In December 2023, the domestic sales of two-wheelers from six major automakers experienced a notable improvement, witnessing a 16.17 percent growth compared to the same month in 2022. The total number of units sold reached 11,63,617, surpassing the 10,01,624 units sold in December 2022. However, analyzing the figures on a month-on-month (MoM) basis revealed a collective decline of 24.97 percent from November 2023, where the total units sold were 15,50,849, indicating a significant volume reduction of 3,87,232 units.
Two-Wheeler Domestic Sales – December 2023
Hero MotoCorp
Hero MotoCorp, the largest two-wheeler manufacturer in India, reported a year-on-year (YoY) and MoM decline in sales for December 2023. The sales slightly dropped by 0.92 percent to 3,77,842 units compared to 3,81,365 units in December 2022. In terms of market share on this list, Hero MotoCorp held a 32.47 percent share. However, the MoM sales saw a more significant decrease, plummeting by 20.67 percent from the 4,76,286 units sold in November 2023.
Honda
Honda’s two-wheeler sales demonstrated a positive trend, growing by 22.71 percent on a YoY basis, reaching 2,86,101 units in December 2023 compared to 2,33,151 units in December 2022. Nevertheless, MoM sales experienced a decline of 31.99 percent from 4,20,677 units in November 2023. The market share also decreased from 27.13 percent in November 2023 to 24.59 percent in December 2023.
Bajaj Auto Limited
Bajaj Auto Limited recorded a YoY growth of 26.14 percent with 1,58,370 units sold in December 2023, up from 1,25,553 units in December 2022. However, the MoM sales faced a setback, dropping by 27.55 percent from 2,18,597 units in November 2023.
Suzuki
Suzuki experienced a substantial YoY growth of 68.74 percent in domestic sales, reaching 69,025 units in December 2023, but MoM figures showed a 5.62 percent decline and Suzuki’s sales trajectory indicates a thriving market presence.
Royal Enfield
Royal Enfield, while witnessing a YoY and MoM de-growth of 3.36 percent and 23.75 percent, respectively, closed December 2023 with 57,291 units and the figures emphasize the challenges faced by the company in the domestic market during this period.
Two-Wheeler Exports – December 2023
On a more positive note, two-wheeler exports demonstrated a 5.69 percent YoY and 1.78 percent MoM growth, reaching 2,63,393 units in December 2023. This contrasts with the 2,49,216 units and 2,58,790 units shipped in December 2022 and November 2023, respectively.
Bajaj Auto
Bajaj Auto led the export market with 1,24,631 units shipped in December 2023, reflecting a 2.58 percent YoY growth but a 4.46 percent MoM decline.
TVS Motor, Honda, and Hero MotoCorp
TVS Motor (75,076 units), Honda (31,022 units), and Hero MotoCorp (16,110 units) each reported both YoY and MoM growth in exports, showcasing their success in international markets.
Suzuki and Royal Enfield
Suzuki faced a 54.54 percent YoY decline and a 35.46 percent MoM de-growth, exporting 10,458 units in December 2023. Royal Enfield, on the other hand, experienced a 28.94 percent YoY dip but compensated with a 19.20 percent MoM increase, totaling 6,096 units.
Two-Wheeler Total Sales – December 2023
The combined sales (domestic + exports) of the six leading two-wheeler manufacturers in India reached 14,27,010 units in December 2023, marking a 14.08 percent YoY growth compared to the 12,50,840 units sold in December 2022. However, MoM sales witnessed a decline of 21.14 percent from the 18,09,639 units sold in November 2023.
Hero MotoCorp and Royal Enfield
Hero MotoCorp faced a total YoY de-growth of 0.06 percent, reaching 3,93,952 units. Royal Enfield’s total sales declined by 6.59 percent to 63,387 units in December 2023.
Honda, TVS, Bajaj Auto, and Suzuki
Honda (3,17,123 units), TVS (2,90,064 units), Bajaj Auto (2,83,001 units), and Suzuki (79,483 units) each posted double-digit YoY sales growth.
Conclusion
While Hero MotoCorp and Royal Enfield experienced challenges in both domestic and total sales other major players like Honda, TVS, Bajaj Auto, and Suzuki showcased positive trends in the two-wheeler market in India for December 2023 and the variations in sales figures underscore the dynamic nature of the industry during this period.
2024-01-08 21:59:46
