2W sales rise in Nov on festive demand

  • | Tuesday | 5th December, 2023

Pune: Two-wheeler sales grew in November, continuing the momentum of the previous month, on account of demand during the festival season. Major companies such as Bajaj Auto, TVS Motor Company and Hero MotoCorp reported strong growth in sales during the month. Overall, the two-wheeler registration witnessed a 21% growth during the month to over 22 lakh two-wheelers, according to Vahan data.Of that, petrol-driven two-wheelers stood at close to 21 lakh units while electric vehicles (EV) were at 91,253 units, indicating a recovery in volumes after the government reduced the subsidy which led to a dip in EV sales earlier during the year.The surge in the two-wheeler segment was mainly driven by the rural market, president of Federation of Automotive Dealers Association (Fada) Manish Raj Singhania said. During the festive season ranging from October 15 to November 25, India registered close to 29 lakh units of two-wheeler sales as per association data. The demand is expected to remain healthy in the coming months on account of favourable economic indicators, Hero MotoCorp said. Motorcycles sales are expected to receive support from the new launches especially in the premium segment. However, the impact of climatic conditions and unseasonal rains on rural demand needs might impact demand, analysts said.We also published the following articles recentlyHonda unveils ambitious $3.4 billion plan for electric two-wheelersHonda, a leading Japanese automaker, plans to invest 500 billion yen ($3.4 billion) in the production of electric motorcycles and mopeds. They aim to introduce 30 new electric models by 2030 and reduce the cost of electric motorcycles by 50 percent. Honda will invest 100 billion yen between 2021 and 2025 for motorcycle electrification, with an additional 400 billion yen allocated for 2026 to 2030. They also raised their global annual sales target to four million units by 2030. The company plans to establish dedicated electric motorcycle production plants by 2027 and introduce online sales for customer convenience. The global electric motorcycle market is expected to witness nearly 19 percent annual growth between 2023 and 2030, valued at $30 billion in 2022.Delhi Polices two-wheeler safety appeal shows biker falling after failed stunt: Overboard?Delhi Police posted a safety appeal for two-wheeler riders on its social media handles, joining the ongoing Moye Moye trend. The video shared alongside shows a motorcycle rider attempting a wheelie, resulting in a lift-off and a fall. The video has garnered over 1 million views on X and 1.2 million views on Instagram. It should be noted that the video is not from India as vehicles are driven on the right-hand side of the road.

If You Like This Story, Support NYOOOZ

NYOOOZ SUPPORTER

NYOOOZ FRIEND

Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.


Stay updated with all the Pune Latest News headlines here. For more exclusive & live news updates from all around India, stay connected with NYOOOZ.

Related Articles