In November, several key players in the Indian 2-wheeler automotive industry showcased substantial growth and milestones across their sales performances. Here’s all the information about them.
Hero MotoCorp
Hero MotoCorp, India’s largest two-wheeler manufacturer, exhibited impressive numbers, marking a 25.6 percent year-on-year growth in wholesales. Their total sales of 4,91,050 two-wheelers showcased robust domestic demand. With a 25.4 percent surge in domestic sales and a 33.1 percent rise in exports. The festive season contributed significantly, witnessing Hero MotoCorp’s highest-ever festive sales of over 1.4 million units.
TVS Motor Company
TVS Motor Company also demonstrated notable growth, recording a 31 percent year-on-year increase in sales. Their domestic two-wheeler sales surged by 50 percent, particularly with motorcycles seeing a 19 percent rise and scooters soaring by 62 percent. The company’s electric scooter models, the TVS iQube and TVS X, saw a considerable uptick in sales, with strong demand reflected in a healthy booking pipeline.
Suzuki Motorcycle
Suzuki Motorcycle India experienced a 9.7 percent year-on-year growth in November, with total sales reaching 87,096 units. While domestic sales grew by 15.8 percent, exports faced a slight decline of 13.8 percent compared to the previous year’s November figures.
Royal Enfield
Royal Enfield, under Eicher Motors, recorded a 13 percent year-on-year growth with total motorcycle sales of 80,251 units. Domestic sales rose by 14 percent, showcasing robust performance. The launch of their facelifted Himalayan 411 model garnered attention, offering customers an updated version starting at Rs 2,69,000.
Honda Motorcycle and Scooter India
Honda Motorcycle and Scooter India observed a 20 percent year-on-year growth, selling 4,47,849 two-wheelers in November. Their strong performance during the festive season contributed significantly to this growth, with domestic sales accounting for 4,20,677 units while exports stood at 27,172 units.
Bajaj Auto
Bajaj Auto witnessed a remarkable surge in sales, marking a 31 percent increase over the previous November. Their total vehicle sales reached 4,03,003 units, with domestic sales experiencing a substantial 69 percent growth. However, their exports faced a slight decline of 6 percent. Notably, domestic two-wheeler sales surged by 77 percent while exports dipped by 6 percent compared to the previous year’s November figures.
Ather Energy
Ather Energy reported a total sales figure of 9,344 units in November 2023, marking a 22.5 percent growth over the same period last year. Despite a slight decline from October 2023, the company showcased consistent growth in the electric vehicle segment.
Ola Electric
Ola Electric experienced a groundbreaking month, registering its highest-ever monthly sales with over 30,000 registrations in November. This achievement represented an 82 percent year-on-year growth, with a notable 30 percent increase in sales from the previous month. The festive season played a pivotal role in bolstering Ola Electric’s market share, which reached 35 percent in November.
These companies’ performances underscore the evolving dynamics within India’s automotive industry, with increased consumer demand, particularly during the festive period, contributing significantly to their remarkable sales growth. The expansion of electric vehicle sales, as evidenced by Ather and Ola Electric’s success, indicates a promising trajectory for sustainable mobility solutions in the Indian market.