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Two-wheeler exports show revival signals in December 2023 quarter

January 15, 2024
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Two-wheeler exports show revival signals in December 2023 quarter

NEW DELHI : Two-Wheeler exports from India appear to be exhibiting signs of revival with the December 2023 quarter reporting positive growth, supported by a strong increase in shipments of India-built scooters.

Though overall two-wheeler exports for the 9 months of the current fiscal is lower when compared with the year-ago period, the October-December 2023 quarter period saw an increase in shipments of two-wheelers when compared with the year-ago period, according to the data provided by the Society of Indian Automobile Manufacturers.

Total two-wheeler exports for the December 2023 quarter stood at 8.57 lakh units when compared with 8.46 lakh units in the year-ago quarter. Total motorcycle sales were lower at 7.36 lakh units as against 7.63 lakh units, scooter exports grew to 1.2 lakh units when compared with about 83,000 units in the December 2022 quarter.

Also, two-wheeler exports in December 2023 grew to about 2.88 lakh units when compared with 2.72 lakh units in December 2022.

India’s leading two-wheeler exporters Bajaj, TVS Motor, and Honda reported an increase in their exports. Bajaj Auto, India’s leading two-wheeler exporter, saw its exports grow to about 1.25 lakh units in December 2023 when compared with 1.22 lakh units in December 2022. TVS Motor’s two-wheeler exports stood at 75,000 plus units as against 66,300 units. Honda Motorcycle & Scooter India’s two-wheeler shipments witnessed an increase to about 31,000 units as against 17,000 units.

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