Two-wheeler makers made a stellar beginning to the new financial year with top-3 manufacturers posting 14-24% growth in domestic sales in April compared to the same month last year. The country’s largest two-wheeler manufacturer Hero Motocorp sold 677,792 units in the domestic market in April vis-a-vis 591,306 units it sold in April 2017, growing by nearly 14.6%.
Japanese auto giant Honda Motorcycle & Scooter India increased its domestic sales by 15.2% to 635,811 units in April compared to 551,732 units in the same month in 2017. The company breached the monthly sale figure of 6 lakh units for the first time. It witnessed similar growth in both scooter and motorcycle segments. While domestic sale of scooters increased by around 15% from 368,550 to 423,527 units, the motorcycle division grew by roughly 16% from 183,182 to 212,284 units on month-on-month basis.
“Last April, Honda crossed 5 lakh units’ mark for the first time and now just one year later, we have breached the 6 lakh units mark too. Not only domestic, exports demand too is stronger than ever before,” senior vice-president-Sales and Marketing, HMSI, YS Guleria said in a release.
For Bajaj, which announced its monthly sales figure on Wednesday, the domestic numbers increased from 161,930 to 200,742 units in April, nearly 24% above the figure announced last year. Analysts believe that strong rural demand and new products are leading this rally in the two-wheelers space.
“The momentum is continuing for two-wheeler manufacturers. It is a splendid start to the financial year for them. Rural market demand and new offerings by manufacturers are driving these numbers and the trend is likely to continue,” Partner, Grant Thornton, Sridhar V said.
Experts say similar growth will continue in the coming months as a normal monsoon is predicted this year.