Domestic Two Wheeler Sales Drop by 17% in April

Amid weak demand during the festive and wedding season has led to 17% year-on-year (YoY) drop in two wheeler volumes in April. This is the steepest monthly drop in more than a year despite high discounting schemes run by manufacturers. India’s top six two wheeler brands, which are responsible for 95% of the country’s domestic sales, clocked sales of 1.41 million units during April. Hero MotoCorp saw a 43% drop managing to hit sales volume of 3,05,406 units, while Honda led with 4.2 lakh units.

A report by Yes Securities state that, “Our interactions with leading channel partners indicate wedding season (central and northern markets) and festive volumes (western states) off-take remain below par so far.” The volume weakness, however, is partially offset by slight volume recovery from UP and Bihar, where volumes were under pressure in the past 2-3 months due to Malamas (inauspicious days) and high base, the report added.

Honda beats Hero MotoCorp again to become the largest two wheeler maker in India. The company clocked 4,22,931 units in dispatches to its dealer partners during April, a fall of 12% y-o-y.

Source: The Financial Express