MOTORCYCLE SALES
Royal Enfield sales dip 5% in June
"We remain steadfast on our long-term plans and are making considerable progress towards the same. This year will be an exciting one for Royal Enfield, as we have several new launches planned that will significantly strengthen our product portfolio," Royal Enfield CEO B Govindarajan said. This month, a highly anticipated roadster - the Guerrilla 450 - will be launched across the world and the company is excited about the possibilities it will unlock in the middle-weight category
Indian carmakers post SUV-led June sales growth amid heat waves
Carmakers Mahindra & Mahindra, Toyota Motor Corp's Indian unit, and Kia Motor reported increased car sales in June. This rise was driven by demand for sports utility vehicles (SUVs), despite heat waves affecting purchase decisions.
3,000,000 and counting: Hayabusa-inspired Maruti Suzuki Swift crosses a big milestone
Maruti Suzuki's Swift hatchback has surpassed 3 million sales in India, marking a significant milestone. Celebrated for its exceptional driving experience and sporty design, the Swift has cultivated a passionate community of "Swifters." Launched in 2005, the Swift continues to evolve, embodying cutting-edge technology and style, with over 6.5 million global sales.
Ola plans to launch four electric motorcycles, to start delivery of Ola S1 X models from FY25
Ola Electric has received SEBI approval for its IPO, aiming to raise up to Rs 5,500 crore through fresh equity and an offer for sale. The EV maker plans to expand its product line with new motorcycles and scooters while boosting production capabilities.
Auto industry body seeks cut in two-wheeler GST; SIAM suggests three-level slabs based on fuel types
Society of Indian Automobile Manufacturers (Siam) has requested a reduction in GST rates on two-wheelers in India. They proposed different slabs for different types of two-wheelers to lower the rates. Siam also wants the removal of the 3% cess on high cubic capacity bikes.
HMSI posts 45 per cent jump in domestic sales in May
Honda Motorcycle and Scooter India sold 4,50,589 units in India in May, 45 per cent higher than 3,11,144 units dispatched in May 2023. Exports increased to 41,458 units in May from 18,248 units in the year ago period. Total sales last month rose to 4,92,047 units from 3,29,393 units sold in May 2023.
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May 2024, saw marginal decline in domestic 2-wheeler sales, exports however were up
India's two-wheeler sales experienced a marginal decline in May 2024 compared to the previous year, with major manufacturers like Hero MotoCorp, Bajaj Auto, and Eicher Motors reporting declines. Hero MotoCorp sold 498,123 units, while Bajaj Auto sold 305,482 units. Eicher Motors sold 71,010 units, 8% lower than the previous year. However, all three companies reported growth in exports, with Eicher Motors exports growing by 12%.
Pakistan: Policeman caught selling stolen motorcycles, sting operation reveals
A shocking revelation emerged when a DSP at Karachi's AVLC was caught selling stolen motorcycles in a sting operation by ARY News.
After X-440, Hero and Harley-Davidson may bring more US models to India
Hero MotoCorp and Harley-Davidson Inc are expanding their India partnership. Hero is the third-largest seller in the premium segment after Bajaj Auto and Royal Enfield. Niranjan Gupta, CEO of Hero MotoCorp, highlights the growing market for roadsters.
Strong sales growth for entry-level two-wheelers in H2 of FY24; big relief for automakers
The trend continued in April, driven by an improvement in income levels thanks to healthy economic growth, making the automobile industry bullish of a sustained recovery in the twowheeler segment and sparking green shoots of recovery in small car sales.
Two-wheeler makers ride high on record sales of branded spare parts
Royal Enfield, Bajaj Auto, and Hero MotoCorp saw record revenue in FY24 from branded parts and accessories sales, driven by a preference for branded spares. Revenue growth was boosted by premium models like Xpulse and Splendor motorcycles. Hero MotoCorp plans to expand its Global Parts Centre to capitalize on the growing market.
Eicher Motors Q4 results: PAT jumps 18% YoY at Rs 1,070.45 crore. Rs 51/share dividend announced
Eicher Motors recorded an 18% YoY increase in consolidated net profit to Rs 1,070.45 crore for Q4 2024, with sequential growth of 7.5%. Total revenue reached Rs 4,256.04 crore, up 12% YoY. The board declared a final dividend of Rs 51 per share, totalling Rs 1,396.41 crore.
Bikes will retake pre-covid peak in two years: TVS
Two-wheeler sales in India are expected to surpass pre-Covid peak this fiscal year or next, according to Sudarshan Venu, managing director at TVS Motor Company. The Indian economy is in a "good situation" with inflation under control, which will drive consumption going forward. TVS Motor is planning to launch multiple products to grow faster than the market, including a slew of electric vehicles (EVs) at varied price points to cater to diverse customers.
TVS Motor Co expects 25-30% of 2-wheeler sales to come from EVs: MD Sudarshan Venu
TVS Motor Company is expecting electric vehicles (EVs) to account for 25-30% of its total two-wheeler sales in the next two to three years, according to Managing Director Sudarshan Venu. The company plans to invest Rs 5,000 crore in the design, development, and deployment of future technologies, products, and digital capabilities. In FY24, EV sales grew by 101 per cent, reaching 1.94 lakh units. TVS plans to introduce another electric scooter this year, and its EV presence will be across both scooters and motorcycle segments.
Hero MotoCorp Q4 Results Preview: Robust volumes to drive revenue, profit higher; margins to expand
Hero MotoCorp Q4 Results Preview: Hero MotoCorp is poised for robust growth in Q4, with a projected 14% surge in revenue propelled by increased volumes and average selling prices (ASPs). Profit is forecasted to climb by 22%, bolstered by a 10% uptick in volume. Additionally, the company anticipates a 123 basis points improvement in EBITDA margins.
TVS Motor posts 25% increase in sales in April over corresponding period last year
TVS Motor reported a 25% increase in April sales, selling 3,83,615 units compared to 3,06,224 units last year. Two-wheeler sales surged by 27%, with domestic sales up 29%. Motorcycle sales grew by 24%, while scooter sales rose by 34%. However, three-wheeler sales declined. Electric vehicle sales soared to 17,403 units.
Bajaj Auto aims to make 10,000 Triumph units a month by September, CFO says
Bajaj Auto targets 10,000 units monthly for Triumph motorcycles by September, with a robust financial performance driven by rural India's demand for entry-level models and steady mid-level motorcycle sales.
Halve your fuel expense? Bajaj's CNG bike may do just that
Bajaj Auto plans to disrupt the entry-level motorcycle market with the world's first CNG-run motorcycle, aiming to halve monthly fuel expenses. The bi-fuel motorcycles, priced at a premium, will challenge Hero MotoCorp's dominance. Bajaj aims to capitalize on the mileage-conscious entry-level segment, where it currently holds an 8% share. The move aligns with government carbon reduction goals and leverages Bajaj's experience in CNG three-wheelers. Launching first in Maharashtra and Gujarat, Bajaj plans to expand its CNG motorcycle portfolio in India and select international markets.
Honda Motorcycle and Scooter domestic sales surge 81 pc to 3,58,151 units in March
Exports increased 95 per cent to 28,304 units last month from 14,460 units in March 2023, Honda Motorcycle & Scooter India (HMSI) said in a statement. The total sales rose to 3,86,455 units last month against 2,12,002 units in the same month last year, it added.
India's motorcycle and scooter sales likely crossed pre-Covid levels in FY 23-24
Industry estimates show domestic two-wheeler sales rose about 13% to 18.4-18.5 million units in FY24. Petrol-powered models comprised more than 95% of the total sales at about 17.5 million units.
Royal Enfield wholesales rise 6 pc in February
Royal Enfield, a part of Eicher Motors, reported a 6% YoY increase in wholesales to 75,935 units in February. Domestic sales grew 5% to 67,922 units, and exports rose 13% to 8,013 units. Existing motorcycles contributed to the strong growth. CEO B Govindarajan is confident about a healthy overall performance.
Hero MotoCorp vehicle sales rise to 4,33,598 units in January
Hero MotoCorp reports a 22% YoY increase in vehicle sales for January, reaching 4,33,598 units. Domestic sales show a 20% growth, totaling 4,20,934 units. Motorcycle sales contribute significantly to the overall figure, with a 21% rise to 3,02,056 units.
HMSI domestic overall sales rise 42 pc to 4,19,395 units in January
Honda Motorcycle & Scooter India (HMSI) Pvt Ltd had dispatched a total of 2,96,375 units to the market in January 2023, according to a statement. Of the total sales, domestic volumes rose 37 per cent to 3,82,512 units in January from 2,78,155 vehicles in the year-ago period, HMSI said. Exports grew a whopping 102 per cent year-on-year at 36,883 units in the previous month, it stated.
Royal Enfield posts 2pc rise in sales at 76,187 units in Jan
"Our recently launched motorcycles continue to perform well across markets, and we have had a great start to the new year. We are confident that we will sustain our growth momentum for months to come," said B Govindarajan, CEO at Royal Enfield.
Honda Motorcycle and Scooter sales rise 27% to 3,17,123 units in December
Honda Motorcycle and Scooter India recorded a 27 per cent increase in total sales at 3,17,123 units in December 2023 as compared to 2,50,171 units in the year-ago period. Domestic sales were at 2,86,101 units last month, as compared to 2,33,151 units in December 2022, at a growth of 22.71 per cent, Honda Motorcycle and Scooter India (HMSI) said in a statement.
Suzuki Motorcycle India's vehicle sales grow 24 pc in Dec
Suzuki Motorcycle India Pvt Ltd (SMIPL), a subsidiary of Suzuki Motor Corporation, had sold 63,912 vehicles in December, as per a company statement. Of the total two-wheeler sales last month, the domestic sales volume stood at 69,025 units, while the remaining 10,458 units were retailed in the overseas markets, it stated.
TVS Motor eyes larger chunk of market in premium motorbike category
TVS Apache: TVS Motor aims to seize a bigger part of India's premium motorcycle market, predicting its growth due to rising wealth. With expanding infrastructure and higher incomes, people are exploring and spending more, said Vimal Sumbly, head of premium business at TVS Motor. The company aims to boost its share in this segment by offering not just bikes but experiences and community initiatives.
ET Explainer: Why are two-wheeler sales picking up in rural markets when other categories are under stress?
The two-wheeler industry in India has seen a decline in sales due to rising prices and the pandemic's economic impact. Sales of motorcycles, scooters, and mopeds fell nearly half to 13.58 million units in FY22. However, rural markets are showing signs of a turnaround, with moderating inflation and improved disposable incomes. Motorcycles continue to dominate two-wheeler sales in India, accounting for about 65% of the market. The growth in rural sales is driven by pen-up demand, moderating inflation, and a stable job market.
TVS Motor Co sales rise 31 pc to 3,64,231 units in November
TVS Motors has reported a rise of 31 per cent in November. Total exports were lower at 75,203 units in November 2023 from 84,134 units in the same month last year, the company said.
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