Accordingly, to data released by the Kingdom Office for National Statistics, the economy is deteriorating in Great Britain, month after month, confirming the technical recession could be within December GDP figures after it fell negative in August.
Production is negative consumer spending is declining, hit by the last 40years’ record inflation and not yet well supported by the new government.
In the 2-wheeler market, the economic environment explains most of the trends.
After a quite positive first half, which ended with sales up in double-digit, pushed by the electric vehicles boom and entry-level motorcycles segment, in the third quarter market fell 11.3%.
October sales have been negative with 8.003 sales after the first ten months, 2022 sales have a negative outlook for the rest of Q4 could move the final data to be flat over the previous year before starting the next with a negative perspective.
Indian two-wheeler was expected to see a seismic shift during the festive period, failed to live up to the market expectations, and recorded marginal year-on-year growth in the Indian market of 1.33 percent for October 2022. In comparison, the domestic four-wheeler segment saw the same period, a 29.26 percent YoY growth.
The domestic two-wheeler drive saw total sales of 14,97,021 motorcycles and scooters in the domestic market in October 2022, according to the data against 14,77,335 units in October 2021, provided by Federation of Automobile Dealers Associations (FADA) Chairman Vinkesh Gulati. Higher at 16,49,062 units of sales in September 2022.
The largest two-wheeler manufacturer, Hero Moto Corp observed a sales drop of negative 16.10 percent in October 2022 it sold 4,42,825-unit. To sell the company managed 5,27,779 units in the same month last year. Stood exports at 11,757 units as against 20,191 units in October 2021.
With festivals of Dussehra and Diwali — which trigger record retail buying — occurring in October this year, the dispatch sales of October are not comparable to the previous years, when the festival days are spread, across October and November, Hero MotoCorp revealed in a statement.
The company also registered a growth of 2 percent in sales increasing from 355,033 units in October 2021 to 360,288 units in October 2022. TVS motorcycle sales stood at 164,568 units in the last month against sales of 172,361 units in October 2021, a growth of 20 percent, scooter registered from 113,124 units in October 2021 to 135,190 units in October 2022.
The total exports registered sales of 82,816 units in October 2022 against sales of 95,191 units in October 2021. Two-wheeler exports registered sales of 68,696 units in October 2022 against 82,736 units in October 2021.
The Pune-based two-wheeler maker Bajaj Auto reported in total a 10 percent drop in sales at 3,95,238 units in October. Domestic sales the company also reported 2,06,131 units in October 2022, up 3.72 percent against last year’s sales of 1,98,738 units.
On the other hand, two-wheeler exports fell 29 percent to 1,35,772 units against 1,92,565 units in October 2021. Total commercial vehicle sales rose 10 percent at 53,335 units last month against 48,312 units in the corresponding period last year.
The company’s India offerings include models like Pulsar, Platina, CT 100, Avenger, and Dominar well as Chetak electric scooters.
In total sales, Royal Enfield said, an 86 percent increase at 82,235 units in October 2022. The company sold, in comparison,44,133 units in October 2021. Exports rose by 62 percent at 5,707 units against 3,522 units in October 2021.
Interestingly, in the domestic market company also recorded the highest growth in October 2022. Its dispatches to dealers were at 76,528 units compared to 40,611 units in the year-ago month, a growth registering of 88 percent.
The company’s trained offerings are Classic 350, Hunter 350, Meteor 350, Bullet 350, and Electra 350 series.
B Govindarajan, CEO of Royal Enfield, said, The momentum for the demand that we witnessed at the start of the festive season has continued well into this month in October bringing in the highest-ever sales in a month.
Suzuki Motorcycle India
In the same period last year, Suzuki Motorcycles sold 69,634 units in October 2022, up 22.63 percent against 56,780 units sold over.
Rally to end Indian benchmark indices made a late with decent gains on Thursday. The day started on a positive note index trimmed the profits and remained flat for most of the day before making a run toward the end.
While Sensex climbed 212 points, to end at 59,756Nifty sunk at 17,736, a jump of 80 points.
The metal index had a stellar day and gained more than 2% JSW Steel gained more than 5% and pushed the index. Today Hindalco and Tata Steel also had a decent run. Realty and Oil & Gas also jumped handsomely in today’s sessions.
The market IT stocks dragged and ended in the red. Among stocks, Asian Paints followed Bajaj Twins and Tech Mahindra.
Asian stock markets wait to mix on Thursday as investors for an update on the US economy of some news on the ECB meeting expected to increase its key interest rate to a 13-year high.
Japan Nikkei share average snapped a three-session rally on Thursday as earnings season hits full swing. The Nikkei closed down 0.32%. It sometimes traded in positive territory in the morning session before paring all the gains in the afternoon.
China as bleak industrial stocks closed lower profit on Thursday figures and widening Covid-19 outbreaks weighed on sentiment. Hong Kong ended higher shares. The blue-chip fell index CSI300 by 0.7%, and Shanghai Composite Index lost 0.6%. Hang Seng index added 0.7% extending a rebound following the tumble.
European on Thursday shares extended lower ahead of an interest rate hike from ECB, while Credit Suisse tumbled after the bank unveiled its restructuring plans. The pan-European slipped STOXX 600 index.