With 421,096 units shipped overseas between April 2023 and January 2024, demand for made-in-India scooters is at its highest yet, going ahead of FY2023’s 416,935 units.
19 Feb 2024 | 8192 Views | By Ajit Dalvi
India’s two-wheeler industry, which registered strong year-on-year growth of 26% in January 2024 with sales of 1.49 million units and 11% in cumulative April 2023-January 2024 wholesales (14.96 million units), is seeing an uptick in exports, which have been down for a long time mainly due to dampened market conditions ...
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India’s two-wheeler industry, which registered strong year-on-year growth of 26% in January 2024 with sales of 1.49 million units and 11% in cumulative April 2023-January 2024 wholesales (14.96 million units), is seeing an uptick in exports, which have been down for a long time mainly due to dampened market conditions in key global two-wheeler markets. And, it is the scooter market which is driving the resurgence.
As per the latest figures released by apex industry body SIAM, while overall two-wheeler exports remain in the red – down 12% YoY at 2.8 million units – overseas shipments of scooters at 421,096 units in the first 10 months of FY2024 are up 24 percent (April 2022-January 2023: 340,636 units). With this performance, they have gone past FY2023’s export total of 416,935 scooters, the previous best for scooters and are now the new benchmark, with two months still to go in the current fiscal year (see data table below). Since FY2014, over 3.34 million made-in-India scooters have been shipped overseas.
A close look at the scooter industry’s export performance in the current fiscal reveals that Honda and TVS Motor Co, the top two scooter OEMs in India, are driving the resurgence in scooter exports.
Honda Motorcycle & Scooter India shipped 187,305 units (Activa, Dio, Grazia), which is an increase of 17% and an additional 27,076 units YoY.
TVS Motor Co, with total exports of 98,270 units, has shipped an additional 34,275 scooters and posted strong 54% YoY growth. They include 98,134 units of the Jupiter and NTorq, and 136 units of the all-electric iQube scooter.
Suzuki dispatched 68,901 scooters overseas in the first 10 months of FY2024, up 6%. Expect the Access 125 to be the one most in demand followed by the similar-powered Avenis and Burgman.
India Yamaha Motor recorded a 10% increase in exports at 30,149 units.
Hero MotoCorp has seen strong export demand for its Destini 125, Maestro and Pleasure scooters –24,978 units, up 205% albeit on a low year-ago base of 8,200 units. The company has also shipped 6 Vida EVs abroad.
While Piaggio’s exports are down 27% at 11,233 units, Bajaj Auto has shipped 74 Chetak e-scooters in the fiscal to date.
A total of 412 EVs have been exported in the first 10 months of FY2024. While Ather Energy has exported 196 of its e-scooters, TVS has shipped 136 iQubes, Bajaj Auto 74 Chetaks and Hero MotoCorp six Vida EVs. This makes up one percent of the total 421,096 scooters exported, and are up 586% YoY on a very low year-ago base of 60 EVs exported.
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