Royal Enfield motorcycle sales grew 30 percent in August 2016, though exports registered a slightly lower rate of growth, according to Eicher Motors, which makes the motorcycle, in a regulatory filing to the stock exchanges on Thursday. Honda Motorcycles and Scooters India (HMSI), Yamaha and Hero Motocorp also reported high growth.
Royal Enfield
The company sold 54,735 units last month in the domestic market, up 31.5 percent from 41,600 units in the corresponding month last year, while exports registered a growth of 30 percent at 986 units, according to the regulatory filing.
For the four-month period ended August 2016, sales of Royal Enfield motorcycles stood at 2,56,582 units, up 35 percent from 1,89,733 two-wheelers sold in the corresponding period last fiscal.
Eicher Motors shares were trading almost flat at Rs. 22,744.95 on the BSE at around 12.12 p.m.
Honda Motorcycles and Scooters India (HMSI)
The company sold 4.92 lakh units in August 2016, up 24 percent from 3.95 lakh two wheelers in August last year. Domestic sales rose 25 percent to 4.66 lakh units from 3.73 lakh units in August 2015, while exports jumped to 26,074 units from 22,060 two wheelers shipped last August, the company said in a statement.
Yamaha India
India Yamaha Motor Pvt. Ltd. sold 74,868 two wheelers in domestic sales (including Nepal) August this year, 22 percent more than 61,440 units sold last August.
Hero Motocorp
Sales grew 28 percent in August this year to 6.16 lakh units as against 4.80 lakh two wheelers sold last August. New launches are in the offing to drive sales in the coming months.
"The company will launch 15 new products across segments in its domestic and global markets this fiscal, out of which three motorcycles will be introduced in the domestic market before the festive season. These include the new Achiever 150cc motorcycle and the Super Splendor and Passion PRO with the Hero patented i3S technology," the company said in a statement.
The industry will gauge the impact of the migration from the current taxation regime to the Goods and Services Tax, tentatively by April 1, 2017.
"Too early to do calculations until (GST) Council fixes the rate. I have my doubts on the April 1, 2017 deadline for GST (Goods and Services Tax), though we have done our homework," Hero MotoCorp CMD and CEO Pawan Munjal told reporters on the sidelines of the Society of Indian Automobile Manufacturers' (Siam) 56th annual conference on Wednesday, according to IANS.
