Each of India’s six leading two-wheeler manufacturers reported year-on-year de-growth in both domestic sales and exports in February 2022
Two-wheeler sales fell in February 2022, with every leading manufacturer posting a decline in year-on-year growth in terms of domestic sales. Taking into account sales of Hero MotoCorp, Honda, TVS, Suzuki and Enfield, total sales in the domestic markets were 9,97,598 units, down 26.90 percent from 13,64,734 units sold in February 2021. MoM sales, on the other hand, fell 8.27 percent from 10,87,496 units sold in January 2022. Even as Hero MotoCorp, Honda, Bajaj and Suzuki posted MoM growth, TVS Motors and Royal Enfield posted more positive sales.
Sale of two-wheelers February 2022 – YoY and MoM
Hero MotoCorp sales fell 31.58 percent year-over-year to 3,31,462 units, compared to 4,84,433 units sold in February 2021. MoM sales were down 7.58 percent from 3,58,660 units sold in January 2021. , while the share percentage rose from 32.98 percent to 33.23 percent MoM. Hero is likely to enter the electric two-wheeler segment with its first launch this month.
Honda two-wheeler sales fell 30.59 percent in February 2022 to 2.85,677 units, compared to 4,11,578 units sold in February 2021, with a share of 28.64 percent. MoM sales also fell 9.37 percent from 3,15,196 units sold in January 2022, with a share of 28.98 percent. Honda gears up for the electric scooter launch to take on Bajaj Chetak, TVS iQube Electric and Suzuki Burgman Electric. We can expect the manufacturer to launch this new electric scooter next year priced at around Rs 1.20 lakh.
TVS Motor sales were 1,73,198 units last month, representing an 11.25 percent year-over-year de-growth from 1,95,145 units sold in February 2021. MoM sales ended more positively with growth of 3 .72 percent on 1,67,795 units sold in January 2022. Bajaj Auto, along with Suzuki, posted annualized de-growths of 35.19 percent and 1.56 percent, respectively, along with MoM degrowths of 28.76 percent and 3. 33 percent to 96,523 units and 58,603 units sold last month.
Even as Royal Enfield ended last month with a 19.93 percent year-over-year de-growth to 52,135 units over 65,114 units sold in February 2021, MoM sales rose 4.84 percent from 49,726 units sold in January 2022. Royal Enfield has filed a new Constellation name – likely for its upcoming 650cc motorcycle that could borrow features and engine from the 650 Twins-Interceptor and Continental GT.
Two-wheeler export February 2022 – YoY and MoM
Year-on-year exports increased 2.84 percent to 3,51,599 units, up from 3,41,894 units shipped in February 2021. However, MoM shipments fell marginally 0.59 percent from the 3,53,688 units sold in January 2022. Bajaj Auto and Honda Two Wheelers reported year-over-year growth of 0.44 percent and 13.41 percent, respectively. TVS, Hero MotoCorp, Suzuki and Royal Enfield ended the month with more positive exports.
Bajaj Auto had a 52 percent share among these 6 leading two-wheeler manufacturers. However, sales declined year-on-year to 1,82,814 units from 1,83,629 units shipped in February 2021. MoM shipments were down 2.72 percent from 1,87934 units shipped in January 2022.
TVS Motor exports increased 5.58 percent to 94,427 units, compared to 89,436 units shipped in February 2021, while on a MoM basis, exports grew 9.36 percent from 86,344 units sold in January 2022 . TVS Motor Company has launched a new motorcycle, the TVS Raider. This 125cc motorcycle is aimed exclusively at a younger segment of buyers in countries in Latin America.
Honda two-wheeler exports also suffered a 13.44 percent year-over-year de-growth last month to 26,944 units, up from 31,118 units shipped in February 2021, with a share of 7.66. MoM sales fell 30.94 percent from 39,013 units sold in January 2022.
Hero MotoCorp saw its YoY and MoM exports grow 27.37 percent and 22.81 percent, respectively, to 26,792 units last month. Suzuki and Royal Enfield exports grew 12.08 percent and 54.57 percent year-on-year, while MoM Suzuki shipments grew 43.59 percent to 13,597 units, while Royal Enfield shipments grew 22.90 percent fell to 7,025 units.
Total sales of two-wheelers February 2022
These domestic sales and exports brought total two-wheeler sales last month to 13,49,197 units, a 20.94 percent drop from 17,06,628 units sold in February 2021, while MoM sales fell 6.38 percent on Monday. versus 14,41,184 units sold in January 2022. YoY de-growth was posted by Hero (3,58,254 units), Honda (3,12,621 units), Bajaj (2,79,337 units), TVS (2,67,625 units) and RE (59,160 units), while Suzuki sales rose marginally by 0.75 percent to 72,200 units. MoM sales saw TVS, Suzuki and Royal Enfield end on a more positive note.