Two Wheeler Sales in August 2023 in India | Hero MotoCorp leading the market

In August 2023, the automotive industry witnessed a remarkable surge in retail sales, painting a picture of resounding growth and evolution within the sector. The Federation of Automobile Dealers Associations (FADA) Sales Analysis Report for this month revealed a promising 6.29 per cent Year-on-Year (YoY) increase and a 2.14 per cent Month-on-Month (MoM) upswing in two-wheeler retail sales, indicative of the robust momentum that the automotive market experienced.

This surge was not confined to two-wheelers alone; passenger vehicles, commercial vehicles (CVs), and even electric two-wheeler makers demonstrated significant strides forward. Several favourable factors propelled this impressive growth, and all signs pointed towards a sustained trend that could extend well into the forthcoming festive season.

In this comprehensive analysis, we delve into the specifics of the August 2023 sales figures, dissecting the performance of prominent automakers in the two-wheeler and electric vehicle segments. From established giants like Hero MotoCorp and Honda to the surging popularity of electric scooter makers like Ola Electric and Ather Energy, we explore the dynamic landscape of the automotive industry, spotlighting the key drivers behind this surge and the challenges faced by certain players.

Moreover, we take a closer look at the declining sales of some manufacturers and the impact of new product launches on the market. As the industry continues to evolve, these insights offer a valuable glimpse into the trends shaping the future of mobility in India and beyond.

Overall Growth: The automotive sector experienced outstanding sales growth in August 2023, with positive trends expected to continue into the upcoming festive season.

Year-on-Year (YoY) Growth:

• Two-wheeler retail sales increased by 6%.
• Passenger vehicle retail sales were higher by 6.5%.
• Commercial vehicle (CV) sales grew by 3%.
• Three-wheeler sales witnessed an impressive 66% growth.

Two-Wheeler Sales:

• Total two-wheeler sales in August 2023 reached 1,254,444 units, up 6.29% compared to August 2022.
• Month-on-month (MoM) sales improved by 2.14%.
• Hero MotoCorp led in sales with 3,48,026 units, followed by Honda with 3,10,091 units.

Hero MotoCorp:

• While Hero MotoCorp saw a YoY growth, its market share decreased from 29.26% to 27.74%.
• MoM sales showed a decline from 3,61,291 units in July 2023.

Honda:

• Honda witnessed marginal growth in sales from August 2022 to August 2023, reaching 3,10,091 units.

TVS Motor:

• TVS Motor saw remarkable YoY growth, with sales increasing from 1,94,501 units in August 2022 to 2,24,907 units in August 2023.
• The TVS iQube electric vehicle contributed significantly to this growth, and market share improved.

Bajaj Auto Limited:

• Bajaj Auto Limited reported growth in sales to 1,48,129 units in August 2023.
• Market share also increased from 10.29% YoY.

Suzuki and Royal Enfield:

• Suzuki and Royal Enfield both saw significant growth in sales compared to August 2022, with improved market shares.

India Yamaha Motors:

• India Yamaha Motors reported YoY growth in retail sales to 49,770 units in August 2023.

Electric Two-Wheelers:

• Ola Electric and Ather Energy experienced substantial growth in retail sales in August 2023.
• Ola sales improved significantly, driven by the introduction of three new models.
• Ather Energy also saw increased sales, with plans to compete with other electric scooter models.

Read Also : Electric Two-Wheeler Sales in August 2023 | Full Analysis

Declining Sales:

-Piaggio, Greaves Electric, Classic Legends, and Okinawa Autotech witnessed declines in sales compared to August 2022.

Other Electric Two-Wheelers:

-Several other electric two-wheeler manufacturers saw retail sales fall significantly compared to the previous year.

Sales analysis for August 2023

| Automaker | Two-Wheeler Sales (Units) | YoY Growth (%) | MoM Growth (%) | Market Share (%) ||---------------------|---------------------------|----------------|----------------|------------------|| Hero MotoCorp | 348,026 | +0.93 | -3.61 | 27.74 || Honda | 310,091 | +0.59 | -14.17 | N/A || TVS Motor | 224,907 | +15.61 | +1.10 | 17.93 || Bajaj Auto Limited | 148,129 | +22.07 | +20.71 | 11.81 || Suzuki | 69,119 | +21.03 | +7.18 | 5.51 || Royal Enfield | 58,484 | +11.53 | -11.21 | N/A || India Yamaha Motors | 49,770 | +4.57 | +5.83 | N/A || Ola Electric | 18,628 | +436.14 | N/A | N/A || Ather Energy | 7,064 | +31.59 | N/A | N/A || Piaggio | 2,973 | -15.11 | -14.79 | N/A || Greaves Electric | 2,923 | -11.53 | -9.48 | N/A || Classic Legends | 2,314 | -30.44 | -25.14 | N/A || Okinawa Autotech | 1,998 | -77.21 | -52.27 | N/A |

Please note that the market share values for some automakers are not available in the provided information. Additionally, some automakers experienced significant Year-on-Year (YoY) and Month-on-Month (MoM) growth, while others faced declining sales in August 2023 compared to the same month in the previous year.

CarBike360 Says

These trends suggest a dynamic and evolving market with strong growth in the two-wheeler and electric vehicle segments, while some traditional players faced challenges. The introduction of new models and innovative offerings is likely to continue driving sales in the sector.