- By Divanshi Sharma
- Wed, 01 Nov 2023 06:29 PM (IST)
- Source:JND
October Sales Results 2023: Indian two-wheeler companies on Wednesday shared their October Sales Results, recording massive growth in dispatches as the automotive sector extends their transition towards pre-Covid levels. Despite initial challenges and fluctuating market conditions, the sector witnessed a noteworthy uptick in sales figures. Manufacturers like Hero MotoCorp, Bajaj Auto, TVS Motor, and others showcased an encouraging growth trajectory, indicating a rebound in consumer demand. This increase can be attributed to various factors, including festive season sales and strategic product offerings tailored to evolving consumer preferences. Here's how the companies have fared in October 2023:
Hero MotoCorp
Hero MotoCorp has reported a 26.5 per cent increase in total sales at 5,74,930 units in October 2023, as compared to 4,54,582 units in the same month last year. Motorcycle sales were at 5,29,341 units last month, as compared to 4,19,568 units in October 2022, up 26.2 per cent. Scooter sales stood at 45,589 units in October this year, as compared to 35,014 units in the year-ago month, a growth of 30.2 per cent.
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Exports of two-wheelers grew 29 per cent last month at 15,164 units, as against 11,757 units in the year-ago period. The company said it commenced the deliveries of its first co-developed premium motorcycle, the Harley-Davidson X440, at the Navratri festival. Under a mega deliveries drive, 1,000 units were sold across 100 dealerships in India.
Bajaj Auto
Bajaj Auto's total sales increased by 19 per cent year-on-year to 4,71,188 units in October this year. The company had dispatched a total of 3,95,238 units in October 2022. Its total dispatches to dealers last month rose by 36 per cent to 3,29,618 units compared to 2,42,917 units in the same month last year. The company said it was its highest-ever monthly wholesales to date. Its total exports, however, declined by 7 per cent year-on-year to 1,41,570 units in October against 1,52,321 units a year ago.
TVS Motor Company
TVS Motor Company reported a 21 per cent increase in total dispatches to 4,34,714 units in October 2023, its highest-ever monthly sales. Two-wheeler sales were at 4,20,610 units in October as against 3,44,630 units in the year-ago period, up 22 per cent. Domestic two-wheeler sales grew 25 per cent to 344,957 units in October 2023 as against 2,75,934 units a year ago.
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Motorcycles posted a growth of 23 per cent at 2,01,965 units last month, up from 1,64,568 units in October 2022, while scooters clocked 1,65,135 units as against 1,35,190 units, an increase of 22 per cent. TVS Motor Co said it sold 20,153 units of iQube electric scooter in October 2023 as against sales of 8,103 units in the same month last year. Total exports registered a growth of 6 per cent at 87,952 units in October as compared to 82,816 units a year ago.
(With PTI Inputs)
