January 2015: Two-Wheelers

Sales Analysis
In the first two parts of our January sales analysis, IAR
looked at Passenger Vehicle dispatches and Commercial Vehicle
sales. In this third and concluding part of sales analysis, we
look at the two-wheeler spectrum and how each segment
performed.

SCOOTERS
It wasnt a great month for two-wheelers as dispatches were
below expectations and the biggest segment recorded negative
growth. However, things did not change much for the Scooters
segment. By the time January ended, dispatches in the Scooters
segment had grown by 25.3% over previous year. The growth rate
that the segment enjoyed in 2014 has been maintained in 2015,
even

though

the

base

is

now

much

bigger.

As usual, segment leader Honda had a strong growth,

dispatching 29.2% higher number of units in the month as
compared to previous year. The faster than the segment growth
means that HMSI has once again nibbled at some more market
share of rivals.
Rival Hero Motor improved its dispatches by less than 19% over
previous year. This was an impressive growth but not in the
same league as Honda.
TVS grew even slower the South India based manufacturer
could improve its dispatches by only 10.5% over previous year.
In comparison, Mahindras growth of 128% was very impressive
but came off a very small base.
Losing marketshare was Piaggio which saw a 16% improvement in
dispatches. Ditto was the case with Yamaha as its dispatches
improved by 22.9%, slower than the segment average.
Losing marketshare and sales volumes both was Suzuki, which
saw dispatch volumes decline by 1.4%, marking a bad month
forth manufacturer.

SUB 125 CC
The Motorcycles segment displayed quite contrasting behaviour.
The segment is huge and growth has been a struggle for
sometime. In January 2015, the sub-125cc segment saw a fall of
10.6% from previous year. Apart from Yamaha (up 23%) and TVS
(up 10.5%), every other manufacturer saw a decline in
dispatches. Bajaj Auto (down 48.2%) and Suzuki (down 48%)
experienced the biggest falls in dispatch numbers.

Segment leader Hero MotoCorp reported a 2.25% drop in

dispatches, a slower fall than the market helping the company
to gain some market share.

125CC 250CC
The sporty commuter market did much better than the sub 125cc
market. In the 125cc 250cc segments, dispatches wee 15.5%
better than January 2014. The rise was led by Bajaj Auto and
TVS Motor Bajaj improved its volumes by 32.4% while TVS
managed 31.5% higher dispatches over previous year. Yamaha
also recorded a 34% jump in dispatches. Significantly higher
growth was also recorded by Suzuki in the segment but from a
very small base.

Both hero and Honda reported declines in dispatches Heros

dispatches were down nearly 70% and relegated the company to a
marginal position in the segment.

BIG BIKES (>250CC)

The Big Bike segment is witnessing more launches in a month
that the mass-market segments manage in a year. The Big Bike
segments are growing aggressively and market leader Royal
Enfield had another strong month with a 42% growth in
dispatches.

Bajaj-KTM also had a strong month with dispatches more than

doubling over previous January.
Harley-Davidson improved its dispatch volumes by nearly 65% as
the Street 750 continues to do well. Rival Triumph shifted 88
bikes in the month, a 49% improvement on a very small base.