TVS Motors Market Share in the Scooter Market is on the Rise for the April-January Period

CalenderPublished at February 17, 2023 by BikeJunction
TVS Motors Market Share in the Scooter Market is on the Rise for the April-January Period

India's scooter market has been experiencing a steady decline for more than two years, but it is now beginning to rebound. The Society of Indian Automobile Manufacturers (SIAM) further revealed that a total of 43,61,347 units were shipped between April 2022 and January 2023. This represents a 9,79,594 unit increase or a 29% year-over-year gain compared to the 33,81,753 unit period from April 2021 to January 2022.

Petrol scooter OEMs market share: details

The top five Manufacturers account for 41,35,615 units or 95% of the total; however, when broken down further, the top three players—Honda Motorcycle & Scooter India (HMSI), TVS Motor Company, and Suzuki—have a combined total of 36,69,244 units or 80% of the industry figures. While all three of these companies have had growth of above 20%, TVS has experienced the highest growth (at 50%), as evidenced by its increase in market share to 24% from 20.4% a year ago.

HMSI, the industry leader in scooter sales with 20,43,993 units, had a 24% increase in that time. In comparison to 48.66% a year ago, Honda now has a market share of 46.86%. In contrast, TVS, which sold 10,36,288 units during the aforementioned time, experienced a 50% YoY rise. This indicates that TVS currently accounts for half of all Honda scooter sales.

With 5,88,963 units sold in the first 10 months of FY2023, Suzuki Motorcycles India sold 1,08,327 more units than in the same period last year, but despite this, its market share fell to 13.50% from 14.21%.

Electric scooter OEMs' market share: details

Okinawa Autotech, Ather Energy, and Bajaj Auto, three of SIAM's EV members, have all fared well as a result of the expanding market for electric two-wheelers. Although Ather Energy has 68,511 units and a 1.57% market share of the global scooter market, Okinawa has 88,860 units and experiences a 52% YoY growth. With 27,977 units sold, the Chetak e-scooter, the only EV produced by Bajaj Auto, now has a 0.64% market share.

The government's Vahan database showcases that 1,13,498 units of Ola scooters have been registered in the first 10 months of FY2023, making Ola Electric the market leader in the EV segment despite the fact that it is not a SIAM member and does not publicly disclose its sales figures.

Scooter sales are still below pre-Covid FY2020 levels

With February & March sales still to be tallied, overall statistics for FY2023, at the industry's present rate of growth, can be predicted to be in the neighbourhood of 5 million units. However, this will still fall short of the record 6.71 M units in FY2018 and 6.70 M units in FY2019, as well as the pre-Covid FY2020 total of 5.5 million units.

Although the domestic market situation has significantly improved since a year ago, the demand for motorcycles and scooters has not yet reached pre-covid levels. The price of owning a two-wheeler has gone up in the last few years, which has affected demand in the crucial entry-level category. Moreover, sales from rural India haven't yet produced a consistent increase.

Yet, it seems as though further expansion is promised.

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