Comments
TVS Motor Company has strengthened its Number 2 position in the scooter market, helped by record sales in recent months.
For the first time, TVS Motor clocked monthly scooter sales of more than a lakh units; in fact, it has done it for two straight months (August and September).
Honda, the leader in the Indian scooter market, clocks monthly sales of more than three lakh units. With domestic scooter sales of 1.18 lakh units in September and 1.09 lakh units in August, TVS Motor’s total scooter sales reported 46 per cent growth at 3.17 lakh units in Q2 of this fiscal against 2.17 lakh units in the year-ago period.
During this period, the scooter market grew by 15 per cent at 1.93 million units against 1.68 million last year.
Increase in sales of Jupiter, as TVS launched a new variant Jupiter Classic in August, helped the company in recent months.
Market share gains With robust sales in scooters, TVS Motor’s market share grew to 16.4 per cent in the scooter market in Q2 of this fiscal from 12.9 per cent in Q2 of last year.
Hero MotoCorp, which is now Number 3, saw a decline in market share to 12.1 per cent in Q2 of this fiscal from 12.7 per cent in Q1 and 14.1 per cent in the year-ago period. Hero was the Number 2 player in the scooter segment a year ago. Honda has also seen a decline in its scooter market share though it remains a strong Number 1 player. Its share fell to 58.3 per cent in Q2 of this fiscal from 59.1 per cent in Q1.
The scooter segment continues to outpace the two-wheeler industry growth. Scooters today account for over 30 per cent of the total two-wheeler industry, which has seen a 20 per cent CAGR over the past five years.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.