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The Two-Wheeler Industry in India recorded domestic volumes of 1,51,19,387 units in FY2021, which was a decline of about 13.19 percent from 1,74,16,432 units in FY2020. The Industry had shrunk drastically in H1 due to Covid and recovered strongly in H2 FY2021.
However, the second wave of Covid-19 infection across the country is a concern and is going to affect both production and demand. The ever-increasing vehicle prices can add to the woes of the segment as well.
OEM wise Two-Wheeler Sales Volume for FY2021 -
The World’s Number 1 two-wheeler manufacturer, Hero MotoCorp sold 55,99,859 units in FY2021. This is a fall of 10 percent over FY 2020 when they sold 62,31,458 units. The two-wheeler maker was able to increase its Market Share to 37.04 percent in FY2021. Bikes like Splendor, HF Deluxe, Passion, and scooters including Pleasure and Hero Destini emerged to be the best sellers for the two-wheeler OEM.
Honda Motorcycle & Scooter India sold 38,67,817 units in FY2021, down 61 percent on year-on-year basis as FY2020 sales was 47,06,589 units. Honda lost the highest Market Share in FY2021 and ended up at 25.58 percent against 27.02 percent in FY2020. FY2021 was a big year for HMSI as it did two global unveilings - H’ness CB 350 and CB350 RS). The Indian debut of CB500X & CB 650R also happened in the previous fiscal.
TVS Motor Company's domestic two-wheeler volumes slumped by 10.1 percent in FY2021 at 21,64,228 units compared to 24,10,550 units in FY2020. TVS volumes were led by XL, Apache, Ntorq, Jupiter, Star City.
Bajaj Auto’s domestic volumes was down 12.9 percent to 18,09,375 units compared to 20,78,348 units sold in FY2020. The Pulsar range continued to be the best seller for Bajaj Auto. It was also able to maintain its Market Share.
Royal Enfield sold 5,73,438 motorcycles in FY2021 and was down 12.7 percent from 6,56,651 units sold in FY2020. Royal Enfield impressed with its volumes with the 650 twins and also launched the highly anticipated Meteor in FY2021. Even facing new launches in the segment (H’ness CB350) and Jawa onslaught; RE was able to sustain its Market Share in FY2021.
Triumph was the only Two-Wheeler manufacturer to register a YoY growth in FY2021. The OEM volumes increased to 725 units in FY2021, from 591 units in FY2020. Seems like Harley's exit created the void and pulled its customers to the Triumph brand.
Market Share Analysis -
Hero with its strong performance gained a 1.26 percent market share in FY2021 over FY2020. The market leader has built on its strength (motorcycles) and got ahead of the rest.
The highest market share drop came from Honda, which was about 1.44 percent. Challenging year for an OEM who has a strong dependency on Activa as a model and the scooters segment registering a higher decline.