India is one of the biggest markets for two-wheelers. India’s national brand Hero MotoCorp has been in charge of sales for a while. With 3,79,839 units sold in the domestic market, Hero registered 15.50% YoY growth and a 32.26% market share of this ranking in the two-wheeler sales for November 2022. Gained volume was 50,977 units. Hero saw a volume MoM loss of 62,986 units at a rate of 14.22%. 3,53,540 Honda-branded vehicles were sold, up from 2,56,174 vehicles a year earlier. The MoM reduction was 17% and the YoY growth was 38.01%. In third place with 1,91,730 units was TVS. The brand experienced a 30.52% MoM drop and 8.97% YoY growth.
Sales for Royal Enfield and Suzuki fell month over month, however, they both experienced YoY growth of 46.46% and 13.46%, respectively. Last month, sales from these six main 2W producers in the domestic market totaled 11,77,515 units. Figures increased by 17% YoY but decreased by 21.34% MoM, losing 3,19,506 units in volume. Bajaj tops the export charts with 1,38,630 units shipped in the previous month. Bajaj reported a 28.36% YoY reduction and a 2.10% MoM gain when compared to 1,93,520 units shipped last year and 1,35,772 units shipped the month prior. By recording a 12.22% YoY fall and 4.68% MoM growth, TVS displayed comparable trends to Bajaj.
Last month, TVS exported 71,912 units, which is over half of Bajaj’s total. Honda shipped 19,681 units in November 2022, showing a loss of 18.71% YoY and 15.97% MoM, and went entirely into the red. With 16,203 units supplied under its brand, Suzuki saw a YoY gain of 63.58%. However, the MoM drop of 11.09% was not particularly encouraging. Hero MotoCorp and Royal Enfield, with 11,093 and 5,006 units shipped, respectively, take fifth and sixth place. Similar to Honda, Hero and Enfield also had declines of 45.97% and 26.64% YoY and 5.65% and 12.28% MoM, respectively. These 6 2W manufacturers exported 2,62,525 units in total, a 22.08% YoY and 0.40% MoM decrease.
The figures for Bajaj and TVS are pretty similar to one another. Last month, TVS and Bajaj each sold 2,63,642 and 2,62,120 units, respectively. Bajaj’s numbers decreased in both a YoY and an MoM study, whereas TVS had a YoY increase of 2.24% and a MoM decline of 23.50%. Bajaj experienced the largest volume loss on this list, down 76,353 units year over year. Sales for Suzuki and Enfield are nearly identical, with 79,359 and 70,766 units sold, respectively. Suzuki and Enfield both had YoY growth and individual MoM declines. In total, the 6 best-selling products in the 2W segment sold 14,40,040 units overall (domestic + exports) in November 2022.
The 2W sales for these 6 manufacturers in November 2022 increased by 7.20% YoY and decreased by 18.21% MoM when compared to 13,43,355 units sold in November 2021 and 17,60,600 units sold in October 2022. Volume increased YoY by 96,705 units, but volume decreased MoM by 3,20,560 units.