Surprised from Hero Motocorp to Honda, this company left everyone behind
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Top 2-Wheelers : After coming into the electric two-wheeler market, Indian consumers are divided between EVs and petrol-powered vehicles. Customers are now slowly getting inclined towards electric vehicles, but their fascination for petrol vehicles is not waning. There has been a tremendous demand for two-wheelers in the last month. While Hero MotoCorp remained at the number one position, the sales of Honda at the second position declined. At the same time, there was also a company which registered a growth of 300%.
Hero Motorcorp Sales
In May 2023, Hero MotoCorp increased its wholesale sales by seven percent on an annual basis to 5,19,474 units. The wholesale sales of the company were 4,86,704 units in the same period a year ago. However, exports during this period declined to 11,165 units as against 20,238 units a year ago.
Honda Motorcycle Scooter Sales
Total sales of Honda Motorcycle and Scooter India (HMSI) declined by 6.6 percent year-on-year to 3,29,393 units in May 2023. The company’s sales in May 2022 were 3,52,893 units. The company’s exports came down to 18,249 units.
TVS Motor Sales
TVS Motors registered a growth of 32% year-on-year in the domestic market in the month of May and sold a total of 3,30,609 units. The company sold a total of 2,87,058 units in two-wheelers and 17,953 units in electric two-wheelers.
Ola Electric Sales
May was a good month for electric vehicle maker Ola Electric. The company sold more than 35 thousand units in this month. During this time, the company’s share in the electric scooter market stood at 30%. Not only this, the company registered a growth of 300% on an annual basis.
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