Honda dethrones Hero MotoCorp

The Indian two-wheeler industry exported over 23.39 lakh units between April 2016 – March 2017, registering a decline by 5.78 percent over FY 2015-16. Major export markets like Africa and Latin America continued to stagger under high inflation and currency devaluation. The data, released by Society of Indian Automobile Manufacturers (SIAM), indicates that Bajaj Auto continued to top the two-wheelers exporter’s list as the company sent out over 12.18 lakh units of motorcycles to its export markets. The company exported over 14.59 lakh units in FY16; hence registering an overall export decline by 16.50 percent. Hosur based TVS Motor Company’s exports grew marginally by 1.56 percent as it exported 44,572 units of scooters, over 2.99 lakh units of motorcycles and about 20,152 units of its mopeds. Overall, the company exported about 3.64 lakh units in FY 2016-17 as against 3.58 lakh units in FY 2015-16. Currently, TVS exports to over 50 countries in Asia, Africa and Latin America. Evaluating export market share, the largest two-wheeler exporter Bajaj Auto has seen a decline in market share from about 63 percent in 2010-11 to 52 percent in FY 2016-17. Hero Motocorp exports have declined 8 percent from previous 9 percent during FY 2010-11. HMSI has raised its export activities after parting ways from Hero in 2010 and since then its exports market share has gone up from 7 percent to current 12 percent. TVS has also gained its export market share to 16 percent in last five years.