Export numbers for two-wheeler companies have also seen an improvement
Thanks to the relaxations on pandemic regulations, two-wheeler sales have seen steady growth in the last couple of months. Despite the rising fuel prices, customers have been queuing up at the showrooms, with the year-on-year growth of sales numbers being a testimony to that. This month, Honda witnessed a respectable 29 percent growth in sales compared to last year, with the brand selling almost one lakh units more than in February 2020.
Though TVS’ month-on-month growth took a hit this time, the brand has been registering consistent YoY growth, with almost 56 percent of the contribution coming from scooter sales (from 60,633 units to 95,525 units in February 2021).
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With countries getting back on their feet after the pandemic, the international demand for two-wheelers has witnessed a surge too. Royal Enfield has seen a staggering 94 percent boost in exports in February 2021 compared to the same time last year. Bajaj Auto exported 1,83,629 two-wheelers in February 2021 compared to the 1,63,346 units it did last year.
Hero MotoCorp too had a splendid month, achieving a milestone of selling over 5 lakh two-wheelers. It sold over 62,000 units more than Honda, proving yet again who the champion was when it came to volumes. Last month, the Indian two-wheeler giant announced its plan to set up a dedicated vertical for the Harley-Davidson business in India and has already commenced deliveries of H-D products to the dealers.
We expect the brands to continue putting up a strong show, especially with more offerings scheduled. In fact, TVS launched the Star City Plus with front disc brake and Bajaj followed suit by launching an updated Platina 100.