2-W space reports healthy volume numbers for November 2023
News: Volumes at TVS Motors were at 3.52 lakh units up 34% YoY. Royal Enfield brand at Eicher Motors reported 13.4% YoY growth at 80,251 units, while market leader Hero MotoCorp reported volume growth of 25.6% YoY at 4.9 lakh units. At Bajaj auto volumes were up 33.1% YoY at 3.5 lakh units.
Views: 2-W was the sole shining star with respect to healthy YoY volume growth amidst all vehicle categories for the month of November 2023. This also marks two consecutive months of double-digit YoY growth for the category across all OEMs and is primarily driven by domestic sales supported by rural recovery with exports yet to meaningfully pock up pace. Sustenance of 80k+ figure was encouraging and largely puts to rest over highlighted competition in the premium category space.