Due to rising fuel costs and low-income levels in middle-class families, the domestic two-wheeler market has been reeling under pressure; however, to offset the decline in domestic demand, home-grown two-wheeler manufacturers have been tapping the global markets to generate enough export volumes.
As per the latest data released by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler exports in the country have doubled in H1FY22 at 22,45,221 units compared to 11,12,839 units in the same period last year.
Leading the two-wheeler exporter is Pune-based Bajaj Auto, which clocked 10,98,520 units in H1FY22, accounting for 48.92% of the total two-wheelers exports from the country.
While comparing it to the same period of the previous year, the manufacturer of popular models such as Pulsar and Discover have posted a robust growth of 75%.
Second on the list is TVS Motor which leads the chart as it posted a growth of 120% at 5,60,118 units in H1FY22 compared to 2,54,143 units in H1FY21.
Both Bajaj Auto and TVS Motor cornered 74% of the total exports of two-wheelers in the country.
In terms of different sub-segments, motorcycles are the largest exported category in two-wheelers as companies exported as many as 20,52,898 units in H1FY22 at a growth of 96% YoY, followed by scooters at 185,461 units and mopeds at 6,862 units in the same period.
Third, on the chart is the Japanese two-wheeler manufacturer Honda Motorcycle and Scooters, which clocked 1,75,233 units exports in H1FY22, growing at 167%.
Similarly, domestic rival Hero MotoCorp also registered a growth of 134% at 156,615 units in H1FY22.
Both Yamaha and Suzuki posted a robust growth rate of 125% and 285%, respectively, in H1FY22.