- Hero MotoCorp led the market with a 32.07 per cent share
- Honda Motorcycle and Scooter India took the second spot
- TVS Motor Company stood third on this list
The Federation of Automobile Dealers Associations (FADA) has released the total sales data for two-wheeler brands in the Indian market for the recently concluded Financial Year 2022-23 (FY2023).
Hero MotoCorp
As per the data released by the apex national body of the Automotive Retail Industry in India, Hero MotoCorp continued to dominate the market with a total of 32.07 per cent share. Notably, the Indian two-wheeler maker had a 34.35 per cent market share in the previous financial year. Hero MotoCorp sold 51,30,611 units in FY2023 as against 46,35,480 units in FY2022. Several new models and variants were introduced by the company in the Indian market in FY2023. The list includes the Xtec variants of existing products, the Xpulse 200 4V range, the new Xoom, and the Vida V1 electric scooter. Further, as reported exclusively by Bikewale, Hero MotoCorp is planning to introduce premium motorcycles in the Indian market. The list of upcoming products includes a higher-displacement version of the Xpulse range and the new Karizma 210.
Honda Motorcycle and Scooter India
The second spot on this list was occupied by Honda Motorcycle and Scooter India with a market share of 24.33 per cent in FY2023. In comparison, the Indian arm of the Japanese manufacturer had a market share of 22.04 per cent in FY2022. It sold 38,92,340 units during FY2023 as against 29,73,481 units in FY2022. The company now aims to grab a share of the Hero Splendor-dominated segment of the Indian market with its newly launched motorcycle, the Shine 100. Further, similar to Hero MotoCorp, Honda Motorcycle and Scooter India, too, is planning to enter the electric vehicle segment with new products that are expected to arrive in the current financial year.
TVS Motor Company
TVS Motor Company secured the third position on the list of the top five highest-selling two-wheeler makers in India in FY2023. The Hosur-based manufacturer managed to increase its market share from 14.79 per cent in FY2022 to 15.53 per cent in FY2023. The company sold 24,84,863 units in the recently concluded financial year as against 19,96,405 units in the corresponding period last year. Apart from introducing new variants of its existing products, TVS Motor Company also announced the launch of the new Ronin 225cc premium motorcycle and iQube electric scooter in the Indian market. The company now plans to introduce the BMW G 310 R-based naked roadster on our shores. This upcoming motorcycle, as reported exclusively by Bikewale, will be called the Apache RTR 310.
Bajaj Auto
Pune-based Bajaj Auto finished fourth on this list with a total market share of 10.62 per cent in FY2023. Notably, the market share for the company has dropped from 12.23 per cent in FY2022. Bajaj Auto sold a total of 16,98,789 units in the recently concluded financial year as against the 16,49,968 units sold in FY2022. These numbers include the sales of the Chetak electric scooter. Similar to its competition, Bajaj Auto introduced new variants of its existing products during FY2023. Further, the company has revived the Pulsar 220F ahead of the imminent launch of the Karizma 210 in the Indian market. In other updates, Bajaj Auto rolled out the one millionth KTM motorcycle from its factory in India during FY2023. In this financial year, Bajaj Auto, along with Triumph Motorcycles, will introduce co-developed products in the Indian market.
Royal Enfield
During the previous financial year, Royal Enfield increased its market share from 3.51 per cent in FY2022 to 4.35 per cent in FY2023. The sales for the Chennai-based manufacturer increased from 4,73,970 units in FY2022 to 6,96,233 in the recently concluded financial year. Royal Enfield has been aggressively expanding its portfolio with the launch of new models. The company announced the launch of the Hunter 350, which quickly became the second highest-selling product for the brand in the Indian market. Further, Royal Enfield also launched the Super Meteor 650 in India, and it now plans to introdue the Himalayan 450 in the current financial year. The manufacturer also has a long list of products that will join its portfolio in the near future.
