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Royal Enfield, Honda, TVS Major Market Share Increase for April-December 2022

CalenderPublished at January 26, 2023 by BikeJunction
Royal Enfield, Honda, TVS Major Market Share Increase for April-December 2022

Numbers for the time period of April to December 2022 have been given by SIAM (Society Of Indian Automobile Manufacturers). Revealing motorcycle sales 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%). 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.

Hero MotoCorp: 39,21,309 Units Sold

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% to 32% over the course of the past year.

HMSI: 33,22,746 Units Sold

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 2% increase in market share, from 25.13% to 27.10%.

HMSI sold 7,64,367 more units between April and December 2022 than it did at the same time last year.

HMSI increased their overall bike sales by 31% to 14,28,996 units, giving it an 18% market share compared to 16% the previous year. However, the Activa family of scooters, which just welcomed the Activa H-Smart, is what gives HMSI its strength in the scooter market. The company sold approximately 1.9 million scooters in the last nine months, an increase of 29% year over year. However, its market share for scooters is now 47.51%, down from 48.65% a year earlier. Put that down to a slow market and rivalry from TVS, the No. 3 player.

TVS Motor Co: 33,22,746 Units Sold

With sales of 1.91 million units, TVS Motor Co. boosted its overall two-wheeler industry market share from 14.82% in April–December 2021 to 15.65%, a rise of over one%. If the market for mopeds hadn't experienced a 9% fall in demand, its growth rate would have been higher. This is because the only IC engine moped OEM in India is TVS.

Sales of the company's scooters have increased by 52% year over year to 9,35,934 units, which has allowed it to improve its market share of scooters by 3% to 23.48% from 20.41%. Additionally, it has experienced a 23% YoY increase in bike sales to 6,50,665 units, giving it an 8.19% market share in India's motorbike industry.

Bajaj Auto: 13,90,698 Units Sold

Bajaj Auto is in fourth place with 13,90,698 units, a 7% YoY increase. However, 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 growth, its overall market share has fallen from 12.78% to 11.34%.

Royal Enfield: 5,42,818 Units Sold

The other OEM with a substantial presence in the market is Royal Enfield, which is situated in Chennai alongside TVS. The manufacturer had a remarkable year-over-year increase of 50%, with overall sales of 5,42,818 units, raising its market share to 4.42% from 3.54%. When only considering bikes, RE's share has increased from 5.31% to 6.83%.

Sales in the 250cc-350cc class increased by 53.47%, from 3,25,789 units to 4,99,992 units, in just one year. Demand for the 650 twins increased 32% to 13,691 units, while sales in the 350cc-500cc category increased 17.74% to 29,135 units.

Suzuki Motorcycle India: 5,39,027 Units Sold

Scooters manufactured by Suzuki Motorcycle India Private Limited are progressing well, contributing to a small rise in the company's overall market share. Suzuki Motorcycle India sold a total of 5,39,027 units (up 23%), including 5,22,972 scooters (up 24%) and 16,055 bikes, falling 3,791 units short of Royal Enfield in the rankings (down 7%).

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