Honda that had emerged as the No.1 two wheeler maker in April 2024 was once again overtaken by Hero MotoCorp in May 2024
Honda Motorcycle and Scooter India (HMSI) has accounted for total sales of 4,92,047 units in May 2024 as against 3,29,393 units sold in the same month last year. This included 4,50,589 units sold in domestic markets while 41,458 units were exported.
Honda 2W Sales May 2024 – YoY performance
This was a 45% YoY growth in domestic sales while exports were higher by an impressive 127%. HMSI has however, reported a MoM decline in sales as the company had seen a total sales figure of 5,41,946 units in April 2024. Hero MotoCorp on the other hand has recorded a 4.11% YoY growth selling 4,98,123 units in the past month whereas the company had sold 5,33,585 units in April 2024 when it was overtaken by HMSI.
Domestic Sales: Honda 2W’s domestic sales soared to 4,50,589 units in May 2024, up from 3,11,144 units in May 2023. This 44.82% increase underscores the company’s strengthened position in the home market, commanding a 91.50% share of total sales for the month.
Export Sales: The export segment saw a remarkable 129.37% surge, with sales rising from 18,249 units in May 2023 to 41,858 units in May 2024. Exports now constitute 8.50% of Honda 2W’s total sales.
Honda 2W Sales May 2024 – MoM performance
Despite the impressive year-on-year figures, Honda 2W’s month-on-month performance reflected a decline. Total sales in May 2024 decreased by 9.13% from April 2024’s figures.
Domestic Sales: The domestic market saw a reduction of 6.33%, with sales dropping from 4,81,046 units in April 2024 to 4,50,589 units in May 2024. This indicates a short-term dip in demand within the local market.
Export Sales: Exports experienced a more pronounced decline, plummeting by 31.27% from 60,900 units in April 2024 to 41,858 units in May 2024. This sharp decrease points to fluctuations in international demand or potential logistical challenges.
Recent Updates
Major sellers in the company portfolio were the Activa scooter along with the Shine 100 while the company has also witnessed impressive sales in the 125cc segment among which are models such as the Shine 125 and SP125. Where the Honda 125cc range consisting of the Shine 125 and SP125 were concerned, buyers in Eastern India in the states of Bihar, Jharkhand, West Bengal, Odisha and North-East India, crossed the 20 lakh unit mark.
In the past month, the company achieved a major milestone in the sales of Shine 100 which has crossed the 3 lakh unit mark in 1 year of launch. It was the innovative colour options, on-board equipment and outstanding mileage of Honda Shine 100 that ranges from 60-65 km/l, which is the highest in its segment, that has found favor among buyers in India.
As a part of the company’s expansion plans, a new R&D Center was opened in Bengaluru, Karnataka to further accelerate the company’s electrification plans in India. A new sales and service Red Wing outlet was also opened in Siliguri, West Bengal and Honda’s latest dealership is its 38th Authorized Main Dealership (AMD) and 277th Red Wing touch point in West Bengal.
Source: Bike - rushlane.com
