February 2022 Two-wheeler Sales – Comparison

February 2022 two-wheeler sales were mostly in red. However, there were some green shoots mainly in export numbers for some makers…

All the sales numbers for February 2022 are in for six of the top manufacturers of two-wheelers in India – Bajaj, Hero, Honda, Royal Enfield, Suzuki and TVS. Yamaha, for some reason, is not sharing its wholesale numbers for the last couple of months.

Let’s see how each of them fared against each other in terms of Year-over-Year (YOY) and Month-over-Month domestic sales and exports. 

February 2022 Two-wheeler Sales

Domestic Sales

  1. Hero MotoCorp – Highest selling manufacturer of two-wheelers, Hero continued its dominance at the top, however, it registered a drop of 31.58% YoY and 7.58% MoM.
  1. Honda – Arch-rival and second highest seller of two-wheelers, Honda saw the second biggest drop among all manufacturers. It registered a major 30.59% fall YoY and 9.37% MoM. 
  1. TVS Motors – Among the top four, TVS was relatively better placed and managed with a drop of 11.25%% YoY and surprisingly, saw a rise of 3.22% MoM. 

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  1. Bajaj Auto – Bajaj recorded highest drops in both the numbers. Its numbers fell 35.19% YoY and 28.76% MoM. 
  1. Suzuki India – Among all the makers, Suzuki managed with the lowest fall in YoY numbers. At close to 59,000 units in February 2022, its sales were almost flat when compared with last February. On MoM numbers, it contracted by 3.33%%. 
  1. Royal Enfield – The undisputed king of mid-size motorcycles, Royal Enfield was in the red for YoY numbers but it was green in MoM sales.


  1. Bajaj Auto – Ranking at the top, Bajaj saw a meager drop of 0.44% YoY in exports. On MoM terms, it contracted by 2.72%. 
  1. TVS Motors – The second highest exporter from India, TVS Motor registered a gain of 5.58 percent YoY and 9.36 percent MoM. 
February 2022 Two-wheeler Sales
  1. HMSI – Honda was the only one in significant red even in exports. It dropped by 13 percent as compared to last February 2021 while it was in deeper red (31 percent) in MoM numbers. 

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  1. Hero MotoCorp –  Hero, it seems, will soon beat Honda in export numbers if it continues with this growth. It shipped 27 percent higher motorcycles when compared to February 2021 and almost 23 percent more than January 2022.
February 2022 Two-wheeler Sales
  1. Suzuki India – Suzuki continued its impressive run in exports as well as it registered impressive hike of 12% on YoY numbers and 44 percent in MoM figures. 
  2. Royal Enfield – The other Indian maker that is focussing a lot on export markets is Royal Enfield. And that focus is yielding rich dividends as the Chennai based maker grew by 55 percent YoY. However, as compared to January 2022, its sales numbers were down by almost 23 percent.