Scooter sales surpass half million mark for 4th consecutive month
India's scooter market is on a roll, with sales reaching 509,119 units in November. This is the fourth month in a row where the sales crossed the half-million mark. The Society of Indian Automobile Manufacturers (SIAM) data shows between April and November 2023, scooter sales reached 3,964,293 units, a 7% increase compared to last year. In November, scooters made up 31.36% of the total two-wheeler sales, boasting a strong 23% year-over-year (YoY) growth.
Honda, TVS, Suzuki dominate scooter market
The lion's share of the overall scooter sales, a whopping 96%, came from the top five OEMs of the SIAM's 10 scooter members. Notably, Honda, TVS Motor Company, and Suzuki together hold 84% of the market. However, Honda's bestselling Activa scooters saw their market share drop to 44.28% from 48.11% a year ago, while TVS scooters experienced a 14% growth and increased their share to 25%. Suzuki's share also rose from 13% to 14.64%.
EV OEMs also witnessed strong sales
Electric scooter makers Ather Energy and Bajaj Auto saw impressive sales from April to November. Ather sold 68,220 e-scooters, capturing a 1.72% market share, while Bajaj sold 62,991 units of Chetak EV, raising its share to 1.58% from 0.62% a year ago. However, non-SIAM member Ola Electric took the lead in the electric two-wheeler market with 2,36,441 unit sales in the first 11 months of 2023. Its sales are expected to cross the 250,000-unit mark by year-end.
Scooter industry projected to maintain growth
The average monthly scooter sales for April-November 2023 were 495,536 units. If this pace continues for the remaining four months of FY 2024, the scooter industry could add another 1.98 million units to the fiscal total. This would result in an estimated FY-2024 total of around 5.94 million units, surpassing both the FY 2023 and pre-COVID-19 FY 2020 figures.
