The sales figures for the six heavyweight OEMs in the Indian two-wheeler industry have been revealed for the last month of FY2023, and each brand’s performance is summarized below.
Hero MotoCorp continues to dominate the Indian market, selling over 5 lakh units in March 2023. This represents a 31.5% increase from its February 2023 sales figure of 3,82,317 units, and a 20.9% growth compared to March 2022 sales of 4,15,764 units. Hero recently appointed Niranjan Gupta, its former CFO, as the company’s CEO, effective from May 1, 2023.
TVS Motor Company, based in Hosur, recorded a 39% increase in its sales figure for March 2023, selling 2,40,780 units compared to 1,73,198 units in February 2023. Compared to its March 2022 sales of 1,96,596 units, TVS reported a 22.4% increase. The TVS Apache motorcycle line-up recently crossed the 5 million units sales milestone.
Honda Motorcycle and Scooter India (HMSI) sold 1,97,512 units in March 2023, a decline of 13% compared to its February 2023 sales figure of 2,27,064 units. This is also a significant drop of 36.2% compared to its March 2022 sales figure of 3,09,549 units. Honda recently launched the Shine 100 and updated its popular Activa lineup, hoping to recover its second position spot.
Bajaj Auto reported a 26.5% increase in sales, selling 1,52,287 units compared to 1,20,335 units in February 2023. Compared to its March 2022 sales figure of 1,07,081 units, Bajaj reported a substantial 42.2% increase. The company recently updated its popular NS160 and NS200 models.
| Brand | March 2023 | March 2022 | Change | February 2023 | Change |
|---|---|---|---|---|---|
| Hero | 5,02,730 | 4,15,764 | 20.9% | 3,82,317 | 31.5% |
| TVS | 2,40,780 | 1,96,596 | 22.4% | 1,73,198 | 39% |
| Suzuki | 73,069 | 50,734 | 44% | 52,451 | 39.3% |
| Royal Enfield | 59,884 | 58,447 | 2.4% | 64,436 | -7% |
| Honda | 1,97,512 | 3,09,549 | -36.2% | 2,27,064 | -13% |
| Bajaj | 1,52,287 | 1,07,081 | 42.2% | 1,20,335 | 26.5% |
Suzuki recorded a 39.3% increase in sales, selling 73,069 units compared to 52,451 units in February 2023. Compared to its March 2022 sales figure of 50,734 units, Suzuki reported a growth of 44%. Recently, the company updated its entire scooter line-up to comply with the more stringent OBD-2 norms.
Royal Enfield sold 59,884 units in March 2023, which is a 7% decline from its February 2023 sales of 64,436 units. However, compared to its March 2022 sales figure of 58,447 units, the Chennai-based manufacturer reported a 2.4% increase. The company recently launched its most accessible modern-era motorcycle, the Hunter 350, which has already crossed the 1 lakh sales milestone.
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