Honda, TVS, Royal Enfield see market share growth in 2022, check details

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Honda, TVS, Royal Enfield all see market share growth in 2022, check details (Image:
Honda, TVS, Royal Enfield all see market share growth in 2022, check details (Image:

Delhi : Numbers for the time period of April to December 2022 have been given by SIAM (Society Of Indian Automobile Manufacturers). Sales of motorcycles increased by 17% in the first nine months of the fiscal year, while scooter sales increased by 32% and moped sales increased by 32% and 33%, respectively (down 9 percent). These figures, however, are much lower than those for April to December 2019 (1.39 crore units total sales - 44,63,954 scooters, 89,55,215, and 4,95,805 mopeds), as well as April to December 2018. (total sales: 1.65 crore units – scooters: 53,24,125, motorcycles: 1.05 crore, mopeds: 661,923). Let's look at how each of the market's key competitors performed.

39,21,309 units for Hero MotoCorp

The nation's largest two-wheeler manufacturer, Hero MotoCorp, recorded sales of 3.92 million units, an increase of 11% from the previous year. Motorcycles made up 36,39,140 of these, or 93% (up 10%), while scooters made up 2,82,169, or 7%, of the total.

Hero MotoCorp's overall bike and scooter market share has dropped from 34.75 percent to 32 percent over the course of the past year.

33,22,746 units in HMSI

Honda Motorcycle & Scooter India trails the market leader by about 6,000 units (HMSI). Honda, however, has experienced faster growth than Hero, which has resulted in a two percent increase in market share, from 25.13 percent to 27.10 percent.

HMSI sold 7,64,367 units more during the April-December 2022 timeframe than it did during year ago.

HMSI sold 14,28,996 bikes, a 31 percent increase, giving it a market share of 18 percent vs 16 percent a year before. However, HMSI's strength stems from its sheer dominance in the scooter market, which is led by its Activa line, which recently added the Activa H-Smart. The company has sold approximately 1.9 million scooters in the last nine months, up 29 percent year on year, and has a scooter market share of 47.51 percent, down one percent from 48.65 percent a year earlier. Put it down to a slow market and competition from the No. 3 company, TVS.

TVS Motor Company sold 33,22,746 vehicles.

With sales of 1.91 million units, TVS Motor Co boosted its entire two-wheeler industry market share to 15.65 percent from 14.82 percent in April-December 2021. Its growth rate would have been higher if demand for mopeds had not dropped by 9%. TVS is India's sole IC engine moped OEM.

The company increased its scooter sales by 52 percent year on year to 9,35,934 units, allowing it to improve its scooter market share by three percentage points to 23.48 percent from 20.41 percent. Its bike sales have also increased 23 percent year on year to 6,50,665 units, giving it an 8.19 percent share of India's motorcycle market.

13,90,698 units for Bajaj Auto

Bajaj Auto is in fourth place with 13,90,698 units, a 7 percent YoY increase. Similar to Hero MotoCorp, Bajaj has also been negatively impacted by the decline in demand for entry-level motorcycles; as a result of its single-digit increase, its overall market share has fallen from 12.78 percent to 11.34 percent.

5,42,818 Royal Enfield motorcycles

The other OEM with a large market presence in Chennai, in addition to TVS, is Royal Enfield. The manufacturer's overall market share rose to 4.42 percent from 3.54 percent with total sales of 5,42,818 units, a remarkable 50 percent YoY rise. When only considering motorcycles, RE's share is currently 6.83 percent, up from 5.31 percent a year ago.

Sales in the 250cc-350cc segment increased 53.47 percent from 3,25,789 units a year earlier to 4,99,992 units. Sales of 350cc-500cc motorcycles increased by 17.74% to 29,135 units, and demand for 650 twins increased by 32% to 13,691 units.

Suzuki Motorcycles: 5,39,027 units sold in India

Suzuki Motorcycle India is making significant progress with its scooters, which has contributed to a small gain in its overall market share. Suzuki sold a total of 5,39,027 units (up 23 percent), trailing Royal Enfield by 3,791 units. This included 5,22,972 scooters (up 24 percent) and 16,055 bikes (down 7 percent).