Though Hero MotoCorp is the biggest two-wheeler manufacturer in India, sales during the last month have come down by a significant margin.
In fact, Hero MotoCorp almost lost its status as the largest two-wheeler manufacturer in India to Honda Motorcycle and Scooters India as the latter managed to capitalise on the former’s loss.
Hero (3,79,839 units)
Though Hero MotoCorp continued to dominate the Indian two-wheeler market, and sales figures for the company fell to 3,79,839 units for the month of November 2022. In comparison, the company managed to sell 4,42,825 units of its two-wheelers in October 2022, resulting in a MoM sales decline of more than 14 per cent. However, YoY sales figures improved by more than 15 per cent.
Honda (3,53,540 units)
At 3,53,540 units, Honda Motorcycle and Scooter India (HMSI) has come tantalisingly close to taking the top step of the podium in terms of sales figures despite a 17 per cent drop in overall MoM sales figures. However, YoY sales remained strong as the company managed to grow by more than 38 per cent.
TVS (1,91,730 units)
TVS has yet again narrowly edged Bajaj Motorcycles to hold the third spot by managing to sell 1,91,730 units of its two-wheelers in November 2022 – Which is almost 9 per cent more than what the company had managed to sell in November 2021. However, MoM sales dropped by more than 30 per cent as the company managed to sell more than 2.75 lakh two-wheelers in the month before.
Bajaj (1,23,490 units)
The lack of scooters in Bajaj’s product portfolio is clearly visible as it struggling to gain back the third spot from TVS Motors. Moreover, Bajaj is the only two-wheeler manufacturer in this list to come with a negative YoY growth at almost 15 per cent. Furthermore, MoM sales figures are also down by more than 40 per cent as the company managed to sell more than 2.06 lakh units of its two-wheelers in October 2022.
Thoughts About Two-Wheeler Sales In November
It is not surprising to see two-wheeler sales dip in November as October month usually register very high sales figures due to numerous auspicious days related to different festivals during that month. However, Bajaj’s both YoY and MoM sales figures have been coming down and the company really needs to reconsider its business strategy.