The first thing that strikes minds when it hears the word "Vespa" may be long rides in country roads and carefree travel in the city, with it's splendid design ,elegant finish and smooth on road travel. The only drawback was that it was always an object of pride to the elite due to it's high prices. Vespa has proved it's smartness by introducing a new range of inexpensive scooters which might just make it a pretty stiff competition to old-timers in the industry like Honda. Not only will it see increase in sales, but also aid the interested buyers who have looked to the Vespa as a trophy.
The two wheeler segment is dictated majorly by motorcycles. This particular section of two wheeler however has been characterized by a decrease in sales from February 2014 to February 2015 from 69% to 64%. This is balanced by an increase in scooter's market share from 26 to 31% over the same period of time. Mopeds have also seen a decrease in market share is flat from February 2014 to February this year from 5 to 4%.
Two wheeler sales have escalated over the past year with Hero being one of the pioneers of this segment. From 494 thousand units in Feb 2014, sales have decreased to 475 thousand units this year. Honda has seen an upsurge in sales from 313 to 347 thousand units. TVS has also seen a subtle but sure increase in sales over the past year from 147 to 164 thousand units. Sales of Bajaj however has decreased by a certain extent. Manufacturers like Suzuki, Piaggio and Harley Davidson, Kawasaki, Triumph have also seen slight increase in sales over the year from Feb 2014 to Feb 2015.
Hero lost slight market share but its closest competitor Honda gained some market share due to overall increased size of market in Scooter segment.
Bike Market Share:
Honda also comprises a small percentage of market share with 16.9% in Feb 2014 to more than 1% the same month next year. Bajaj and Mahindra have also seen a marked decrease in their share. TVS has witnessed an increase in market share with a share of 6% in Feb this year. Royal Enfield also holds a 3.8% market share in this segment, gained 1.8%.
Scooter Segment:
Scooters on the other hand have seen a varying trend in sales. Honda on one hand has seen a major increase in sales from February 2014 to February 2015 by around 22%. Hero has also seen a tremendous growth of 27% increase in sales over this period. TVS has seen a whooping 34% in sales whereas Suzuki has seen a decline in sales by 9.8%. TVS is heavily promoting its scooter product range.
Scooter market share:
The scooter segment share has been monopolized by Honda with a share of about 56.3% in Feb 2015, more than the 54.8% share in 2014 of the same month. Hero, however has seen a increased in it's market share from 17% to 18.2% over the same time. TVS company has seen a meager change in their share, similar to Suzuki, Yamaha, Piaggio and Mahindra.
Two Wheeler Export:
Bajaj sold 100,139 units to overseas market. TVS jumped from 22,713 units to 31,001 units. Hero needs to improve its export performance to to fulfill its become global market leader.
Export Sales:
Export market share:
Bajaj is a market leader but it lost around 10% market share. TVS has improved its export performance and increased its market share from 12.5% to 17.7%
Source; TVS, Hero,Honda, Vespa, SIAM, Autobei.com
