Aug 2023 sees strong two-wheeler sales despite delayed festive season

The performance of the domestic two-wheelers (2W) segment remained strong in August 2023, with Eicher Motors, TVS and HMCL (Hero Motors) reporting 10 per cent, 7 per cent and 5 per cent year-on-year growth, respectively. This came despite a delayed festival season (by around three weeks), according to an Emkay Research report.

However, exports remained weak with an about 2 per cent dip in volumes quarter-on-quarter for both the large volume players, Bajaj Auto (BJAUT) and TVS Ltd (TVSL).

Growth in 2W wholesales was supported by improving retail trends (as per the government's vehicles registration platform Vahan) ahead of the festival season, with strong growth in Bajaj Auto (22 per cent) and TVS (16 per cent). Hero Motors reported strong dispatches of 489,000 units, ahead of the likely uptick in festival sales, says the report.

Read the Emkay Research report here.