Two Wheeler, Electric 2W Retail Sales Jan 2023 – Hero, Bajaj, TVS, Ola, Okinawa, Ampere

Two wheeler retail sales improved by 10.07 percent YoY and is set to accelerate further thanks to several favourable announcements in the recent Union Budget

In the earlier post, we discussed two wheeler wholesales. In this post, we will take a look at the Two wheeler retail sales in Jan 2023, shared by FADA. Two wheeler retail sales improved 10.07 percent to 12,65,069 units in Jan 2023, up from 11,49,351 units sold in Jan 2022. Various policies such as added income tax rebate, revised budget allocation in terms of vehicle scrappage policy and exemption of income tax duties on manufacturing lithium batteries could boost sales in this segment in the months ahead.

Hero MotoCorp topped the sales charts in Jan 2023. Retail sales stood at 3,70,690 units up from 3,56,117 units sold in Jan 2022. The new Xoom scooter 110 cc is set to boost sales in the coming month. This scooter has been introduced in three variants – LX, VX and ZX priced at Rs 68,599, Rs 71,799 and Rs 76,699 respectively.

Two Wheeler Sales Jan 2023

At No. 2 was Honda with sales of 3,18,184 units in Jan 2023, up from 2,58,128 units sold in Jan 2022. Market share improved to 25.15 percent from 22.46 percent YoY. Honda seeks to enter the electric two wheeler segment with new electric scooters and motorcycles. First Honda electric scooter is likely to launch in India next year.

TVS Motor sales improved to 2,08,164 units YoY in Jan 2023 from 1,80,543 units sold in Jan 2022. Market share also went up to 16.45 percent from 15.71 percent. It was the TVS iQube that has been bringing in good sales growing steadily each quarter in the past calendar year and reached a record high of 59,000 units in 2022.

Bajaj Auto sales dipped YoY to 1,38,002 units from 1,40,469 units sold in Jan 2022 while Royal Enfield sales were higher at 64,233 units in Jan 2023 as against 47,928 units sold in Jan 2022. Suzuki and Yamaha posted YoY growth at 59,554 units and 47,296 units respectively. These two wheeler makers had seen sales of 44,542 units and 42,447 units in Jan 2022.

Electric 2W Retail Sales Jan 2023

Significant growth was seen in the case of electric two wheelers. Ola sales increased to 18,245 units in Jan 2023 from 1,106 units sold in Jan 2022. It was followed by Ather Energy with 9,139 units sold last month, up from 1,881 units sold in Jan 2022. Ather has also just commenced deliveries of the 450X which claims to be the first ever scooter with on board Google Maps.

Hero Electric sales went down to 6,393 units in Jan 2023 from 7,764 units sold in Jan 2022 as did Okinawa which had sales dip to 4,404 units in the past month from 5,615 units sold in Jan 2022. On the other hand, Ampere saw its sales increase to 4,366 units in Jan 2023 from 4,220 units sold in Jan 2022.

Classic Legends (Jawa / Yezdi) noted higher sales last month to 3,572 units from 2,371 units sold in Jan 2022. Piaggio was another two wheeler OEM to post YoY degrowth to 3,078 units in Jan 2023 from 4,766 unit retail sales in Jan 2022. Okaya EV had sales of 1,265 units in the past month while there were other OEMs which also included electric vehicle two wheeler makers who added 8,484 units to this list in Jan 2023, down from 51,454 units sold in Jan 2022.