艾彻汽车公司eicher motors分析报告-培训课件外文版2024.6

COMPANIES

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PRODUCTSEicherMotorsCHAPTER

01AutomotiveindustryinIndiaProductionvolumeofpassengercarsinIndiafrom2011to2022(in1,000s)PassengercarproductioninIndia2011-20225,0004,5004,0003,5003,0002,5002,0001,5001,00050002011201220132014201520162017201820192020202120223Description:TheproductionvolumeofpassengercarsinIndiawasover4.4millionin2022,asignificantincreasefromthepreviousyear.Theproductionvolumeexceededthehighestvolumeof2018.

ReadmoreNote(s):IndiaSource(s):OICASalesofautomobilesinIndiafromfinancialyear2011to2023,bytype(inmillions)SalesofautomobilesIndiaFY2011-2023,bytypeTwowheelersPassengervehiclesCommercialvehiclesThreewheelers302520151050FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY20234Description:Beingoneofthelargestautomotivesectors,Indiahadover295millionregisteredvehiclessince2019.Itwasthelargestproduceroftwo-wheelersacrosstheglobein2022.Themarketwithinthecountrywasdominatedbythissegmentalso.Infinancialyear2022,over15.8millionunitsoftwo-wheelersweresolddomesticallyacrossthesouthAsiancountry.Adropinthesalesvolumeoftwo-wheelerswaswitnessedinthepasttwoyear.

ReadmoreNote(s):India;FY2011toFY2023Source(s):SIAMIndiaExportvolumeofvehiclesfromIndiabetweenfinancialyear2010and2023(inmillions)ExportvolumeofvehiclesIndiaFY2010-20236543210FY2008

FY2009

FY2010

FY2011

FY2012

FY2013

FY2014

FY2015

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY20235Description:India`sautomotivesectorisoneofthelargestintheworld.Theindustryhadcloseto26millionvehiclesproducedinfinancialyear2023.Thesectoralsowitnessedastronggrowthinexportsintherecentyearsuntil2021duetotheimpactofcoronaviruspandemic.Bytheendoffiscalyear2023,thesouthAsiancountryhadexportedover4.7millionvehicles.Indiaisalsothelargestproduceroftwo-wheelersglobally.BajajAutowastheleadingexporteroftwo-wheelers,followedbyTVS[...]

ReadmoreNote(s):India;FY2010toFY2023Source(s):SIAMIndiaExportvolumeofautomobilesfromIndiafromfinancialyear2011to2023,bytype(in1,000s)ExportvolumeofautomobilesIndiaFY2011-2023,bytypeTwowheelersPassengervehiclesThreewheelersCommercialvehiclesQuadricycles7,0006,0005,0004,0003,0002,0001,0000FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY20236Description:Attheendofthefiscalyear2023,morethan4.6milliontwowheelerswereexportedfromIndia.Afteralongperiodoftwo-digitgrowthfigures,thisisaminorincreasecomparedtothepreviousyearinfinancialyear2022.Passengervehicles,commercialvehicles,quadricyclesandthreewheelersexperiencedadeclineinexports.Themajorreasonforadeclineinexportsappearstobetheimpactofthecoronaviruspandemicanddecliningdemandsespeciallyontheautomotivemarket.

ReadmoreNote(s):India;FY2011toFY2023Source(s):SIAMIndiaMarketshareofautomobileacrossIndiainfinancialyear2023,bysegmentIndianautomobileindustrymarketshareFY2023,bysegmentCommercialvehicles4.54%Three-wheelers2.3%Passengervehicles18.35%Two-wheelers74.81%7/statistics/1066695/india-automotive-industry-market-share-by-segmentInfiscalyear2023,two-wheelershadthehighestshareintheautomotiveindustryacrossIndia,atabout75percent.Thatyear,thesouthAsiancountrymanufacturedaround19.5milliontwo-wheelers,ofwhichmorethan3.65millionwereexported.

ReadmoreNote(s):India;FY2023Source(s):SIAMIndiaCHAPTER

02Two-wheelermarketTwo-wheelersasapercentageofvehiclesinoperationinIndiafromfinancialyear1951to2020Shareoftwo-wheelersintotalvehiclesinoperationIndiaFY1951-202080%74.4%74.8%74.7%73.5%73.5%73.9%72.7%73.1%72.1%72.2%71.7%71.7%71.8%72.4%71.5%71.5%71.4%70.6%70.9%70.1%66.4%70%60%50%40%30%20%10%0%48.6%30.9%13.2%FY8.8%FYFYFYFYFYFYFYFYFYFYFYFYFYFYFYFYFYFYFYFYFYFYFYFY1951

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2001

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20209Description:Two-wheelersmadeupashareofabout75percentofthetotalvehiclefleetinoperationacrossIndiainfinancialyear2020.Thatyear,cars,jeepsandtaxisaccountedforacombinedshareofabout13percentinthetotalregisteredvehiclepopulationacrossthecountry.Thecountryhadatotalofaround326millionregisteredvehiclesattheendoffiscalyear2020.ReadmoreNote(s):India;FY1951toFY2020Source(s):MinistryofRoadTransportandHighways(India)ProductionvolumeoftwowheelersacrossIndiafromfinancialyear2008to2023(inmillions)ProductionvolumeoftwowheelersIndiaFY2008-202330252024.523.1521.0319.9319.3519.4618.8318.4917.716.8815.7215.431510513.3810.518.428.030FY2008

FY2009

FY2010

FY2011

FY2012

FY2013

FY2014

FY2015

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY202310Description:Two-wheelerproductionvolumestoodataround19.5millionacrossIndiaattheendoffiscalyear2023.Two-wheelersaccountedforashareofaround75percentoftotalautomobileproducedacrossthesouthAsiancountryinthesameyear.Theproductionvolumesawincreasethefirsttimeinthreeyears,whichwasmostlyduetotheimpactofcoronaviruspandemic.ReadmoreNote(s):India;FY2008toFY2023Source(s):SIAMIndiaSalesvolumeofmotorcyclesinIndiainFebruary2023,bymodel(in1,000units)SalesvolumeofmotorcyclesinIndia2023,bymodelSalesvolumeinthousandunits100

150050200250300HeroSplendorHondaActiva266.47174.5HeroHFDeluxeTVSJupiter56.2953.89BajajPulsar125ccSuzukiAccessHondaCBShineTVSXLSuperMopedTVSApache48.7340.1935.5935.3534.94TVSRaiderRoyalEnfieldClassic350BajajPlatina30.3527.4623.9222.13HeroSuperSplendor11Description:InFebruary2023,Hero'sSplenderwasthemostsoldmotorcycleacrossIndia,withasalesvolumeofover266thousandunits.ItwascloselyfollowedbyHondaActiva.HeroMotorwasIndia'sbiggesttwo-wheelermanufacturer,anditsoldmorethanfivemillionunitsin2020,adecreasefromaround6.7millionunitsin2019duetotheimpactofthecoronaviruspandemic.ReadmoreNote(s):India;February2023Source(s):AutoPunditz;Website()Two-wheelersalesinIndiainfinancialyear2023,bytype(inmillions)Two-wheelersalesinIndiaFY2023,bytype1210.2310865.194200.44MotorcyclesScootersMopeds12Description:Infinancialyear2022,motorcyclesformedthemajorchunkofthetwo-wheelerindustryinIndia.Inthatyear,morethan10.2millionmotorcyclesweresoldinthecountry.ScootersandMopedswerethetwoothercategories.MajormanufacturersincludeHeroMotoCorp,Honda,andBajaj.ReadmoreNote(s):India;FY2023Source(s):ETAuto;SIAMIndiaMarketshareoftwo-wheelersacrossIndiainfinancialyear2023,byleadingmanufacturersMarketshareoftwo-wheelersIndiaFY2023,byleadingmanufacturersMarketshare15%0%5%10%20%25%30%35%HeroMotoCorpHondaMotorcycles&ScootersTVS32.2%25.2%16.2%BajajAuto11.3%SuzukiMotorcycleRoyalEnfield4.5%4.5%IndiaYamahaMotorOlaElectric3.5%1.2%0.39%0.33%OkinawaAutotechPiaggio13Description:Inthefinancialyear2023,HeroMotoCorpwastheleadingtwo-wheelermanufacturerinIndia,withamarketshareof32percent.Thevolumeoftwo-wheelerssoldacrossIndiaduringthesameperiodreached15.9millionunits,whichwasanincreasefromthepreviousyear`s13.6millionunits.ReadmoreNote(s):India;FY2023Source(s):ETAutoCHAPTER

03CommercialvehiclemarketCommercialvehicleproductioninIndiafromfinancialyear2008to2023(inunits)CommercialvehicleproductioninIndiaFY2008-20231,200,0001,000,0001,112,4051,035,626929,136895,448832,649810,253805,527786,692760,735756,725800,000699,035

698,298624,939567,556600,000

549,006400,000416,870200,0000FY2008

FY2009

FY2010

FY2011

FY2012

FY2013

FY2014

FY2015

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY202315Description:OveronemillioncommercialvehicleswereproducedinIndiainfiscalyear2023.Thisincludedcommerciallyregisteredpassengerandgoodsvehicles.Incomparisontotheprecedingyear,theproductionvolumeincreaseddrastically.Thedeclinein2020and2021wasduetoplannedtransitiontoBS-VIemissionstandards,excessfreightcapacity,revisedaxleloadnorms,andanoverallslowdownoftheeconomyweresomeofthereasonsforthisindustrywitnessingasharpdecline.

ReadmoreNote(s):India;FY2008toFY2023Source(s):SIAMIndiaSalesvolumeofcommercialvehiclesacrossIndiafromfinancialyear2012to2023(in1,000s)CommercialvehiclessalesvolumeIndiaFY2012-20231,2001,0001,007.31962.47856.928097938006004002000714.08717.6716.57686633615568.56FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY202316Description:Infinancialyear2023,around962thousandunitsofcommercialvehiclesweresoldacrossIndia.Itwasthehighestsince2020.TataMotorsdominatedthemarketwithashareofover42percent.Theoveralleconomicslowdownduetotheimpactofcoronavirus(COVID-19),transitiontoBS-VIemissionstandards,andrevisedaxleloadnormsweresomeofthecontributingfactorsforthetwoconsecutiveyears`declineofsalesvolumeinthissector.

ReadmoreNote(s):India;FY2012toFY2023Source(s):SIAMIndiaNumberofregisteredcommercialvehiclesacrossIndiainfinancialyear2020,bystate(in1,000s)RegisteredcommercialvehiclesIndiaFY2020,bystateRegisteredcommercialvehiclesinthousands1,500

2,000

2,500

3,00005001,0003,5004,0004,5005,000MaharashtraKeralaTamilNaduAndhraPradeshRajasthanUttarPradeshKarnatakaAssamTelanganaOdishaMadhyaPradeshJammu&Kashmir17Description:Attheendoffiscalyear2020,thesouthwesternstateofMaharashtrainIndiahadaround4.8millionregisteredcommercialvehicles.Inthesameyear,around718thousandunitsofcommercialvehiclesweresoldacrossIndia.ThemajorityofcommercialvehiclesinIndiabelongtothelightcommercialvehicle(LCV)segment.ReadmoreNote(s):India;FY2020;Datafromseveralstateswerenotreported.Source(s):MinistryofRoadTransportandHighways(India)ExportvolumeofcommercialvehiclesfromIndiabetweenfinancialyear2015and2023(in1,000s)ExportvolumeofcommercialvehiclesIndiaFY2015-2023120108.27103.1299.9396.8710080604020092.386.9478.6560.3850.33FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY202318Description:Around78thousandcommercialvehicleswereexportedfromIndiainfiscalyear2023.TheIndianautomobileindustryhasbeenthefourthlargestintheworldsince2017.Two-wheelersaccountedforshareofabout75percentinthedomesticindustryduringthesameperiod.ReadmoreNote(s):India;FY2015toFY2023Source(s):SIAMIndiaMarketshareofcommercialvehiclesacrossIndiainfinancialyear2021and2023,bymanufacturerCommercialvehiclemarketshareIndiaFY2021-2023,bymanufacturerTataMotorsVECVForceMotorsMahindra&MahindraMarutiSuzukiIndiaSMLIsuzuAshokLeylandDaimlerIndiaCommercalVehicleOthers120%100%80%60%40%20%0%FY2021FY2022FY202319Description:Infinancialyear2023,TataMotorsdominatedthedomesticcommercialvehiclemarketacrossIndiawithashareofover39percent.Inthatyear,thecompanyhadasalesvolumeofaround368thousandunits.CommercialvehiclessaleshadbeenonaninlineacrossthesouthAsiancountryforafewyears.Frommid-2019however,theautomotiveindustry`sslowdownhasaffectedthesalesandproductionalike.ReadmoreNote(s):India;FY2021andFY2023Source(s):AutocarProfessional;FederationofAutomobileDealersAssociationsCHAPTER

04EicherkeyfiguresNetrevenueofEicherMotorsLimitedformfinancialyear2017to2023(inbillionIndianrupees)EicherMotorsnetrevenueFY2017-2023160140120100144.42102.9897.9791.5389.6487.280604020070.33FY2017FY2018FY2019FY2020FY2021FY2022FY202321Description:EicherMotorsLimitedreportedanetrevenueofover144billionIndianrupeesinfinancialyear2023.Thiswasasignificantincreasecomparedtothepreviousyear.TheIndiantwo-wheelerandcommercialvehiclemanufacturerwastheparentcompanyofRoyalEnfield,andhadajointventurewithSwedishautomotiveplayerVolvounderVECommercialVehicles.ReadmoreNote(s):India;FY2017toFY2023;fromoperationsSource(s):EicherMotorsNetsalesofEicherMotorsLimitedfromfinancialyear2018to2023(inbillionIndianrupees)EicherMotorsIndianetsalesFY2018-2023160140120144.42102.9897.9710080604020091.5489.6587.2FY2018FY2019FY2020FY2021FY2022FY202322Description:Attheendoffiscalyear2023,thenetsalesofEicherMotorsLimitedwasapproximately144billionIndianrupees.Thiswasasignificantincreasefromthepreviousfinancialyear.EicherMotorswasoneoftheleadingmotorcyclesandcommercialvehiclemanufacturersinIndia.ReadmoreNote(s):India;FY2018toFY2023Source(s):HDFCSecuritiesProfitaftertaxofEicherMotorsLimitedfromfinancialyear2017to2023(inbillionIndianrupees)EicherMotorsPAT2017-2023353029.142522.221.82018.2717.1316.771510513.470FY2017FY2018FY2019FY2020FY2021FY2022FY202323Description:Asoffinancialyear2023,theprofitaftertaxofEicherMotorsLimitedwasover29billionIndianrupees.Thisfigurerepresentsanincreasefromthepreviousyear.TheIndiantwo-wheelerandcommercialvehiclemanufacturerwastheparentcompanyofRoyalEnfieldandhadajointventurewithSwedishautomotiveplayerVolvounderVECommercialVehicles.ReadmoreNote(s):India;FY2017toFY2023Source(s):EicherMotorsTotalcurrentassetsofEicherMotorsLimitedfromfinancialyear2019to2023(inbillionIndianrupees)EicherMotorstotalcurrentassetsFY2019-20231009087.45807063.37605040302010054.9844.1534.99FY2019FY2020FY2021FY2022FY202324Description:Attheendoffiscalyear2023,thetotalcurrentassetsofEicherMotorsLimitedinIndiawerewortharound35billionIndianrupees.Thisfigurerepresentsasignificantdecreasecomparedtothepreviousfiscalyear.TheIndiantwo-wheelerandcommercialvehiclemanufacturerwastheparentcompanyofRoyalEnfieldandhadajointventurewithSwedishautomotiveplayerVolvounderVECommercialVehicles.ReadmoreNote(s):India;FY2019toFY2023;standalonefigures.Source(s):EicherMotorsTotaldebtofEicherMotorsLimitedfromfinancialyear2018to2023(inmillionIndianrupees)EicherMotorsnetdebtFY2018-20231,2001,0001,068.91,012.2800632.9583.8600400200083.10FY2018FY2019FY2020FY2021FY2022FY202325/statistics/1062497/india-eicher-motors-total-debtAttheendoffiscalyear2023,thetotaldebtofEicherMotorsLimitedinIndiawasoveronemillionIndianrupees.EMListheparentcompanyoftheworld`sleadingmid-sizedmotorcycles,theRoyalEnfield,whichwassoldacross50countriesglobally.

ReadmoreNote(s):India;FY2018toFY2023Source(s):EicherMotors;HDFCSecuritiesRoyalEnfieldexportvolumefromIndiafromfinancial2019to2023(in1,000units)RoyalEnfieldexportvolumeIndiaFY2019-202310090807060504089.2374.2438.6235.683020.8320100FY2019FY2020FY2021FY2022FY202326Description:Attheendoffiscalyear2023,EicherMotorsLimitedhadexportedapproximately89.2thousandRoyalEnfieldmotorcyclesfromIndia.Thiswasaslightincreaseincomparisonwiththepreviousyear.Asofdate,RoyalEnfieldmotorcycles,ownedbyEicherMotorsLimited,operatedinover60countriesacrosstheglobe.ReadmoreNote(s):India;FY2019toFY2023Source(s):EicherMotorsCHAPTER

05CompetitorsNumberofvehiclessoldbyHeroMotoCorpLimitedfromfinancialyear2015to2023(inmillions)HeroMotoCorpsalesvolumeFY2015-2023987.87.6765432106.66.66.66.45.85.34.9FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY202328/statistics/785579/india-sales-volume-of-hero-motocorp-limitedInfinancialyear2023,thenumberofvehiclessoldbyHeroMotoCorpLimitedacrossIndiawasmorethanfivemillion.In2022,thesalesvolumewasthelowestat4.9million.HeroMotoCorpisthelargesttwo-wheelermanufactureracrossIndia.

ReadmoreNote(s):India;FY2015toFY2023Source(s):HeroMotoCorpTotalincomeofTVSMotorCompanyLimitedfromfinancialyear2016to2023(inbillionIndianrupees)TVSMotorCompanytotalincomeFY2016-2023300250200264.79208.1182.17167.84164.55156.18150133.63121.95100500FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY202329Description:ThetotalincomeofTVSMotorCompanyLimitedwasaround265billionIndianrupeesinfiscalyear2023.Itwasanincreasecomparedtothepreviousyear.In2020,thetotalincomeofthecompanysawadecrease.Thecompanymanufacturedautomotivevehiclesandparts,anditisoneofthebiggesttwowheelermanufacturersinIndia.ReadmoreNote(s):India;FY2016toFY2023Source(s):TVSMotorCompanySalesvolumeofAshokLeylandvehiclesfromfinancialyear2012to2023(in1,000s)SalesvolumeofAshokLeylandvehiclesFY2012-2023250200150197.34192.21174.87145.07140.46128.33125.2114.61101.99104.9100.7394.1110050089.3463.93FY2010FY2011FY2012FY2013FY2014FY2015FY2016FY2017

FY2018*

FY2019FY2020FY2021FY2022FY202330Description:Attheendoffiscalyear2023,AshokLeylandsoldover192thousandvehicles.Itwasasignificantincreaseincomparisonwiththepreviousyear.In2020and2021,thecompanysawhugedecease.OneofthereasonsforthedipinsalesvolumewasthelockdownsimposedduringtheCOVID-19pandemic.AshokLeylandistheflagshipcompanyoftheHindujaGroup,anIndianconglomeratebasedinMumbaithatdealswitharange