 2023), witnessing a notable 30.38% increase, with sales reaching 2,26,462 units compared to 1,73,695 units in Q3 2022.
- The second half (H2 2023) concluded with a remarkable growth of 27.59%, totaling 4,73,673 units, a significant uptick from the 3,71,244 units sold in H2 2022.
- Cumulatively, Suzuki’s sales for the entire year (January to December 2023) amounted to 8,62,759 units, reflecting an impressive YoY growth of 21.69% from the 7,08,977 units sold in the corresponding period of 2022.
Despite a slight dip in December compared to November, Suzuki had an exceptionally successful year in 2023, experiencing substantial overall sales growth across various models in both the domestic and global markets.
2024-01-05 18:26:12
