Sales figures for the six heavyweight OEMs in the Indian two-wheeler industry for the last month of FY2023 have been revealed and here’s how each brand fared.
Hero MotoCorp: 5,02,730 units
Hero MotoCorp continues to lead the way in the Indian market with sales of over 5 lakh units in March 2023. Compared to its figure for February 2023, which stood at 3,82,317 units, this represents an increase of 31.5 percent. And compared to its figure for March 2022 (4,15,764 units), Hero recorded 20.9 percent growth. Hero recently appointed Niranjan Gupta, its former CFO, as the company's CEO, effective from May 1, 2023.
TVS Motor Company: 2,40,780 units
Hosur-based TVS Motor Company recorded a 39 percent increase in its sales figure for March 2023, compared to the 1,73,198 units it sold in February 2023. Even when compared to its figure for March 2022 (1,96,596 units), it reported a 22.4 percent increase. Recently, the TVS Apache motorcycle line-up crossed the 5 million units sales milestone.
Honda Motorcycle and Scooter India (HMSI): 1,97,512 units
Honda’s March 2023 sales have dipped below its Feb 2023 figure of 2,27,064 units, which represents a decline of 13 percent. Compared to the massive 3,09,549 units Honda managed to sell in March 2022, thats a decline of 36.2 percent. With its new Shine 100 and updates to its ever-popular Activa lineup, Honda will be hoping to claw back some ground and reclaim its second position spot.
Bajaj Auto: 1,52,287 units
Bajaj reported a 26.5 percent increase in sales compared to its sales figure for February 2023, which stood at 1,20,335 units. In comparison to its March 2022 sales figure (1,07,081 units), the Chakan-based bikemaker reported an increase of 42.2 percent. Recently, Bajaj updated its popular NS160 and NS200 models and you can read our review here.
Suzuki: 73,069 units
Suzuki recorded a 39.3 percent increase when compared to its February 2023 sales figure, which stood at 52,451 units. Even compared to its figure for March last year (50,734), the Hamamatsu-based marque reported a growth of 44 percent in its sales figure. Suzuki recently updated its entire scooter line-up to meet the more stringent OBD-2 norms.
Royal Enfield: 59,884 units
Managing to sell 59,884 units in March 2023 compared to the 64,436 units it sold in February 2023 saw Royal Enfield post a 7 percent decline. However, when compared to its sales figure for March 2022, when it managed to sell 58,447 units, the Chennai-based manufacturer recorded a 2.4 percent increase. Recently, the company launched its most accessible modern-era motorcycle, the Hunter 350, which has already crossed the 1 lakh sales milestone.
| March 2023 two-wheeler sales | |||||
|---|---|---|---|---|---|
| March 2023 | March 2022 | Change | February 2023 | Change | |
| Hero | 5,02,730 | 4,15,764 | 20.9% | 3,82,317 | 31.5% |
| TVS | 2,40,780 | 1,96,596 | 22.4% | 1,73,198 | 39% |
| Suzuki | 73,069 | 50,734 | 44% | 52,451 | 39.3% |
| Royal Enfield | 59,884 | 58,447 | 2.4% | 64,436 | -7% |
| Honda | 1,97,512 | 3,09,549 | -36.2% | 2,27,064 | -13% |
| Bajaj | 1,52,287 | 1,07,081 | 42.2% | 1,20,335 | 26.5% |
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