In the first two parts of our January sales analysis, IAR looked at Passenger Vehicle dispatches and Commercial Vehicle sales. In this third and concluding part of sales analysis, we look at the two-wheeler spectrum and how each segment performed.
It wasn’t a great month for two-wheelers as dispatches were below expectations and the biggest segment recorded negative growth. However, things did not change much for the Scooters segment. By the time January ended, dispatches in the Scooters segment had grown by 25.3% over previous year. The growth rate that the segment enjoyed in 2014 has been maintained in 2015, even though the base is now much bigger.
As usual, segment leader Honda had a strong growth, dispatching 29.2% higher number of units in the month as compared to previous year. The faster than the segment growth means that HMSI has once again nibbled at some more market share of rivals.
Rival Hero Motor improved its dispatches by less than 19% over previous year. This was an impressive growth but not in the same league as Honda.
TVS grew even slower – the South India based manufacturer could improve its dispatches by only 10.5% over previous year. In comparison, Mahindra’s growth of 128% was very impressive but came off a very small base.
Losing marketshare was Piaggio which saw a 16% improvement in dispatches. Ditto was the case with Yamaha as its dispatches improved by 22.9%, slower than the segment average.
Losing marketshare and sales volumes both was Suzuki, which saw dispatch volumes decline by 1.4%, marking a bad month forth manufacturer.
SUB 125 CC
The Motorcycles segment displayed quite contrasting behaviour. The segment is huge and growth has been a struggle for sometime. In January 2015, the sub-125cc segment saw a fall of 10.6% from previous year. Apart from Yamaha (up 23%) and TVS (up 10.5%), every other manufacturer saw a decline in dispatches. Bajaj Auto (down 48.2%) and Suzuki (down 48%) experienced the biggest falls in dispatch numbers.
Segment leader Hero MotoCorp reported a 2.25% drop in dispatches, a slower fall than the market helping the company to gain some market share.
125CC – 250CC
The sporty commuter market did much better than the sub 125cc market. In the 125cc — 250cc segments, dispatches wee 15.5% better than January 2014. The rise was led by Bajaj Auto and TVS Motor – Bajaj improved its volumes by 32.4% while TVS managed 31.5% higher dispatches over previous year. Yamaha also recorded a 34% jump in dispatches. Significantly higher growth was also recorded by Suzuki in the segment but from a very small base.
Both hero and Honda reported declines in dispatches – Hero’s dispatches were down nearly 70% and relegated the company to a marginal position in the segment.
BIG BIKES (>250CC)
The Big Bike segment is witnessing more launches in a month that the mass-market segments manage in a year. The Big Bike segments are growing aggressively and market leader Royal Enfield had another strong month with a 42% growth in dispatches.
Bajaj-KTM also had a strong month with dispatches more than doubling over previous January.
Harley-Davidson improved its dispatch volumes by nearly 65% as the Street 750 continues to do well. Rival Triumph shifted 88 bikes in the month, a 49% improvement on a very small base.