5/13/2020 Hero MotoCorp's Splendor sprints ahead of Honda Activa in FY20

https://www.businesstoday.in/current/corporate/hero-motocorp-splendor-sprints-ahead-of-honda-activa-in-fy20/story/403633.html 1/5

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India's largest two-wheeler manufacturer 'slong time bestselling motorcycle Splendor reclaimed its poleposition from Honda's Activa in 2019-20.

The overall market for two-wheelers shrunk by almost 18 percent during the fiscal with both scooters and motorcyclessuffering heavy declines. It did not spare the respectivebestsellers either. The Activa, which has been the country'sbestselling two-wheeler ever since it overtook Splendor in2016-17, registered a steeper near 14 per cent decline in sales in2019-20 at 25,91,059 units. The Splendor witnessed a 12.4 percent decline at 26,32,800.

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 Sumant Banerji   New Delhi     Last Updated: May 12, 2020  | 22:04 IST

Hero MotoCorp's Splendor sprints aheadof Honda Activa in FY20The Activa registered a steeper near 14 per cent decline in sales in 2019-20 at 25,91,059 units;Splendor witnessed a 12.4 per cent decline at 26,32,800 units

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The overall market for two-wheelers shrunk by almost 18 per cent during 2019-20

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5/13/2020 Hero MotoCorp's Splendor sprints ahead of Honda Activa in FY20

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While the downturn in the automobile industry is likely todeepen this year in the shadow of the coronavirus pandemic,sales of entry level models may be more resilient as a section ofconsumers would opt for personal transportation. This willhelp prospects for both the Splendor and Activa this year.

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"As the lockdown gets lifted in a phased manner, publictransport is expected to be one of the last ones to be opened up.More than these restrictions, change in consumer behaviourtowards owning his/her personal vehicle migrating away frompublic transport could likely generate some demand for entrylevel two-wheelers," says a note by .

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"The largest share in the motorcycle segment is held by theentry and mid-level category of 75 cc - 200 cc accounting forover 93 per cent of the sales in the country. While in thescooters segment sales, around 99 per cent share is held by the75 cc - 125 cc category. Entry and mid-level segment in twowheelers remain largely dependent on the rural demand thataccount for about 50 per cent share in overall volumes. Whilethe farm distress led by kharif season exerted pressure on thefarm incomes, various industry as well as governmentestimates suggest a record crop production for rabi season isexpected to provide some relief and increase the disposableincomes in the hands of rural populace."

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Splendor has been India's bestselling motorcycle for close tothree decades now but over the last few years, Activa leveragedthe strong latent demand for scooters in the country. Between2007-08 and 2017-18, scooter sales in India grew at ascorching 20 per cent compounded annual growth rate(CAGR), which was more than three times the sub-6.6 per centgrowth rate of motorcycles. In the process, their share in theoverall two-wheeler market has grown from a low of 11.95 percent in 2006-07 to nearly 32 per cent today.

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