Auto Sales Data May 2023 – Healthy domestic sales for two wheelers and cars

Sales of two-wheelers witnessed a remarkable rise, with all the major players improving their year-over-year (YoY) sales. Bajaj Auto stood out this month by doubling its sales on a YoY basis. Furthermore, the increasing monthly sales of electric two-wheelers indicate the growing market share of EVs in the overall automotive industry.

Two Wheelers – Domestics sales grew while exports declined in May 2023

Hero MotoCorp’s dispatches to dealerships rose by 7% to 5.19 lakh units in May 2023. Motorcycle sales grew by 8% YoY to 4.89 lakh units, while scooter sales fell by 12.5% YoY to 30,138 units. Domestic sales rose by 9% to 5.08 lakh units, but exports declined by 45% to 11,165 units.

Eicher Motors’ total motorcycle sales rose by 22% to 77,461 units in May. Sales of models with engine capacity up to 350cc grew by 28% YoY to 69,038 units, whereas sales of models with engine capacity beyond 350cc fell by 14% to 8,423 units. Exports also fell by 34% to 6,666 units.

TVS Motor Company Ltd.’s total two-wheeler sales rose by 11% to 3.19 lakh units in May. The company sold nearly 18,000 units of its electric scooter, iQube, in the month, compared to 2,637 units sold last year. It currently has 30,000 pending orders for the model. However, two-wheeler exports fell by 30% to 66,605 units.

Bajaj Auto Ltd.’s two-wheeler dispatches doubled year-on-year to 1.95 lakh units in May, aided by a low base from last year when chip shortages affected production and sales. Overall sales, including commercial vehicles, rose by 17% to 3.55 lakh units. Total two-wheeler sales rose by 23% to 3.08 lakh units, while total exports fell by 23% to 1.27 lakh units.

Electric Two wheelers’ sales continue to grow with every passing month

There is a growing preference for electric two-wheelers, and sales in May demonstrate a consistent rise for major two-wheeler EV manufacturers. While many are striving to gain market share, Ola, TVS Motors, and Ather have taken the lead so far. Hero MotoCorp has recently launched its electric scooter, Vida, and is promoting it through an aggressive marketing campaign.

The shift from IC engine vehicles to EVs is underway in India, with the country aiming for EVs to account for 30% of its mobility requirements by 2030. This momentum in the domestic industry is being driven by the FAME scheme, state subsidies, and an expanding portfolio of products across vehicle sub-segments. The increasing consumer awareness regarding the importance of using eco-friendly transportation and the cost-effective nature of EV ownership in the long run are facilitating the rise of electric mobility as a viable option.

Maruti maintains leadership with a 15% YoY growth in sales 

Maruti Suzuki India Ltd.’s dispatches to dealerships rose by 10% YoY to 1.78 lakh units, as higher sales of SUVs offset the weakness in the hatchback segment. Domestic sales also increased by 13% to 1.52 lakh units. However, exports experienced a decline of 2.6% to 26,477 units. Sales in the mini and compact segment fell by 2% to 83,655 units.

Tata Motors registered domestic sales of 45,878 units in May 2023. PV sales grew by 6%, and total EV sales grew by 66% in May 2023. The company has geared up for multiple launches in the latter half of 2023 and 2024. These launches include facelift models of the Nexon sub-4m SUV, along with the Harrier and Safari SUVs at the flagship level. Tata is also preparing the Curvv compact SUV, but its debut is expected to be later rather than sooner. Additionally, models like the Punch are likely to receive a CNG variant.

Mahindra managed to sell 32,883 SUVs last month, recording a 23% YoY growth. The Scorpio-N, Bolero, and the XUV700 range lead the sales tally for the UV maker.