Hero MotoCorp grabs 37.04% market share in FY2021 despite 10.1% sales decline
Hero MotoCorp is undoubtedly the biggest two-wheeler manufacturer in India, as well as in the global market too. The homegrown two-wheeler major has witnessed 1.26% growth in market share in FY2021, as compared to FY2020, despite losing 10.1% sales volume in the last fiscal.
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In FY2021, Hero MotoCorp registered a 37.04% market share with 55,99,859 units sold, while in FY2020, the company had a market share of 35.78% with 62,31,458 units. The company has a stronghold in the commuter segment, where it sells widely popular models like Splendor, HF Deluxe, Passion, etc. Among the scooters, Pleasure and Destini emerged as the best sellers for the two-wheeler OEM.
The overall Indian market registered 1,51,19,387 units of total two-wheeler sales in FY2021, marking a 13.2% decline, as compared to 1,74,16,432 units recorded in the FY2020.
However, the two-wheeler market was the space where recovery was witnessed at a faster pace compared to the other segments such as passenger vehicle, three-wheeler, commercial vehicles segments. Increased preference towards personal mobility in the light of the Coronavirus pandemic, people’s fear towards availing public transport system, etc have played key roles behind this.
Meanwhile, among the other two-wheeler majors, Honda was the closest competitor against Hero MotoCorp. The Japanese two-wheeler major witnessed a 17.8% decline in sales at 38,67,817 units in FY2021, as compared to 47,06,589 units sold in FY2020.
Other two-wheeler companies present in India including TVS Motors (10.2%), Bajaj Auto (12.9%), Royal Enfield (12.7%), Yamaha (9.3%), Suzuki (23.9%) too registered a double-digit decline in sales in the last financial year.
In the meantime, British premium two-wheeler manufacturer Triumph registered a 22.7% sales growth in the last financial year, when it sold 725 units of motorcycles, as compared to 591 units sold in FY2020.
Triumph was the only two-wheeler brand in India that witnessed sales growth in the last financial year. It seems that Harley Davidson’s exit from the Indian market has created a void and pulled its customers to the Triumph motorcycles.