Introduction
In December 2023, Suzuki Motorcycle India witnessed a notable upswing in motorcycle sales, with a robust figure of 79,483 units, marking a commendable 24% surge in comparison to the sales recorded in December 2022. This positive development underscores Suzuki's thriving presence in the Indian motorcycle market.
Details of Sales:
- In November 2023, Suzuki showcased its latest offerings at a prominent motorcycle show, unveiling exciting models such as the GSX S1000 GX ADV and GSX-8R fully-faired machine, along with special editions like the 25th Anniversary Edition of Hayabusa, 2024 V-Strom series, and the 2024 GSX S950.
- The cumulative sales for December 2023 showed a substantial growth of 24.36%, reaching 79,483 units, a noteworthy increase of 15,571 units compared to December 2022.
- The domestic market within India witnessed an impressive year-on-year (YoY) growth of 68.74%, with sales escalating from 40,905 units in December 2022 to 69,025 units in December 2023, contributing significantly to the overall volume growth.
Popular Models and Market Trends:
- Suzuki's domestic success is attributed to the popularity of models like the Suzuki Access scooter, consistently securing a spot among the top 10 scooters sold each month.
- Key models like the Burgman Street 125, Gixxer 155, and the 250 series played a pivotal role in driving outstanding sales growth for Suzuki in the domestic market.
Month-on-Month (MoM) Performance:
- While the year-on-year growth was impressive, the month-on-month (MoM) comparison revealed a decline of 11.03% in total sales, indicating a temporary slowdown in December compared to the preceding month, November 2023.
- The dip was noticeable in both domestic sales, which contracted by 5.62% MoM, and in exports, which experienced a more substantial decline of 35.46%.
Sales Performance in 2023:
- Examining Suzuki's sales performance throughout 2023 provides a comprehensive view of their market dynamics.
- The year began on a positive note with January 2023 recording sales of 66,205 units, a YoY growth of 9.21%.
- February 2023 witnessed a dip of 10.49%, with sales totaling 52,455 units.
- The momentum rebounded in March 2023, achieving a remarkable 44.02% surge in sales to 73,069 units.
- The first quarter (Q1) of 2023 closed with an overall growth of 12.81%, as Suzuki sold 1,91,729 units, compared to 1,69,960 units in Q1 2022.
- The positive trend continued in the second quarter (Q2) with sales reaching 1,97,358 units, reflecting a robust YoY growth of 17.63%.
- The first half (H1) of 2023 recorded an impressive sales growth of 15.21%, totaling 3,89,087 units compared to 3,37,733 units in H1 2022.
- Moving into the third quarter (Q3 2023), Suzuki sustained its upward trajectory, closing with 2,47,210 units sold and a substantial growth of 25.14% compared to Q3 2022.
- The momentum persisted in the fourth quarter (Q4 2023), witnessing a notable 30.38% increase, with sales reaching 2,26,462 units compared to 1,73,695 units in Q3 2022.
- The second half (H2 2023) concluded with a remarkable growth of 27.59%, totaling 4,73,673 units, a significant uptick from the 3,71,244 units sold in H2 2022.
- Cumulatively, Suzuki's sales for the entire year (January to December 2023) amounted to 8,62,759 units, reflecting an impressive YoY growth of 21.69% from the 7,08,977 units sold in the corresponding period of 2022.
Despite a slight dip in December compared to November, Suzuki had an exceptionally successful year in 2023, experiencing substantial overall sales growth across various models in both the domestic and global markets.