A structural delay facing the world’s largest two-wheeler market has modified equations within the section, with Bajaj automobile rising as the largest bike maker in the month of November, zipping past market leader Hero MotoCorp.
The Pune-based two- and three-wheeler major sold a complete of 337,962 units in the month of November within the domestic and export market, against the 329,185 units sold by Hero MotoCorp, reveals the monthly sales information free by the businesses on Wednesday.
Hero MotoCorp continues to take a clear lead within the domestic market, it’s the prime time the Rajiv Bajaj-led manufacturer has managed to secure position in terms of total bike sales. Its arch-rival Hero sold 308,654 motorcycles within the domestic market in the month of November, compared to Bajaj Auto’s 144,953 units.
The only alternative time Bajaj sold additional motorcycles than Hero MotoCorp was throughout the Covid-19-induced national internment in the month of April and in 2020 that had halted production and sales within the domestic market, however exports continuing in tiny measures.
During the month, the country’s largest bike exporter shipped fifty seven per cent of its total output to markets outside Asian country, serving it offset the twenty three per cent decline within the domestic bike market.
On the opposite hand, an overdependence on the domestic market reeling from a multi-year delay led to a sales collapse at Hero MotoCorp in the month of November.
Two-wheeler consumers in Asian country are shying aloof from getting scooters and motorcycles amid rising fuel costs, increasing costs and possession prices.
Motorcycle and scooter sales at Hero MotoCorp fell 39.2 per cent to 349,393 units in the month of November, against 575,957 units within the same month a year ago.
A weak competition season has led to a warehousing at the company’s sales channels, forcing the corporate to curtail despatches throughout the month.
Automotive firms in Asian country count despatches to dealers as sales. On average, Hero has unsold stock of 45-60 days at its channels, in line with dealer estimates.
Most of the opposite two-wheeler manufacturers, together with TVS Motor, Honda bike & Scooter India (HMSI), and Royal Enfield, among others, conjointly saw sales skid throughout the month within the domestic market, at the same time as exports helped them cushion the autumn somewhat.
Domestic two-wheeler sales at TVS fell twenty nine per cent year-on-year to a 175,940 units. Domestic sales at HMSI — that attracts getting ready to sixty five per cent of its sales from scooters — conjointly born thirty eight per cent to 256,170 units, against 412,642 units.
A weak offtake in rural sales has conjointly superimposed to the woes of firms. Sluggish rural sales are attributed to depressed farm sentiments caused by uneven monsoons and delayed harvest across regions.
In urban markets, a delay in the reopening of schools and colleges, weak financial gain sentiments due to job losses or pay cuts (in the aftermath of the pandemic), and extended work-from-home policies by corporates are deliberation on sales.