Two-wheeler sales continue to decline in July 2023

The top three players in this segment saw a drop in their July 2023 volumes. Image Credit: Pixabay

Even as PV (Passenger Vehicle) sales continue to move northwards, the two-wheeler segment is yet to see any revival as the numbers declined in July this year too. The top three players in this segment saw a drop in their July 2023 volumes.

Hero MotoCorp reported a 12 percent decline in total sales, with 3,91,310 units sold in July, compared to 4,45,580 units in the year-ago period. Its domestic sales were at 3,71,204 units, down from 4,30,684 units in July 2022.

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"The numbers are reflective of the inclement weather conditions in July, including unprecedented rains and floods in certain parts of the country," the company said in a statement. "The incessant rains and the floods caused crop damage in several states and also resulted in a sharp decline in customer footfalls at the dealerships," the statement added.

Honda Motorcycle and Scooter India (HMSI) also saw a massive decline in its numbers, with total sales of 3,38,310 units for the month. This includes domestic sales of 3,10,867 units and exports of 27,443 units. Last year in July, the company's total sales stood at 4,43,643 units, including domestic sales of 4,02,701 units and exports of 40,942 units.

Bajaj Auto's total two-wheeler sales dropped by 15% from 315,054 units in July last year to 268,840 units in the same month this year. Its domestic two-wheeler sales in July fell 14% to 1,41,990 units from 1,26,850 units YoY. Exports of two-wheelers declined 16% on-year to 1,26,850 units.

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TVS Motor Company, however, registered a growth of 4% in its total two-wheeler sales, with sales increasing from 299,658 units in July 2022 to 312,307 units in July 2023. Domestic two-wheeler sales registered a growth of 17% to 235,230 units in July 2023 from 201,942 units in July 2022.

Suzuki Motorcycle India Pvt. Ltd. (SMIPL) recorded an overall sale of 107,836 units in July 2023. The company sold 80,309 units in the domestic market and exported 27,527 units to the international markets in July 2023. This sales record translated to a year-on-year sales growth of approximately 41.5% compared to July 2022.

Eicher Motors subsidiary Royal Enfield registered domestic sales of 66,062 units in July 2023, witnessing a 42 percent YoY growth over July last year. Overall, the company posted sales of 73,117 motorcycles last month, as opposed to 55,555 motorcycles sold during July 2022, registering a YoY growth of 32%.