India is one of the largest two-wheeler markets in the world. While in the last few months, the two-wheeler segment has been struggling due to multiple challenges, there was a positive sentiment during the festive season and it turned out to be good for OEMs. Most automakers posted an uptick in sales last month on a YoY basis. Here, we have explained how each two-wheeler maker performed in October 2022.
Two-wheeler Sales October 2022:
Hero MotoCorp sold 4,54,582 two-wheelers in October 2022, recording a 17 percent YoY decline in sales. While 4,42,825 units were retailed in the domestic market, the remaining 11,757 units were exported to other countries. Its sales dipped by 12.5 percent MoM as in September 2022 it sold 5,19,980 units.
Honda Motorcycle & Scooter India sold 4,49,391 two-wheelers in October 2022, recording a 3.9 percent YoY growth. The company retailed 4,25,969 units in the domestic market and 23,422 units were exported to other countries. On an MoM basis, Honda’s sales dipped by 13.3 percent as in September 2022 it sold 5,18,559 units.
Bajaj Auto registered a total sales of 3,41,903 units in October 2022, registering a YoY decline of 13 percent. While 2,06,131 units were retailed domestically, the company’s exports took a massive hit and stood at 1,35,722 units last month from 1,92,565 units a year ago. On an MoM basis, its sales dipped by 1.8 percent as it sold 3,48,355 units in September this year.
TVS Motor Company
TVS Motor Company’s total two-wheeler sales for October 2022 stood at 3,44,630 units as against 3,41,513 units in October 2021, recording a YoY growth of a mere 0.9 percent. On an MoM basis, its sales dipped by 4.7 percent as the company sold 3,61,729 two-wheelers in September 2022.
Royal Enfield managed to sell 82,235 units in October 2022, registering a massive 86 per cent YoY growth. In the same period last year, its domestic sales stood at 44,133 units. Also, on an MoM basis, it recorded a 0.17 per cent increase in sales as it sold 82,097 units in September 2022.
Suzuki Two-wheelers registered its best-ever sales in India last month. The company sold 87,859 units in India in October 2022, recording a 27 per cent YoY growth. In the same period last year, its sales stood at 69,186 units. Moreover, on an MoM basis, its sales grew by 1.2 per cent as it sold 86,750 units in September 2022.