The two-wheeler industry reported a decline in domestic sales on yearly basis in March but most of the companies have done well in exports including market leader Hero MotoCorp.
Hero MotoCorp recorded an export growth of 57 per cent year-on-year (YoY) in FY2022 at 3,00,624 units against 1,91,609 units in FY2021.
HMSI exports up, sales drop
Honda Motorcycle & Scooter India (HMSI) recorded a growth of 60 per cent in exports in FY’22 at 3,30,852 units as compared with 2,07,310 in FY2020-21.
However, in monthly sales, it recorded a decline of 22 per cent YoY at 3,09,549 units of two-wheelers in March against 3,95,037 units in corresponding month last year.
The company reported a decline of 27 per cent in exports YoY to 11,794 units in March 2022 as compared with 16,000 units of exports in March 2021.
For the fiscal year (FY) ended March, the company had a total sales of 37,99,680 two-wheelers, a decline of two per cent as compared with 38,65,872 units in FY2021.
“FY2021-22 was a special year as we celebrated five-crore customers’ iconic landmark. Despite signs of moderation, the year continued to impact business momentum due to varied challenges arising from both demand and supply side. However, bringing the synergies of new products along with new fun models’ business expansion has helped us catalyse consumer sentiment in both RedWing and BigWing businesses,” Yadvinder Singh Guleria, Director, Sales and Marketing, HMSI said.
Royal Enfield exports up 56 pc in March
Similarly, Royal Enfield recorded an export growth of 56 per cent YoY in March at 9,200 units (5,885 units). For the full year also, the company recorded an export growth of 110 per cent to 81,032 units as compared with 38,622 units in FY2021 .
However, its domestic sales declined by nine per cent for the full year to 5,21,236 units as compared with 5,73,728 in FY2021. Monthly wise, the sales declined by three per cent at 58,477 units in March against 60,173 units.
"As a challenging FY2022 comes to a close, Royal Enfield is confident of riding through short term challenges and continues to remain committed towards its vision of becoming the first premium global consumer brand from India," the company said in a statement.
The company added that it has a strong product line up in store and firm strategic plans to meet its long-term objectives.