TVS Motors announced its February 2023 sales, with the company’s cumulative (domestic + export) sales of two-wheelers at 267,026 units. The company managed to overtake Honda Motorcycles and Scooters India (HMSI), with cumulative sales of 247,175 two-wheelers during the same period. Between TVS and Honda, the former saw an 8% increase in sales, making it the second-largest two-wheeler maker in the country. Hero continues to top the list, selling 394,460 units last month.
In terms of domestic sales, TVS sold 221,402 units, a healthy growth of 28%, compared to 173,198 units sold in the same period last year. Meanwhile, Honda sold 227,064 domestically compared to 285,706 in February 2022, a 20.53% drop in sales. While Honda maintained its second spot in domestic sales, TVS outperformed Honda in export volumes last month, allowing it to overtake the Japanese brand in sales.
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Honda’s exports fell 25.36% in February, resulting in a sharp drop in total sales for the month
The export volume of TVS in February 2023 was 45,624 units, compared to 94,427 units in February, a sharp decrease of 51.68% year-on-year. On the other hand, Honda’s two-wheeler India exported 20,111 units last month, a drop of 25.36 percent compared to 26,944 units exported overseas in February last year.
Despite a large number of product launches, Honda Two Wheelers India has been struggling to boost sales in the past few months. The company is now gearing up this month to launch the Honda CB350 cafe racer and a new entry-level commuter, both aimed at high-volume sales. Honda is also expected to launch a revised lineup of OBD 2-compliant two-wheelers later this month. Meanwhile, TVS is gearing up to host its annual Moto Soul cycling festival in Goa this weekend. The company is expected to make some announcements at the event.
First published date: March 2, 2023 at 10:58 AM CST
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