Even as the chip supply constraints started to ease off for automakers, sales in the two-wheeler segment of India's automotive industry remained muted in June, both over the last year and on a sequential basis. However, most of the industry players are anticipating sustained growth over the next few quarters due to favourable monsoon and improvement in their supply chain.
With sales of 484,867 units of motorcycles and scooters in June 2022, Hero MotoCorp registered a growth of 3.35 percent over the corresponding month of the previous fiscal when it sold 469,160 units. As per the regulatory filing data, Hero MotoCorp's total domestic sales climbed to 463,210 units in June 2022 compared to 4,38,514 units in June last year. However, exports declined to 21,657 units in the month under review against 30,646 units in June 2021.
In terms of segment, sales of motorcycles advanced to 461,421 units in June 2022 against 441,536 units in the same month last year. A total of 23,446 scooters were sold in June 2022 - down from 27,624 units in June last year.
“The growth in volumes indicates the continuously improving consumer sentiment and the company expects the positive trend to continue in the coming months, on the back of a decent monsoon, and encouraging farm activity," Hero MotoCorp said in an official statement.
Bajaj Auto saw domestic sales of its two-wheelers dropping by 20 percent with 125,083 units sold last month vis-à-vis 155,640 in June 2021. Its total two-wheeler sales (including exports) went up to 315,948 units in June as against 310,578 units sold in the corresponding period last year.
Honda Motorcycle & Scooter India’s (HMSI) total dispatches registered 67 percent growth with 383,882 units in June’22 (355,560 domestic and 28,322 exports) compared to 232,497 units in June’21 (212,453 domestic and 20,044 exports). In the domestic market, its sales grew 65 percent to 355,560 units in June 2022 as compared with 212,453 units in the same month last year.
Atsushi Ogata, Managing Director, President & CEO, Honda Motorcycle & Scooter India said, “The growth expectations with which we set out in the beginning of FY’23 are gradually turning into a reality. The timely arrival of monsoons has impacted the economic indicators favourably. "
He said the company expects the coming months to sustain this upward trend as more customers look for two-wheeler mobility options.
TVS Motor Company saw its total two-wheeler business registering a growth of 23 percent in June 2022 with sales increasing from 238,092 units in June 2021 to 293,715 units in June 2022. Its domestic two-wheeler business registered a growth of 33 percent with sales increasing from 145,413 units in June 2021 to 193,090 units in June 2022.
The Chennai-based company's motorcycle business registered sales of 146,075 units in June 2022 as against 146,874 units in June 2021. Its scooter sales also went up from 53,956 units in June 2021 to 105,211 units in June 2022.
“The shortage in the supply of semiconductors has impacted the production and sales of premium two-wheelers. We are working aggressively with alternate sources and taking every effort to improve supplies at the earliest. Some improvement has been seen this month. We are optimistic that volumes will revive to normal levels as semiconductor supplies continue to improve,” the company said in a statement.
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