Two-wheeler sales growth for the month of August, led by Hero Honda which controls close to 60 per cent of the market, also grew in double digits.
Hero Honda's sales last month grew by 36 per cent. The company sold 415,137 units of motorcycles in August, which is the highest for the current financial year. This, despite the fact that banks and NBFCs pulled out of the two-wheeler financing market, resulting in a slowdown in two-wheeler sales for much of last year (the industry grew by 2.60 per cent).
Analysts said Hero Honda has grown largely due to its strong 100cc brands like Passion and Splendor and because of its focus on developing the rural market (which is mostly self-financed). The company has said it is confident of surpassing the 4-million sales target for the current year.
Honda Motorcycle & Scooter posted a 14 per cent growth in its August sales. It sold 96,149 units of scooters, motorcycles and CKD (completely knocked-down) kits in both domestic and overseas markets.
Suzuki Motorcycle India sold 13,030 bikes, clocking a growth of 18 per cent. India Yamaha Motor sold 19,508 units of motorcycles in August this year — a growth of 63 per cent. In fact, there is a waiting period of more than a month for the Yamaha Fazer.
Industry executives expect sales in the coming festive months to be brisk, despite large banks pulling out of two-wheeler financing.
