July 2023 Two-Wheelers Sales: How did Hero, Tvs Motors, Bajaj Auto, and Eicher Motors perform?

Leading automobile manufacturers such as TVS Motors, Suzuki,  Hero MotoCorp, Bajaj Auto, Eicher Motors, and Honda, among others, have announced their monthly sales reports.

India's automotive industry has advanced to the third largest globally, only behind China and the US. 

In July 2023, Hero MotoCorp led the market with the highest sales, reaching 3,91,310 units, however, its sales weakened. In contrast, Honda faced a significant sales drop of 23%, managing to sell only 310,867 units. The two-wheeler sector saw a hefty 23% decrease, indicating the harsh effect of soaring interest rates on consumer demand.

 
July Auto Sales: Snapshot 

Hero Motocorps Sales:

In July 2023, Hero MotoCorp's sales dropped by 12.17% to 3.91 lakh units from 4.45 lakh in 2022. Scooter sales increased by 26.4% to 30,718 units, but motorcycle sales fell by 14.4% to 360,592 units.

This decrease in domestic sales, down 13.8%, was due to extreme weather, including flooding, and discourage customers from visiting dealerships, according to Hero. However, exports grew by nearly 40% to 20,106 units.

Focusing on the premium market, Hero MotoCorp enhanced its lineup with the Xtreme 200S 4V, following the Xtreme 160R 4V announcement. The new Xtreme 200S 4V, launched in July for INR 1,41,250, offers powerful performance, sportiness, safety, and practicality.

Hero MotoCorp has recorded over 25,000 orders for the Harley-Davidson X440, with over 65% of these for the top model costing Rs 2.69 lakh (ex-showroom).

TVS Motor Company Ltd Sales:

TVS Motor Company's sales rose by 4% to 3.25 lakh units in July 2023 from 3.14 lakh units the previous year. This included a 4% growth in total two-wheeler sales, reaching 312,307 units. The domestic two-wheeler market saw a notable 17% increase, reaching 235,230 units.

Motorcycle sales saw a slight rise of 2%, reaching 153,942 units in July 2023 from 150,340 units in 2022. Scooter sales also increased, growing by 5% to 121,941 units compared to 116,500 units the previous year.

Sales of TVS iQube Electric doubled to 13,306 units in July 2023 from 6,304 in July 2022. However,  two-wheeler exports dropped to 89,213 and 77,077 units in July 2023, down from 97,716 units the previous year.

Bajaj Auto Groups Sales:

In July, Bajaj Auto experienced a 15% decrease in their two-wheeler sales, managing to sell only 2.68 lakh units due to ongoing weak demand in both local and international markets. The overseas sales slipped by 16% to 1.26 lakh units compared to 1.50 lakh in July 2022, while domestic sales also saw a reduction of 14%, selling 1.41 lakh units in contrast to 1.64 lakh units sold in the same month of the previous year.

Eicher Motors( Royal Enfield) Sales:

Eicher Motors reported a 32% growth in their two-wheeler sales, selling 73,117 units in July 2023 compared to 55,555 units in July 2022. Models with an engine capacity of up to 350cc had a significant sales increase of 39%, reaching 64,398 units from 46,336 units. However, models with engines over 350cc experienced a 5% decline, selling 8,719 units compared to 9,219 units in the previous year. International sales witnessed a 22% decrease, selling only 7,055 units in July 2023 as opposed to 9,026 units in July 2022.

Honda Sales:

Honda observed a significant 23% drop in its two-wheeler sales, with only 3.10 lakh units sold in July 2023, compared to 4.02 lakh units in the same month of the previous year. Despite this downturn, Honda still maintained a total market share of 24.35%.

Suzuki Motorcycle Sales:

 Suzuki experienced a substantial 32% rise in sales, achieving 80,309 units in July 2023, an improvement from 60,892 units sold in July 2022. This performance contributes to Suzuki's current 5% share of the market.

July 2023 2-wheeler sales: Historical Share Price Performance