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The two-wheeler exports have declined by 31 per cent year-on-year (y-o-y) in April-June quarter this year as leading companies including Bajaj Auto, Hero MotorCorp and TVS Motor Company have reported drastic fall (by higher double digits) in their exports during this period, and the sector is unlikely to match the numbers of last year.
According to the latest data shared by Society of Indian Automobile Manufacturers (SIAM), the two-wheeler exports in the first quarter were recorded at 7,91,316 units as compared with 11,48,594 units in the first quarter of 2023.
Country’s largest two-wheeler manufacturer Hero MotoCorp reported exports of 35,324 units (62,027 units) during the quarter, which is a decline of 43 per cent y-o-y.
Similarly, Bajaj Auto which is the largest exporter of motorcycles from India reported a decline of 35 per cent y-o-yduring the first quarter this year to 3,46,399 units (5,32,740 units).
- Read: Two-wheeler exports from India to resume positive growth curve from H2 of this fiscal: TVS Motor
Tamil Nadu-based TVS Motor Company also reported decline of 33.3 per cent y-o-y to 1,97,003 units (2,95,690 units).
During the first half of this calendar year, Hero MotoCorp reported a decline of 43 per cent y-o-y to 71,332 units (1,24,893 units).
Bajaj Auto also reported a decline of 38 per cent y-o-y to 6,56,814 units (10,52,731 units) during the first half of this calendar year.
TVS Motor also reported a decline of 37.5 per cent y-o-y to 3,57,645 units (5,72,423 units) in the first half of this year .
Hopeful of Bajaj
According to analysts, Bajaj Auto should do better as it is recovering faster than any other companies. For instance, its exports have improved a lot in June as compared to January this year.
“Among the companies, we are more positive on Bajaj Auto assuming that exports have bottomed out and we may see growth coming there at a good pace soon,” Ashwin Patil, Senior Research Analyst at LKP Securities, said.
However, because of the higher base year, and challenging economic environment in global markets, the impact can be seen in the exports of the two-wheelers this year, said the analysts.
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