TVS Motor sees highest domestic growth among major two-wheeler makers

TVS Motor saw the highest domestic growth among major two-wheeler makers in April. The Chennai-based company sold 232,956 two-wheelers in India, recording a year-on-year (YoY) growth of 29 per cent.

Hero MotoCorp — the country’s largest two-wheeler maker — saw its domestic sales fall 3.1 per cent YoY to 386,184 units. “The company expects the momentum to build-up in the coming months on account of a combination of multiple factors, including a slew of new product launches, a healthy growth in country’s GDP and positive consumer sentiments,” the company said.

Entry-level two-wheelers saw a muted growth for the last several quarters due to factors such as inflation and high acquisition cost.

Domestic sales of Honda Motorcycle and Scooter India (HMSI) increased 6.1 per cent YoY to 338,289 units, while Royal Enfield’s domestic sales jumped by 27.9 per cent YoY to 68,881 units.