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Two-Wheeler Sales Report - November 2023 Surge in India

By
Robin Kumar Attri
Robin Kumar Attri
|Updated on:04-Dec-2023 10:13 AM

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ByRobin Kumar Attri

Updated on:04-Dec-2023 10:13 AM

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In November, India's two-wheeler market thrived with festival and rural demand. Bajaj Auto's remarkable growth highlights the positive trend, signaling opportunities for sustained growth.

Two-Wheeler Sales Report - November 2023 Surge in India

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In November, the Indian two-wheeler market witnessed a significant surge in sales, outperforming the four-wheeler segment. This upswing can be attributed to the festive season, which stimulated rural demand. The data indicates a positive trend for the remaining financial year, with hope fueled by upcoming weddings and smaller festivals. The premium portfolio is showing a robust performance, accompanied by a notable rise in rural areas, contributing significantly to the growth of the industry.

Table for the sales of Two-Wheeler in November 2023

ManufacturerTotal Sales (Units) This year month of NovemberY/Y Growth (%)
Bajaj Auto34904833%
TVS Motors36423131%
Mahindra70,57621%
Suzuki 164,4393.4%
Royal Enfield80,25113%

Key Highlights:

  1. Rural Demand Boost:

    • The festive season led to a remarkable pickup in the rural demand, contributing to a rise in the sales of the two-wheelers.

    • Rural India forms 55% of total two-wheeler sales, remaining as a vital market for the industry.

  2. Bajaj Auto's Strong Performance:

    • Bajaj Auto witnessed a substantial increase in the domestic motorcycle volumes, reporting a remarkable 76% growth in November compared to the previous year.
  3. Ola Electric's Record-Breaking Registrations:

    • Ola Electric, specialising in e-scooters, experienced a phenomenal 82% rise in registrations, reaching a record of 30,000 units.

    • Challenges in the service network to keep the pace with escalating sales were reported, indicating the need for the scaling of the infrastructure.

  4. Positive Outlook for Premium Collection:

    • The premium collection within the two-wheeler sector is performing well, contributing to the overall growth of the industry.
  5. Impact of Upcoming Wedding Season:

    • Analysts anticipate a further growth in the sales of the two-wheelers due to the upcoming wedding season, as consumers traditionally make significant purchases during such periods.

Challenges and Considerations:

  1. Service Network Challenges for Ola Electric:

    • Ola Electric, while experiencing remarkable growth, also faces challenges in its service network, necessitating the attention for meeting the rising demands.
  2. Flat Growth in Passenger Vehicles (PVs):

    • Monthly sales of passenger vehicles have largely remained flat in November, with Maruti Suzuki experiencing a modest 3.4% growth.

    • Mahindra and Mahindra emerged as an exception with an impressive rise of 21% in the overall auto sales.

  3. Caution in the Passenger Vehicle Sector:

    • Analysts have turned cautious on the passenger vehicle sector, emphasizing the need for strategic planning during the current market dynamics.

Conclusion:

The robust performance of the two-wheeler segment in November 2023, driven by the festive demand and rural rise, indicates a positive trajectory for the industry. With the wedding season ahead, the momentum is expected to continue, offering opportunities for sustained growth. However, addressing challenges in the service network and monitoring market dynamics will also be crucial for the stakeholders in the coming months.


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