Most of the major bike companies have registered double digit growth numbers which indicates the positive sentiment in the two-wheeler industry.
Two-wheeler sales in the country seem to be at an all time high as most mass market two-wheeler manufacturing companies have registered a double digit growth percentage. However, Hero MotoCorp has registered the lowest growth at 9% despite being at the top of the market having a lion’s share in the industry.
A lot of growth can be credited to rural markets too because sales coming from those areas have increased significantly this year. Hero MotoCorp launched the Splendor iSmart 110 recently and this is the first product to be developed completely at the company’s R&D plant in Jaipur. Honda is also getting very good growth and the popular Activa accounts for 19% of Honda’s total sales.
Bajaj Auto grew by 20% but in terms of sales it is falling slightly behind TVS which has a growth rate of 19%. Bajaj Auto sold 1.98 lakh units while the latter sold 2.06 lakh units. TVS also caters to clients who buy mopeds and hence this accounts for marginally additional sales.
Royal Enfield has witnessed the highest growth at 31% and experts have stated that the company’s success can be attributed to the fact that they have positioned their products properly so as to fill any voids which were there earlier.
July 2016 Bike Sales
– Except Hero MotoCorp, everyone else has seen a double digit growth
– TVS overtakes Bajaj Auto in overall sales numbers
– Royal Enfield witnesses the highest growth