Finance
By: Shree1news, 05 DEC 2021
Bajaj Auto in November became the top-selling motorcycle brand in India, combining both domestic and export numbers. The Pune-based motorcycle major registered 338,473 units last month, 12 per cent down from its own sales performance in November 2020, when it sold 384,993 units. Hero MotoCorp, the longstanding pole position holder in the Indian two-wheeler market has sold 329,185 units of motorcycles last month, combining both domestic and export numbers.
Hero MotoCorp posted a 39 per cent slump in overall motorcycle sales in November 2021, as compared to the same month last year, when it recorded 541,437 units. However,
November 2021 was one of the rare occasions when Bajaj Auto was able to beat Hero MotoCorp in overall motorcycle sales. However, Hero MotoCorp remained on top of the two-wheeler table, combining both its motorcycles and scooter sales. While Bajaj Auto sold 338,473 units in domestic and international markets, Hero MotoCorp sold a total of 349,393 units of two-wheelers in domestic and international markets.
Bajaj Auto, despite recording a two per cent dip in its export numbers, witnessed more than half of its motorcycle sales coming from international markets. It shipped 193,520 units of motorcycles to overseas markets and registered 144,953 units in the domestic market.
Among its international markets countries in Latin America and Africa, the homegrown motorcycle major recorded higher sales numbers. Bajaj Auto currently sells its motorcycles to nearly 70 countries around the world.
Hero MotoCorp on the other hand is a specialist in the lower displacement motorcycle segment. The homegrown two-wheeler brand has a stronghold in the commuter segment, which was impacted in India due to the late withdrawal of monsoon in many parts of the country, as crop harvesting was delayed.
This impacted Hero MotoCorp’s sales in the rural belt where the company has a strong consumer base. A slowdown in the entry-level commuter bike segment and consumer preference shifting towards high-end models too played a key factor against Hero MotoCorp.
Source: ASTech
