Two wheeler retail sales declined by 7.29% on a MoM basis due to weather related challenges that not only dampened consumer sentiment but also caused logistical issues
Two wheeler sales in India, as reported by Federation of Automobile Dealers Associations (FADA), showed a 6.28% YoY growth to 13,38,237 units in August 2024. However, adverse weather condition in the country, that caused widespread rains and flooding, affected MoM sales which fell by 7.29% from 14,43,463 units sold in July 2024. Upcoming launches, the upcoming festive season and improved stock availability could see better performance in the month ahead.
2W Retail Sales August 2024 YoY Growth
Hero MotoCorp was at No. 1 on this list, currently commanding a 26.80% market share with sales at 3,58,616 units. This was a growth of over 3,48,613 units sold in August 2023. The upcoming Hero Destini could boost sales in the months ahead.
Honda two wheeler retail sales too improved to 3,52,605 units in the past month from 3,11,026 units sold in August 2023. Together Hero MotoCorp and Honda currently hold a combined 53.15% market share which goes upto 71% when taking the 3rd largest two wheeler maker, TVS Motor also into account. TVS Motor sales improved to 2,36,597 units over 2,25,567 units on a YoY basis.
Next on this list was Bajaj Auto with 1,49,031 units sold in the past month, a marginal improvement of just 515 units over 1,48,516 units sold in August 2023. Bajaj Auto has seen outstanding demand for the Chetak e-scooter, sales of which increased three-fold over the past 12 months.
Suzuki also saw a YoY improvement in retail sales to 79,307 units last month from 69,492 units sold in August 2023. However, Royal Enfield suffered a YoY setback with sales down to 54,810 units over 59,612 units sold in the same month last year. India Yamaha Motors sales improved to 51,996 units in the past month from 49,937 units sold in August 2023.
Ola Retail Sales Post YoY Growth
In the electric two wheeler segment, it was Ola Electric that accounted for sales of 27,517 units last month. This was a marked improvement over 18,750 units sold in August 2023. Ola unveiled the new Roadster EV lineup. Launch is expected next year.
Ather Energy also showed improvement in retail sales to 10,830 units sold in August 2024. This was over 7,157 units sold in August 2023. However, Greaves Ampere (2,816 units), Piaggio (2,712 units) and Classic Legends Jawa / Yezdi (2,058 units) suffered a YoY decline in retail sales figures.
There were other OEMs on this 2W retail sales list for August 2024. These also included electric two wheeler manufacturers who together contributed 9,342 units to total retail sales. However, this was a marked decline from 12,165 units sold in August 2023.
Source: Bike - rushlane.com
