NEW DELHI
India’s two-wheeler manufacturers have made impressive gains in the November wholesale rally, on the back of favourable economic indicators, including the ongoing marriage season and positive consumer sentiments. Leading the pack, Chennai based TVS Motor Company’s dispatches to showrooms grew by 31 per cent y-o-y in November 2023, at 364,231 units as against 277,123 units in November 2022. Total two-wheelers registered a growth of 34 per cent with sales increasing from 263,642 units in November 2022 to 352,103 units in November 2023. Domestic two-wheeler registered growth of 50 per cent with sales increasing from 191,730 units in November 2022 to 287,017 units in November 2023.
Motorcycle registered a growth of 19 per cent with sales increasing from 145,006 units in November 2022 to 172,836 units in November 2023. Scooter registered a growth of 62 per cent with sales increasing from 83,679 units in November 2022 to 135,749 units in November 2023. In the electric category, TVS Motors sold 16,782 units in November 2023 as against sales of 10,056 units in November 2022. The booking pipeline for TVS iQube continues to be healthy. Globally, the company’s total exports registered sales of 75,203 units in November 2023 as against 84,134 units registered in November 2022. Two-wheeler exports registered sales of 65,086 units in November 2023 as against 71,912 units in November 2022. Customer retails continue to grow in the global markets. The three-wheeler sales of the company were 12,128 units in November 2023 as against 13,481 units in November 2022. Hero Motocorp sold more than 4.91 lakh motorcycles and scooters in November 2023, registered a double-digit growth of 26 per cent over the corresponding month of the previous fiscal when it sold 390,932 units in November 2022. The company expects demand to be on a healthy trajectory in the coming months on account of favourable economic indicators, including the ongoing marriage season and positive consumer sentiments.
Gearing up to meet the demand expectations, Hero MotoCorp has lined up a slew of initiatives, including extensive growth plans to expand its footprint in electric mobility, enter new ICE vehicles categories and foray into Europe. The company has unveiled three concept vehicles – Concept 2.5R XTunt, Lynx and Acro as well as three production-ready vehicles – Xoom (125R & 160), Vida V1 Pro and Vida V1 Coupe.
Honda Motorcycle and Scooter India registered a growth of 20 per cent in its sales during the festive season compared to the same period last year. The total sales for the month stood at 4,47,849 units with domestic sales of 4,20,677 units and 27,172 units of exports. The company is strengthening its position in the premium mid-size 350cc motorcycle segment with the all-new retro classic CB350 launched at a special price of Rs 1,99,900 (ex-showroom, Delhi), and integrates cutting edge technology and refined performance.