India’s 2W market has been an on the rise with many new offerings launched in 2024. However, the month of December 2024 was not kind on sales for OEMs as there are fewer buyers and they are waiting for the new calendar year to start. That said, almost all manufacturers have registered increased sales numbers in Exports across both YoY and MoM analysis.
2W Sales and Exports Dec 2024 – Domestic Sales
In domestic market, the top 6 two-wheeler manufacturers in India faced drop in sales in December 2024. Combined, these six brands sold 10,55,206 units last month, which was not enough to surpass 11,63,617 units and 15,32,048 units sold in Dec 2023 and Nov 2024, respectively. Thus registering a 9.32% YoY and 31.12% MoM declines, losing 1,08,411 units YoY and 4,76,842 units MoM.
The best-seller was Hero MotoCorp, like clockwork, at 2,94,152 units sold in domestic market. There was a 22.15% YoY and 33.11% MoM decline and Hero accounted for 27.88% sales in this list. Honda has closed the gap a lot in comparison to Hero, registering 2,70,919 units with 5.31% YoY and 37.42% MoM decline, losing 15,182 units YoY and 1,61,969 units MoM in volume.
TVS took 3rd place on this list with 2,15,075 units and contributed 20.38% of this sales on this list. TVS saw sales grow by 0.04% YoY and took a dip of 29.53% MoM. Bajaj sold 1,28,335 units in domestic market last month with 18.97% YoY and 36.97% MoM decline as opposed to 1,58,370 units and 2,03,611 units respectively.
Notably, Suzuki is the only brand on this list that fell in the green completely. With 78,834 units sold last month in domestic market, There was a 14.21% YoY and 0.64% MoM growth, gaining 9,809 units YoY and 501 units MoM in volume. With 67,891 units, Royal Enfield registered the highest YoY growth of 18.50% with 10,600 units gained in volume. But sales dropped by 6.02% MoM.
Exports
This is an aspect where most OEMs on this list registered positive results. Overall these 6 OEMs shipped 3,38,048 units with 28.34% YoY and 0.14% MoM growth, gaining 74,655 units YoY and 486 units MoM in volume. Breaking the numbers, we have Bajaj at #1 position with 1,43,838 units shipped and saw 15.41% growth YoY and 12.54% drop MoM. Bajaj contributed to 42.55% exports among these 6 OEMs.
In 2nd place, we have TVS with 96,927 units shipped and fell into the green completely with 29.11% YoY and 11.22% MoM growth. Honda’s export proposition saw 37,164 units shipped with 19.8% YoY growth and 6.77% MoM decline. Hero MotoCorp has been increasing its presence globally. With 30,574 units shipped Hero saw 89.78% YoY and 52.66% MoM growth. Suzuki’s and Royal Enfield’s exports stood at 17,970 and 11,565 units respectively with positive growth across the board.
Total Sales
In total (Domestic + Exports), these six OEMs accounted for a total of 13,93,254 units last month. When compared to the 14,27,010 units from a year ago and 18,69,610 units from a month before, these six OEMs combined, witnessed a 2.37% YoY and 25.48% MoM decline. At the top, we have Hero with 3,24,726 units sold combined and accounted for 23.31% of the total sales on this list.
Hero saw 17.57% YoY and 29.38% MoM decline, losing 69,226 units YoY and 1,35,079 units MoM in volume. Accounting for 22.39% of total sales on this list, we have TVS that has surpassed Honda. TVS saw 7.56% YoY growth and 20.48% MoM decline. Speaking of Honda, the company sold a total of 3,08,083 units with 2.85% YoY and 34.83% MoM declines.
Bajaj took fourth place on this list with 2,72,173 units sold and saw 3.83% YoY and 26.06% MoM decline. With 96,804 units sold, Suzuki was the only one to register positive growth in total sales of 21.79% YoY and 2.58% MoM. Royal Enfield saw 25.37% YoY growth with 79,466 units sold in total. MoM sales saw a decline of a mere 3.39%.
Source: Bike - rushlane.com
