Tractor sales also increased with largest tractor seller Mahindra & Mahindra selling 18 per cent more farm equipment indicating that a good monsoon was driving the rural economy
Domestic two-wheeler sales dropped marginally to 241,762 units in September 2020
Among the two wheelers, motorcycles in the 150cc to 200cc segment have been the outliers
During January-August this year, YMIS sold 2,88,942 units of two-wheelers compared to 4,54,617 units in the year-ago period, a decline of 36.44 per cent
Chatterjee informed that two new companies - MG Motor (with its Hector model) and KIA Motors (with its Seltos) started this year with 100 per cent use of Exide batteries
Moped sales have turned around since June on the back of good monsoon and positive sentiment in the rural market
Hero MotoCorp, TVS Motor increase market share in a dwindling market while Bajaj and Honda slip
Semi-urban centres drive demand for Hero
The company's total exports stood at 68,347 units this August, as against 69,702 units a year ago
ICRA had earlier said that two-wheeler sales could decline by 11-13 per cent in the current fiscal
The company had sold a total of 69,236 units in the same month last year
The year-on-year decline also narrowed to 4.4% in July from the high double-digit decline in the previous month
Move aimed at sharpening product amid high demand for cheaper bikes
Honda Motorcycle & Scooter India (HMSI) on Friday said it has crossed 11 lakh cumulative sales mark in the domestic market for BS-VI compliant two-wheelers. The company said it had ended 2019-20 fiscal with sales of over 6.5 lakh units of BS-VI compliant two-wheelers. It's a matter of great pride for us at Honda, that our 11 advanced BS-VI models have won the vote of confidence and created a new joy of riding among customers across India," HMSI Director - Sales and Marketing Yadvinder Singh Guleria said in a statement. The company's product portfolio stands out as the industry's most diverse starting from 110cc scooters and motorcycles going up to 1,100cc premium adventure bikes, he added. "As many customers are now preferring personal mobility for safety and hygiene in the challenging times of new normal, Honda is unlocking new value with its many initiatives like online bookings, and attractive retail finance schemes," Guleria said.
The company has presence in the two wheeler segment through Royal Enfield, which sells niche bikes across domestic and international markets
Motorcycle sales were at 7,02,970 units as against 10,84,596 units in June 2019, down 35.19 per cent
Stock more vulnerable than peers, given weak margins, volumes
Maruti Suzuki India, the country's largest carmaker, on Wednesday reported a 53.8 per cent year-on-year decline in domestic passenger vehicle sales to 51,274 units in June due to Covid-19 crisis
At the end of May, out of 26,500 outlets about 60 per cent showrooms and 80 per cent workshops were operational across the country
The company remains optimistic on the long-term growth prospects of the domestic two-wheeler industry