Overall sales for two-wheeler companies was disappointing in March, with most seeing a de-growth or tepid growth on a year-on-year basis.
However, most of the companies saw a robust export performance, which had been a key laggard over the last few months.
Here's a look at how two-wheeler companies fared during March 2017.
Bajaj Auto
Bajaj Auto Ltd. saw an 11 percent decline in overall sales for the month of March. A 28 percent fall in the export of commercial vehicles and a 35 percent fall domestically in the same segment contributed to the de-growth.
However, the company's exports, though flat showcased a positive 1 percent growth on a year-on-year basis. The auto-maker in February had snapped a 16-month decline in exports, which dated back to October 2015.
The company only recently ended its eight-year old sales and service tie-up with Kawasaki Motorcycle & Engine Company.
TVS Motor Company
The company reported its first sales growth for 2017 after Narendra Modi government's decision to withdraw old Rs 500 and Rs 1,000 currency notes sent their sales on a downward spiral.
While overall sales grew 10 percent on a year-on-year basis, the exports showcased robust growth with a rise of 23.6 percent for the month. Like Bajaj Auto, TVS was witnessing a decline in exports since January 2016, a streak which ended in February this year.
Overall sales for the company in the January-March quarter grew 3.2 percent.
Hero MotoCorp
Hero MotoCorp Ltd. also saw an end to its decline in overall sales post the government's demonetisation drive. While the overall sales for March grew a mere 0.5 percent, the company posted its highest ever annual sales in the last financial year.
The company, touted to be one of the worst hit post a Supreme Court directive to ban the sale of BS-III compliant vehicles from April 1, offered discounts between Rs 12,500 to Rs 22,000 to offload its inventory.
According to dealers, the company is offering a rebate of Rs 12,500 on its scooters, Rs 7,500 on premium bikes and Rs 5,000 on entry-level mass market motorcycles.
Eicher Motors
The company continued its robust performance, posting its best-ever monthly sales for the month of March. Total sales grew 17 percent to 60,113 units, while exports grew 24 percent to 1,524 units.
The company was also able to sell all of it motorcycles compliant with Bharat Stage-III (BS-III) emission norms before the deadline of March 31. The Supreme Court had last month uplifted a government order to ban sales of such vehicles from April 1 and allow only BS-IV vehicles.
Owing to our strong order book, we have cleared all BS-III inventory in due time. Our customers will be receiving BS-IV compliant motorcycles from April 1, 2017.Rudratej Singh, President, Royal Enfield
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