2-W SPACE REPORTS HEALTHY VOLUME NUMBERS FOR AUGUST 2023
News: Volumes at TVS Motors were at 3.3 lakh units up 6.3% MoM. Royal Enfield brand at Eicher Motors reported 6.1% MoM growth at 77,583 units, while market leader Hero MotoCorp reported volume growth of 24.9% MoM at 4.9 lakh units. Bajaj auto volumes grew 6% MoM at 2.9 lakh units.
Views: Companies witnessed healthy volume recovery in the domestic markets while exports continue to remain a drag. With series of new launches by the OEM’s especially in the premiumisation category we expect 2-W segment to report healthy volume prints going forward. For the month market leader Hero MotoCorp widely outperformed its peers. In an recent update, Royal Enfield brand at Eicher Motors has launched 2023 Bullet 350 on its new J-series platform starting at ₹1.74 lakh/unit (ex-showroom).
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