New Delhi. India’s two-wheeler industry is once again gaining momentum. At least this is what the figures for the month of October say. The recent decisions of the government and the festive season have acted as fuel for this sector. Two-wheeler companies like Honda Motorcycle and Scooter India, TVS Motor Company, Bajaj Auto, Royal Enfield have reported strong growth in their sales and business. This means that the inclination of customers towards the two-wheeler industry has started increasing once again.
Data from the companies shows that in October, Hero sold 6,04,829 bikes, Honda sold 5,98,952, TVS sold 4,21,631, Bajaj sold 2,66,470, Royal Enfield sold 1,16,844 and Suzuki sold 1,03,454 bikes. If compared to last year, there is a jump of 8.3 percent in Honda, 8 percent in TVS, 4.1 percent in Bajaj and 14.7 percent in Royal Enfield. Only Hero has seen a decline of 8 percent and Suzuki has seen a decline of 1.4 percent.
Tremendous sales in the festive season
Hero says that due to the cut in GST and the festive season, the retail sales figure in October was around 10 lakh. It is a matter of happiness that this is the second consecutive month that wholesale sales have been more than 6 lakhs. The company says that there is an increase in both customer confidence and money saving, due to which there is a possibility of further growth in the two-wheeler auto sector in the coming days. Demand will increase especially in rural areas because the monsoon has been very good.
Hero sold the most bikes
Hero, which makes bikes like Splendor, registered 9,94,690 motorcycles in October and the company’s e-vehicle section Vida has also registered a growth of 117 percent on an annual basis. In October, Vida sold more than 16 thousand e-bikes, which is a growth of 24 percent on a monthly basis. Hero says that due to the reduction in GST the interest of customers has increased rapidly. Due to high savings on bikes, consumer sentiment has become positive. On the other hand, Honda is also celebrating the sale of its Activa Scooty crossing 3.5 crores.
TVS has made a record
TVS retail sales have made a record in October. The company said that motorcycle sales have increased by 16 percent on an annual basis, while scooter retail sales have registered a jump of 7 percent. Not only this, there is also an increase of 11 percent in the sales of electric bikes on annual basis. Bajaj has also achieved growth of 4.1 percent on annual basis. Retail sales of Royal Enfield also reached 2.49 lakh in October, which is a strong growth of 26 percent. Suzuki’s wholesale sales may have fallen, but retail sales increased to 1,40,679 units in October.
