March 2023 turned out to be a good month for the Indian automotive industry. The automakers recorded healthy YoY growth both in the passenger vehicles as well as the two-wheeler space. In the two-wheeler category, while Hero MotoCorp continues to lead the race, TVS and Suzuki have posted a strong uptick in sales. Here, we have listed the best-selling two-wheeler brands in India in March 2023.
Best-selling two-wheeler brands in March 2023:
| Brand | Mar’23 | Mar’22 | YoY change | Feb’23 | MoM change |
| Hero MotoCorp | 5,02,730 | 4,15,764 | 20.9% | 3,82,317 | 31.5% |
| TVS | 2,40,780 | 1,96,596 | 22.4% | 2,21,402 | 8.7% |
| Honda | 1,97,512 | 3,09,549 | -36.2% | 2,27,064 | -13% |
| Bajaj | 1,52,287 | 1,07,081 | 42% | 1,20,335 | 26.5% |
| Suzuki | 73,069 | 50,734 | 44% | 52,455 | 39.2% |
| Royal Enfield | 59,884 | 58,447 | 2.4% | 64,436 | -7% |
Hero MotoCorp
Hero MotoCorp sold 5,02,730 units in the domestic market in March 2023, recording a 20.9% YoY growth. In the same period last year, its sales stood at 4,15,764 units. On an MoM basis, its sales increased by 31.5% as it sold 3,82,317 units in February 2023.
Also Read: Upcoming cars in India in April 2023: Maruti Fronx to MG Comet EV
TVS Motor Company managed to sell 2,40,780 units in March 2023, registering a massive 22.4% YoY growth. In the same period last year, its domestic sales stood at 1,96,596 units. On an MoM basis, it recorded an 8.7% growth as it sold 2,21,402 units in February 2023. TVS’ iQube electric scooter is garnering good numbers and it recently crossed the 1 lakh sales milestone.
Honda Motorcycle & Scooter India
Honda Motorcycle & Scooter India’s sales declined by a massive 36 percent YoY as it sold 1,97,512 units in March 2023. In the same period last year, its domestic sales stood at 3,09,549 units. On an MoM basis, it recorded a 13% decline in sales as it sold 2,27,064 units in February 2023. However, with the launch of new models like the Shine 100 and Activa H-Smart, HMSI is expected to increase its market share.
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Bajaj Auto sold 1,52,287 units in March 2023, thereby registering a massive 42% YoY growth in sales. In the same period last year, its domestic sales stood at 1,07,081 units. However, Bajaj’s exports continue to decline. On an MoM basis, it recorded a 26.5% growth in sales as it sold 1,20,335 units in February 2023.
Suzuki Motorcycle India
Suzuki has overtaken Royal Enfield to become the fifth best-selling two-wheeler brand in India in March 2023. The company sold 73,069 units in March 2023, recording a 44% YoY growth. In the same period last year, its sales stood at 50,734 units. Moreover, on an MoM basis, its sales grew by 39.2% as it sold 52,455 units in February 2023.
Royal Enfield
Finally, the last one on the list is Royal Enfield. The company’s sales remained flat in March 2023 as with 59,884 units, it recorded a mere 2.4 percent YoY growth. In the same period last year, its sales stood at 58,447 units. Moreover, on an MoM basis, RE’s sales declined by 7% as it sold 64,436 units in February 2023.
Also Read: Maruti Suzuki bets big on SUVs to achieve 50% PV market share: EV roadmap revealed
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