TVS outsells Honda in February 2023 two-wheeler sales

TVS Motor Company announced its sales for February 2023 and the company’s cumulative (domestic + exports) two-wheeler volumes stood at 267,026 units. The company managed to outsell Honda Motorcycle and Scooter India (HMSI), which cumulatively sold 247,175 two-wheelers during the same period. Between TVS and Honda, the former registered eight per cent more sales making it the second-largest two-wheeler maker in the country. Hero continues to be at the top spot with 394,460 units sold last month.

With respect to domestic sales, TVS sold 221,402 units, growing by a healthy 28 per cent, as against 173,198 units sold during the same period last year. Meanwhile, Honda’s domestic volumes stood at 227,064 units, against 285,706 units sold in February 2022, registering a 20.53 per cent decline in sales. While Honda manages to retain second place in domestic volumes, TVS managed better export volumes than Honda during the previous month boosting its volumes over the Japanese brand.

Honda's exports declined by 25.36% in February which massively reduced its overall volumes for the month

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Honda's exports declined by 25.36% in February which massively reduced its overall volumes for the month

TVS’ exports stood at 45,624 units in February 2023 as against 94,427 units in February, a sharp decline of 51.68 per cent year-on-year. On the other hand, Honda Two-Wheeler India’s exports stood at 20,111 units last month, witnessing a drop of 25.36 per cent when compared to 26,944 units shipped overseas in February last year.

Despite a slew of launches, Honda Two-Wheeler India has been struggling to get its numbers up in the last few months. The company is now gearing up to introduce the Honda CB350 cafe racer and a new entry-level commuter this month, both of which will be targeted at bringing big volumes. Honda is also expected to introduce its revised two-wheeler lineup meeting OBD 2 compliance later this month. Meanwhile, TVS is gearing up to host Moto Soul, its annual biking festival in Goa this weekend. The company is expected to make a few announcements at the event.