Two-wheeler sales soar in October; TVS, Hero MotoCorp lead the charge

In October, major two-wheeler manufacturers in India experienced a significant boost in domestic sales, largely attributed to the festive season. Companies like TVS Motor Company, Hero MotoCorp, and Royal Enfield reported YoY increases ranging from 13% to 26%. TVS led the charge with a 13% rise, selling 390,489 units, while Hero MotoCorp achieved a 17.4% increase, reaching 657,403 units, thanks to its successful ‘Grand Indian Festival of Trust’ campaign. Royal Enfield saw the most substantial growth at 26%, selling 101,886 motorcycles, marking its highest monthly sales ever. In contrast, Bajaj Auto faced an 8% decline in domestic sales, attributed to weaker-than-expected demand during the Dussehra festival.

In terms of exports, Indian motorcycle manufacturers also reported positive growth in October. TVS Motor recorded a 16% increase in two-wheeler exports, totalling 87,670 units, while Hero MotoCorp saw a remarkable 43% rise in exports. Bajaj Auto's exports grew by 24%, reaching 158,463 units, and Royal Enfield experienced an impressive 150% surge, driven by expanding market presence in South Asia and Latin America. Overall, the festive season spurred significant domestic sales growth despite challenges faced by some manufacturers.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.