2-Wheeler Retail Shines: September 2023 Records Over 20% YoY Growth

India is of primary importance for OEMs as being among the largest 2W markets globally. Festive season and a large potential for sales added up to 2W retail sales in September 2023. The sales turned out pretty interesting compared to August 2023. Hero has topped the charts, followed by Honda, TVS, Bajaj, Suzuki, Royal Enfield, Yamaha, Ola, Ather, Greaves (Ampere), Piaggio, Classic Legends, Okinawa & others, in order.
 

2W Retail Sales September 2023 

Similar to clockwork, with 3,51,781 units sold last month, Hero MotoCorp has once again secured the top position. Market share was a remarkable 26.81%, up from a share of 24.99% only a year prior. With 3,48,899 units sold last month, former partner & current rival Honda Motorcycles & Scooters India (HMSI) secured the 2nd position.
 

Honda's market share is roughly equal to that of Hero MotoCorp with 26.59%, down from 27.67% shares last year. In India, Hero & Honda collectively account for more than half of total 2W sales, significantly. TVS Motor managed to secure 3rd position with 2,28,852 units sold.
 

In the Indian 2W market, TVS currently holds 17.44% market shares, up from 16.56% share from the previous year. With the recently launched TVS X & Apache RTR 310, the company is leading into the premium 2W category. Bajaj & Chetak collectively secured 4th position on this ranking.
 

Bajaj boosted its market share from 10.76% to 11.38% with close to 1.5 Lakhs units sold, compared to September 2022. Suzuki India has increased its market share from 5.28% to 5.60% in India, compared to previous year. Suzuki remarkably sold 73,452 units in September 2023 compared to 56,893 units in 2022.
 

Royal Enfield lost market share YoY

Royal Enfield has lost a significant amount of market share YoY as a result of the growth in sales of competing brands, down from 5.37% to 4.81%. Despite this, sales increased YoY with 63,084 units sold compared to 57,910 units sold last year. Down from 4.11% YoY, Yamaha India secured 3.77% of the market with 49,510 units sold.
 

Ola Electric is leading the 2W startups in India with 18,647 units sold last month. The company anticipates a new high in sales with Ola S1X & Ola S1X+. The company doubled its sales YoY with securing 1.42% of market share, up from 0.92% previous year. With 7,123 units sold, Ather secured 0.54% market share.
 

The Ampere by Greaves sold 3,605 electric scooters last month. The number followed by Piaggio with 2,925 Vespas sold & Aprilia 2Ws, Classic Legends 2,427 Jawa & Yezdi bikes sold & Okinawa with 1,789 units sold. Additionally, other EVs collectively sold 10,693 units. The 2W retail sales amounted for 13,12,101 units sold overall, a substantial YoY gain, compared to 10,78,286 units sold in September 2022.
 

FADA’s remarks

FADA President, Mr. Manish Raj Singhania, reported a 14% increase in September 2023 2W retails compared to pre-COVID benchmarks. The sector saw growth of 2% for the first time, driven by new models, promotional offers & improved market sentiment, particularly in rural areas.
 

Till we get more information about new launches & teasers, read about the Recent Reveal of Royal Enfield Himalayan 452 Before Its Launch.

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