While passenger vehicle sales saw impressive growth in August, it was a more modest showing by bikes and scooters, even though most two-wheeler players reported positive year-on-year growth in numbers.
Hero MotoCorp reported a 1.92 percent increase in total sales at 462,608 units in August 2022 against 453,879 units sold in the same month last year.
The world’s largest two-wheeler maker by volumes saw its domestic sales going up 4.55 percent to 450,740 units compared to 4,31,137 units in August 2021. Exports, however, declined to 11,868 units from 22,742 units a year earlier.
Honda Motorcycle & Scooter India (HMSI) sold 462,523 two-wheelers in August against 431,594 units sold in the corresponding month of the previous year , registering a 7 percent growth.
In August 2022, while 423,216 units were sold in the domestic market, 39,307 units were exported.
“Market performance is gaining steady momentum against the previous month as well as on a year-on-year basis,” Atsushi Ogata, managing director, president and CEO, HMSI, said.
Also read: Maruti Suzuki's total sales up 26% to 1,65,173 units in August
Total sales at Bajaj Auto, including exports, grew 5 percent to 355,625 vehicles in August 2022 compared with 338,310 units in the year-ago period.
Its total two-wheeler domestic sales rose 48 percent to 233,838 units in August this year, against 157,971 units in the same month of the previous year. However, exports volumes fell 28 percent to 144,840 units from 200,675 units in the year-ago period.
Suzuki Motorcycle India Pvt Ltd (SMIPL) reported an 8.3 percent rise in total sales at 79,559 units in August 2022 against 73,463 units sold in the same month last year.
Domestic sales in August 2022 came in at 64,654 units compared to 61,809 vehicles in the same month last year. Exports were at 14,905 units last month versus 11,654 units in August 2021.
“With the festive season approaching, we look forward to an overall positive market scenario in terms of demand and supply. Considering the gradual improvement in the availability of semiconductors, we are confident that the company will be able to retain this sales momentum,” SMIPL managing director Satoshi Uchida said.
Royal Enfield boasted the biggest jump in sales, up 53 percent on an annualised basis with volumes hitting 70,112 units against 45,860 bikes sold in the same month last year. Domestic sales were up 61 percent at 62,236 over the 38,572 bikes dispatched in August 2021.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.