Sales of motorcycles surge in India amid festive season
India's motorcycle market reportedly saw significant growth this October. Top bikemakers such as Hero MotoCorp, Bajaj Auto, TVS Motor Company, Honda Motorcycle and Scooter India (HMSI), Suzuki, and Royal Enfield reported impressive sales. A total of 20,81,510 two-wheelers were sold in October, thanks to the upbeat buying mood with the start of the festive season and new product launches. Both the domestic market sales and exports experienced a substantial increase.
Domestic sales reach new heights with 18L+ units sold
The six major manufacturers collectively sold 18,11,216 units this October, a 20.99% year-on-year (YoY) growth compared to 14,97,021 units in the same period last year. This marks a YoY volume growth of 3,14,195 units Moreover, the month-on-month (MoM) sales have also risen by 8.28% from September. Hero MotoCorp is currently leading the pack with 5,59,766 units sold in India.
Export figures show overall mixed results
Combined exported units totaled 2,70,294 units, showing a YoY growth of 2.55%. However, MoM exports declined by 4.16%. Bajaj Auto dominated the export market with a 48% share. Other automakers such as TVS Motor Company, HMSI, Suzuki, Hero MotoCorp, and Royal Enfield also reported varying YoY and MoM growth rates in their export figures.
Continued growth and competitiveness during festive season
The sales figures this October indicate continued growth and competitiveness in India's two-wheeler market, both domestically and internationally. With a total of 20,81,510 unit sales, representing an 18.23% YoY growth and a 6.49% MoM growth, the industry shows no signs of slowing down. The bikemakers continue to innovate and cater to consumers' evolving demands with new offerings or enticing benefits on our shores.
