Over the past years, India has become the largest motorcycle market in the world, thanks to the skyrocket in sales. Many motorcycle manufacturers saw that opportunity and made strategies specifically for the Indian market. Actually, there are lots of bikes that are specifically tailored to India, much of them being small-displacement bikes.
Even though there is a steady flow of new bikes launching in India, that market is showing a downward trend actually. Several companies ended fiscal 2019 on not such a positive note, but there is always room for improvement.
The three biggest motorcycle manufacturers in India had lower sales figures at the end of 2019 compared to the end of 2018. We are talking about Giants Bajaj, Hero, and TVS. TVS managed to lose 25 percent of sales by December 2019.
Royal Enfield also has a dip in sales. Their sales figures for December 2018 are 56,026. The sales figures for December 2019 for Royal Enfield are 48,489. That’s a 13,5% decrease in sales!
Out of bigger motorcycle manufacturers in India, only Suzuki India has positive sales results. They managed to increase their sales by 1,1%.
While some companies have difficulties in the domestic, Indian market; they are much more successful in foreign markets. Hero and Royal Enfield saw a decrease in their exports. On the other hand, Bajaj and TVS grew their foreign market shares to almost 20%!
There are a few causes of this negative trend in the Indian market. Some analysts claim that an increase in insurance premium in 2018, and the BS-VI emission norms that will take effect in April 2020, are the main causes.
There will probably be a decrease in sales in the Indian market for a few months. Probably, they will stabilize, after the emission norms take effect.
Source: Ride Apart