2W sales saw a YoY de-growth of 12.60 percent while MoM sales grew by 14.91 percent in October 2023
Two wheeler retail sales, as announced by Federation of Automobile Dealers Associations (FADA), for the month of October 2023, saw sales dip by 12.60 percent. It was however, a MoM growth of 14.91 percent when compared to sales in September 2023. Festivities during the month of October 2023 failed to stir up sales in the two wheeler segment, retail sales of which dipped 12.60 percent YoY in the said month. Sales fell to 15,07,756 units in October 2023, down from 17,25,043 units sold in October 2022. This was a volume de-growth of 2,17,287 units.
2W Retail Sales Oct 2023 – Hero, Honda, TVS post YoY degrowth
The segment made up on a MoM basis with a 14.91 percent growth from 13,12,101 units sold in September 2023. During the 10 day Navratri period there were 5,40,325 units sold, up 21.75 percent when compared to 4,43,796 units sold during the same 10 day period of 2022. While Hero MotoCorp once again led the segment, the company reported a YoY de-growth in October 2023. Sales dipped to 4,17,750 units, down from 5,67,122 units sold in October 2022. It was a MoM growth of over 3,15,781 units sold in September 2023.
At No. 2 was Honda that has also seen sales dip YoY in October 2023 down to 4,02,138 units when compared to 4,46,897 units sold in October 2022. Market share however, increased to 26.67 percent from 25.91 percent YoY. MoM sales improved over 3,48,899 units sold in September 2023. In 3rd spot was TVS Motors also reporting a YoY de-growth in October 2023 down to 2,51,435 units when compared to 2,65,894 units sold in October 2022. Market share improved to 16.68 percent from 15.41 percent YoY. TVS iQube has seen increased demand while the XL100 moped has also been a hot favorite while in the premium space, TVS X and Apache RTR 310 launched recently also gained some traction.
Bajaj Auto sales improved YoY to 1,78,717 units in October 2023 up from 1,72,106 units sold in October 2022. YoY sales growth was also reported by Suzuki Motorcycle India, which grew to 79,782 units in the past month, up from 67,555 units sold in October 2022. Market share improved to 5.29 percent from 3.92 percent YoY.
Sales de-growth was reported by Royal Enfield, which fell to 68,151 units in October 2023, down from 73,763 units in October 2022. It was also a MoM growth from 63,084 units sold in September 2023. Royal Enfield has recently revealed details of the Himalayan 452 slated to launch soon. Once launched, it will compete against the Triumph Scrambler 400X, KTM 390 Adventure, 390 Enduro and Hero Xpulse 440. It was Yamaha Motors that saw sales increase significantly to 55,289 units in October 2023 from 50,201 units sold in October 2022 taking up market share to 3.67 percent from 2.91 percent YoY.
Ola and Ather Energy Post YoY Growth in October 2023
In the electric two wheeler segment, Ola Electric maintained its dominance and also posted a healthy YoY growth in sales. Retail sales stood at 23,783 units in the past month, up from 16,357 units sold in October 2022. This took market share up to 1.58 percent from 0.95 percent YoY. It was also a MoM growth from 18,647 units sold in September 2023.
Ather Energy, another leading electric two wheeler major in India, has seen sales grow to 8,346 units in October 2023 up from 7,358 units sold in October 2022. MoM sales growth was also significant from 7,123 units sold in September 2023. Greaves Electric, formerly known as Ampere Electric Vehicles, sales jumped to 4,169 units in October 2023 from just 39 units sold in October 2022 and was a further MoM increase over 3,605 units sold in September 2023.
Lower down the sales list, each of the two wheeler makers have reported sales de-growth. Piaggio sales dipped to 3,284 units in October 2023 from 3,881 units sold in October 2022. Classic Legends (Jawa / Yezdi) also saw retail sales fall to 2,689 units from 3,769 units on a YoY basis while Okinawa sales fell significantly down to 1,474 units in the past month from 14,953 units sold in October 2022. There were others in this segment that also included electric two wheeler manufacturers that contributed 10,749 units to total retail sales. This was down from 35,148 units sold in the same month last year.
