Honda two wheeler sales improved YoY and MoM while it overtook that of Hero MotoCorp in Q3 and on a YTD basis
In Sept 2024, HMSI saw outstanding sales both on a year-on-year (YoY) and month-on-month (MoM) basis. Sales in the domestic markets were its strong hold with a 91.91% share. Exports, on the other hand, accounted for 8.09%.
Honda 2W Sales Sept 2024 YoY Vs MoM
HMSI total sales (domestic + exports) in Sept 2024 stood at 5,83,633 units. This was a 10.75% growth over 5,26,998 units sold in Sept 2023 and related to a volume growth of 56,635 units. MoM sales also improved by 8.31% over 5,38,852 units sold in August 2024 which was a 44,781 unit improvement in volumes.
The company sold 5,36,391 units in domestic markets, marking a 9.07% YoY growth. This was a 44,589 unit growth over 4,91,802 units sold in Sept 2023. Exports saw a significantly higher growth rate at 34.23% on a YoY basis with 47,242 units shipped in the past month. This was well over 12,046 units from 35,196 units exported in Sept 2023 as the company taps newer markets, contributing to overall growth.
MoM sales also saw positive results both in terms of domestic sales and exports. Domestic sales were up 9.09% over 4,91,678 units sold in August 2024. Exports grew only marginally by 0.14% from 47,174 units shipped in August 2024.
Honda 2W – Q3 2024 and YTD Sales Growth
HMSI has done exceedingly well in terms of Q3 2024 and YTD sales, scaling over sales of Hero MotoCorp on both counts. Total sales (domestic + exports) in Q3 2024 stood at 16,05,585 units, up by 19.56% over 13,42,898 units sold in the same period of 2023.
This was a volume growth of 2,62,687 units. Domestic sales were up by 17.01% to 14,67,187 units in Sept 2024, a 2,13,318 unit volume increase from 12,53,869 units sold in Q3 2023. Exports also grew by 55.45% to 1,38,398 units in Q3 2024 over 89,029 units shipped in Q3 2023.
On a YTD basis, sales during the period April to Sept 2024 grew by 30.48% to 31,58,377 units. This was a 7,37,838 unit volume growth from 24,20,539 units sold in the same period of 2023. Domestic sales grew by 28.25% to 28,81,419 units in the April to Sept 2024 period over 22,46,660 units sold in the same 6 month period of the previous year. Exports also showed outstanding growth by 59.28% to 2,76,958 units, up from 1,73,879 units shipped in the April-Sept 2023 period.
Even as HMSI YoY and MoM sales have been lower as compared to that of arch rival Hero MotoCorp, with these improved Q3 2024 and YTD sales figures, Honda has scored over Hero MotoCorp by significant numbers. HMSI outsold Hero MotoCorp by 85,901 units during the Q3 2024 period. YTD sales of HMSI were also higher than that of Hero MotoCorp by 1,03,537 units.
Source: Bike - rushlane.com
