Bike, LCV sales still in high gear
09 June 2011
In contrast to car sales, total two-wheeler sales increased by 14.49 per cent last month to 10,72,287 units from 9,36,555 units in May 2010. (See: Car sales growth slumps to two-year low in May)
Motorcycle sales grew by 14.33 per cent during the month to 8,29,255 units from 7,25,311 units in the corresponding month last year.
Hero Honda continued its impressive performance with a 13.54-per cent increase in sales to 4,55,662 units. Bajaj Auto also posted a 13.87-per cent increase to 2,18,321 units during the month, while Honda Motorcycle and Scooter India (HMSI) saw its bike sales grow by 10.2 per cent to 60,733 units. Chennai-based TVS Motor Co saw its motorcycle sales increase by 5.42 per cent to 55,154 units during the month.
The scooter segment witnessed a growth of 11.21 per cent in sales during May this year to 1,75,160 units from 1,57,509 units in the same month last year. HMSI's scooter sales during the month were down 2.56 per cent to 75,012 units, while that of TVS Motor Co grew by 17.13 per cent at 35,803 units. Hero Honda's scooter sales during the month grew by 24.10 per cent to 29,460 units.
Three-wheeler sales during May grew by 8.6 per cent to 35,991 units, as against 33,140 in the same month last year.
Rating agency ICRA expects grow at a volume CAGR of 10 per cent -12 per cent over the next five years to reach a size of ~21-23 million units by 2015-16. (See: Two-wheeler sector to grow at over 10 per cent CAGR: ICRA)