CHENNAI:The month of September was the first indication of how well the auto sector would do this festive season. Almost all major manufacturers have recorded high growth rates in the number of units sold, with the two wheeler sector in particular showing high double digit growth.
The country’s top three two wheeler makers — Hero Motocorp, TVS Motors and Honda Motorcycles and Scooters India recorded growth rates of 11.24 per cent, 25.99 per cent and 32.1 per cent respectively for the month.
This is the second consecutive month that Hero has sold above 6 lakh units, clocking a sales figure of 6,74,961 units. The company also pointed out that its growth momentum is backed by a series of positive factors, including the successful market launch of the ‘Splendor iSmart 110’ – the first motorcycle completely designed and developed in-house by Hero’s own R&D team.
HMSI meanwhile continues to grow at high double digit rates backed by what is looking like a highly favourable customer sentiment. “The positivity in the economy led by 7th Central Pay Commission, one rank one pension (OROP) disbursements and favourable monsoon has translated to a robust return of demand in the two-wheeler sector ahead of festivals.,” said Y S Guleria, Senior VP, Sales and Marketing, HMSI.
“By leveraging the 12 lakh additional production bandwidth coming from the fourth plant, Honda is for the first time ever ensuring ready availability of all its models, including Activa, throughout the festive season right up to its last-mile rural network,” Guleria said.
TVS too has seen significant shifts. While its scooter sales grew 12.7 per cent, its motorcycle sales have grown at 35.9 per cent, showing a clear uptick in demand for motorcycles — a demand that is highly dependent on rural sentiment.
Sales of cars too saw high growth, with all OEMs except Honda Cars India and General Motors declining during the month.