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"Hero MotoCorp dominates India's two-wheeler market in August 2023. Check out the latest sales figures and trends."
In August 2023, the automotive industry witnessed a remarkable surge in retail sales, painting a picture of resounding growth and evolution within the sector. The Federation of Automobile Dealers Associations (FADA) Sales Analysis Report for this month revealed a promising 6.29 per cent Year-on-Year (YoY) increase and a 2.14 per cent Month-on-Month (MoM) upswing in two-wheeler retail sales, indicative of the robust momentum that the automotive market experienced.
This surge was not confined to two-wheelers alone; passenger vehicles, commercial vehicles (CVs), and even electric two-wheeler makers demonstrated significant strides forward. Several favourable factors propelled this impressive growth, and all signs pointed towards a sustained trend that could extend well into the forthcoming festive season.
In this comprehensive analysis, we delve into the specifics of the August 2023 sales figures, dissecting the performance of prominent automakers in the two-wheeler and electric vehicle segments. From established giants like Hero MotoCorp and Honda to the surging popularity of electric scooter makers like Ola Electric and Ather Energy, we explore the dynamic landscape of the automotive industry, spotlighting the key drivers behind this surge and the challenges faced by certain players.
Moreover, we take a closer look at the declining sales of some manufacturers and the impact of new product launches on the market. As the industry continues to evolve, these insights offer a valuable glimpse into the trends shaping the future of mobility in India and beyond.
Overall Growth: The automotive sector experienced outstanding sales growth in August 2023, with positive trends expected to continue into the upcoming festive season.
Read Also : Electric Two-Wheeler Sales in August 2023 | Full Analysis
-Piaggio, Greaves Electric, Classic Legends, and Okinawa Autotech witnessed declines in sales compared to August 2022.
-Several other electric two-wheeler manufacturers saw retail sales fall significantly compared to the previous year.
Automaker | Two-Wheeler Sales (Units) | YoY Growth (%) | MoM Growth (%) | Market Share (%) |
---|---|---|---|---|
Hero MotoCorp | 348,026 | +0.93 | -3.61 | 27.74 |
Honda | 310,091 | +0.59 | -14.17 | N/A |
TVS Motor | 224,907 | +15.61 | +1.10 | 17.93 |
Bajaj Auto Limited | 148,129 | +22.07 | +20.71 | 11.81 |
Suzuki | 69,119 | +21.03 | +7.18 | 5.51 |
Royal Enfield | 58,484 | +11.53 | -11.21 | N/A |
India Yamaha Motors | 49,770 | +4.57 | +5.83 | N/A |
Ola Electric | 18,628 | +436.14 | N/A | N/A |
Ather Energy | 7,064 | +31.59 | N/A | N/A |
Piaggio | 2,973 | -15.11 | -14.79 | N/A |
Greaves Electric | 2,923 | -11.53 | -9.48 | N/A |
Classic Legends | 2,314 | -30.44 | -25.14 | N/A |
Okinawa Autotech | 1,998 | -77.21 | -52.27 | N/A |
Please note that the market share values for some automakers are not available in the provided information. Additionally, some automakers experienced significant Year-on-Year (YoY) and Month-on-Month (MoM) growth, while others faced declining sales in August 2023 compared to the same month in the previous year.
These trends suggest a dynamic and evolving market with strong growth in the two-wheeler and electric vehicle segments, while some traditional players faced challenges. The introduction of new models and innovative offerings is likely to continue driving sales in the sector.
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