Bike and scooter makers clocked sales growth in December 2020

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In sync with the passenger vehicle industry, two-wheeler manufacturers have ended 2020 on a slightly happy note. However, it is to be seen if the sales momentum can be sustained in 2021. While the numbers, from six two-wheeler makers, indicate year-on-year (YoY) growth, the month-on-month (MoM) numbers are down by 29 percent, which is 7 percent more than the previous month. Let’s have a look at the six pack of OEMs who have released their December 2020 sales / despatch numbers. 

  • December 2020 sales figures better those in December 2019
  • Royal Enfield and Yamaha post sales growth of over 30 percent YoY
  • Honda Motorcycle & Scooter India sales down 41 percent MoM

Hero MotoCorp: 4,47,335 units / 5 percent

The world’s largest two-wheeler manufacturer Hero MotoCorp sold around 4,47,335 units, registering a 5 percent growth on a YoY basis (December 2019: 4,24,845). This total comprised 4,15,099 motorcycles and 32,236 scooters that were sold during the period. On a MoM basis, this is a 24 percent drop, as 5,91,091 units were sold in November 2020. 

The company further consolidated its market leadership by clocking its best-ever third quarter, with 18.45 lakh units sold during the October-December period. This is a 19.7 percent growth over the corresponding quarter in the previous fiscal (FY2020). 

Honda Motorcycle & Scooter India: 2,42,046 units / 5 percent

Signalling its demand recovery continuing after the festival season, Honda’s two-wheeler YoY sales uptick continued for the fifth consecutive month in December. Honda’s domestic sales grew 5 percent to 2,42,046 units in 2020’s last month, compared to 2,30,197 units a year ago. But, on a MoM sales basis, HMSI sees a 41 percent decline, having sold 4,12,641 units during November 2020. With exports of 20,981 units, Honda’s total sales in December 2020 closed at 2,63,027 units with a 3 percent growth over 2,55,283 units last month. 

Yadvinder Singh Guleria, Director – Sales & Marketing, Honda Motorcycle & Scooter India said, “After the positive retail and wholesale traction in December 2020, we enter 2021 with new hope. The third quarter marked the first quarter of positive sales after a long time. The next two quarters too, are expected to show some growth due to the low base effect but real positive growth and market expansion may take some time.”

TVS Motor Co: 1,76,912 units / 13 percent

Chennai-based TVS Motor Company’s two-wheeler domestic two-wheeler sales grew by 13 percent, registering 1,76,912 units in December 2020 as against 1,57,244 units in December 2019. The company had sold 2,47,789 units in November 2020, which is a 29 percent drop on the MoM sales. The motorcycle and scooter sales stood at 1,19,051 units and 77,705 units, respectively.

Though the two-wheeler OEM’s exports were affected last month by the cyclone Nivar, the company registered a YoY growth of 39 percent with 81,327 units in December 2020. 

Bajaj Auto: 1,28,642 units / 4 percent

Bajaj Auto posted a 32 percent decline in MoM sales (November 2020: 1,88,196 units). In India, the company registered 4 percent growth, with 1,28,642 units sold; up from 1,24,125 units in December 2019. Exports saw 31 percent growth with 2,09,942 units.

The Pune-based two-wheeler manufacturer recently became the first two-wheeler company to globally to cross a market capitalization of Rs 1 lakh crore. This market cap is considerably higher than all other domestic two-wheeler companies.

Royal Enfield: 65,492 units / 35 percent

Chennai-based Royal Enfield registered domestic sales of 65,492 units for the month, posting a 35 percent growth compared to same period last year (48,489 units). Exports saw 82 percent growth with 3,503 units sold. Total sales stood at 68,995 units in December 2020, with a growth of 37 percent. Around 59,084 units were sold during the month November 2020, which is an 11 percent growth on a MoM basis. It is understood that the recently launched cruiser, the Meteor 350, has boosted sales for the midsize motorcycle segment player.

Yamaha Motor India: 39,224 units / 33 percent 

Yamaha Motor India clocked total sales of 39,224 units in December 2020. This is a 33 percent growth when compared to the same period last year, (29,486 units – Dec 2019). The company sold around 53,208 units in November 2020 registering a sales decline of 26 percent on a MoM basis. The company has been reporting growth in its sales volumes consecutively over the past six months, following the lifting of the COVID-led lockdown. With a strong focus in 2020, Yamaha had registered positive growth on a YoY basis. The company expects overall demand to grow in 2021, owing to a varied demand for personal mobility. 

2021 has begun and the rural Indian market is showing signs of growing further in the coming months, which could spell good news for commuter motorcycle sales. However, demand from urban India, which accounts for the majority of scooter sales, is still tepid. The buzzword for industry is: cautiously optimistic.

SRICHARAN R

Two-wheeler sales in India
Company Dec 2020 Dec 2019 Change (units) Change (%) Nov 2020 Change (units) Change (%)
Hero MotoCorp 4,47,335 4,24,845 22,490 5% 5,91,091 -1,443,756 -24%
Honda Motorcycle & Scooter India 2,42,046 2,30,197 11,849 5% 4,12,641 -1,70,595 -41%
TVS Motor Company 1,76,912 1,57,244 19,668 13% 2,47,786 -70,877 -29%
Bajaj Auto 1,28,642 1,24,125 4,517 4% 1,88,196 -59,544 -32%
Royal Enfield 65,492 48,489 17,003 35% 59,084 6,408 11%
Yamaha Motor India 39,224 29,486 9,738 33% 53,208 -13,984 -26%
TOTAL 10,99,651 10,14,386 85,265 8% 15,52,009 -4,52,358 -29%

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