2-W space reports mixed performance in February 2022
News: Market leader Hero MotoCorp reported a volume decline of 5.8% MoM at 3.58 lakh units. Bajaj auto yet to report numbers, while TVS Motors posted 5.3% volume growth MoM at 2.67 lakh units. Royal Enfield brand at Eicher Motors reported flattish month at 59,160 units.
Views:In the 2-W space, volumes are yet to pick up meaningfully and were a mixed bag. One of the prime reasons for muted offtake could be stiff competition in the marketplace from the new age OEMs in the electric 2-W space. Volumes at Royal Enfield also failed up pick up pace and were disappointing despite management optimism over brand recall and customer excitement.
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