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India's 2 wheeler and 4 wheeler sales in June 23 and what these sales indicate

 The total sales of two-wheelers in India in June 2023 was 14,36,245 units, a decline of 7.54% from May 2023 and 103,576 units from June 2022.

The top five two-wheeler manufacturers in India in June 2023 were:

  • Hero MotoCorp (5,47,912 units)
  • Honda Motorcycle and Scooter India (3,24,093 units)
  • TVS Motor Company (3,02,077 units)
  • Bajaj Auto (2,41,112 units)
  • Royal Enfield (32,202 units)

The electric two-wheeler segment also saw a decline in sales in June 2023, with 45,734 units sold, a decrease of 56.58% from May 2023.

The decline in two-wheeler sales in June 2023 was attributed to a number of factors, including:

  • Rising fuel prices
  • High interest rates
  • Economic slowdown
  • Reduction in FAME subsidy for electric two-wheelers

Despite the decline, the two-wheeler industry in India is still expected to grow in the coming years. The rising population, increasing urbanization, and growing disposable incomes are all expected to boost demand for two-wheelers in India

The total export of two-wheelers from India in June 2023 was 2,41,112 units, a decline of 31.62% from June 2022.

The top five two-wheeler exporters from India in June 2023 were:

  • Bajaj Auto (1,27,357 units)
  • Hero MotoCorp (14,236 units)
  • Royal Enfield (9,614 units)
  • TVS Motor Company (8,354 units)
  • Suzuki Motorcycle India (6,641 units)

The decline in two-wheeler exports from India in June 2023 was attributed to a number of factors, including:

  • The ongoing Russia-Ukraine war, which has disrupted global supply chains
  • Rising fuel prices in the global market
  • Economic slowdown in some key export markets

Despite the decline, the two-wheeler export industry in India is still expected to grow in the coming years as EV 2 wheeler sales is picking up pace. The rising demand for two-wheelers in the global market, coupled with the increasing focus of Indian manufacturers on exports, are expected to boost two-wheeler exports from India will continue to grow.

The total car sales in India, including exports, in June 2023 was 3,28,909 units, a decline of 1.97% from May 2023 ,but an increase of 2.51% from June 2022.

The top five car manufacturers in India in terms of total sales (domestic + exports) in June 2023 were:

  • Maruti Suzuki (1,33,207 units)
  • Hyundai Motor India (50,001 units)
  • Tata Motors (47,235 units)
  • Mahindra & Mahindra (32,588 units)
  • Toyota India (19,608 units)

The decline in car sales in India, including exports, in June 2023 was attributed to a number of factors, including:

  • Rising fuel prices
  • High interest rates
  • Economic slowdown
  • Supply chain disruptions

Despite the decline, the car industry in India is still expected to grow in the coming years. The rising population, increasing urbanization, and growing disposable incomes are all expected to boost demand for cars in India in the coming years.Maybe the sales increase may come more and more from EV cars.

The development of EV ecosystem with Ola Electric, Ather Energy ,TVS,Bajaj,Hero etc. in 2 wheelers and Tata Motors,Mahindra & Mahindra ,MG etc. Cars will pave the way for EV sales to grow at a faster clip.

Muted growth in 2 wheeler and Car sales in the first quarter of FY 23-24 does not augur well for the Automobile industry unless the festival season that will start in Sep 23 should provide the momentum for the rest of the fiscal year.Fuel prices will also play a greater role in this which will determine the disposable income in the hands of the people and also the interest rate trajectory for Auto loans due to its impact on inflation.


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