FY2021 two-wheeler sales still under the weather

India Auto Inc. holds a faint hope of growth in sales, thanks to the motorcycle and car segments. From March 2020 to 2021, the sales that the OEMs of the top four motorcycle companies announced revealed a recovery of the sales in the second half of the year. The rising number of COVID-19 cases is further creating a fear of a halt in production due shortage of supply-chain and high fuel prices.

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Hero MotoCorp recorded a 72% increase in sales in March 2020. Motorcycle makers recorded 19% growth in comparison to February 2021. Splendor and Hero HF were two best-selling bikes in January. 

Hero also 82% record sales in March. However, comparing overall performance, Hero MotoCorp has sold 57, 91,539 motorcycles in 2021, which can be up to Rs 2500.

Honda Motorcycle & Scooter India sold 395,037 units in March 2021 which is 61% more than the last year. And the month on month sales still went down. They have imported 16000 units in February, 2021 and are expanding their premium segments.

TVS Motor Co. exports increased 164% in March; Bajaj Auto exports also increased 32% in comparison to March, 2020.

Written By: PolicyBazaar - Updated: 21 July 2021
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

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