Ever since the Hero Honda JV ended, both brands have competed against each other in the Indian market. Hero MotoCorp has always posted significantly higher sales figures as opposed to Honda. But this sales gap has been closing down every year. And in CY24, Honda has reduced the gap considerably. The yearly sales volume difference between Hero and Honda is at an all time low at 1,09,567 units.
Hero Vs Honda Sales CY24
Both brands have not been able to tackle each other at their core strengths. Which for Hero is budget commuter motorcycles and it is commuter scooters for Honda. Where sales are concerned, Hero MotoCorp has always had an upper hand with the ever-green Splendor. The company has been striving hard to revamp its premium motorcycle range too.
Honda, on the other hand, has sold less units than Hero, where CY sales are concerned. The company has remarkably reduced the volume gap from Hero to an all time low at just 1,09,567 units in CY24. This is a remarkable achievement from Honda as the company continues to push into commuter motorcycle market while maintaining an iron hand in scooter segment.
What do the numbers say?
Looking at sales performance of both brands in CY24, we can see that Hero MotoCorp did maintain an upper hand as it sold 56,57,446 units in domestic market and 2,53,619 units in exports leading to 59,11,065 units pushed in total. When compared to 54,99,524 units from CY23, Hero registered a 7.48% YoY growth, gaining 4,11,541 units in volume.
At the same time, Honda Motorcycles and Scooters India sold 52,92,976 units in domestic market and 5,08,522 units in exports, leading to a total of 58,01,498 units. When compared to the 43,84,559 unit sold in CY23, Honda registered a significant YoY growth of 32.32% YoY, gaining 14,16,939 units in volume YoY. This massive growth YoY in CY sales has bridged the gap from Hero considerably.
In CY23, Hero’s total sales of 54,99,924 units and Honda’s 43,84,559 units yielded a volume difference of 11,14,965 units between both brands. However, in CY24, the volume difference between both brands is only 1,09,567 units, which is an all time low.
This suggests that Honda is rapidly gaining market share and increasing its presence in commuter motorcycle segment, while still maintaining upper hand in scooter segment. On the other hand, Hero MotoCorp is prepping to up its game in scooter segment with soon to launch new-gen Destini 125. Hero is also betting big on premium products with Xtreme 250R and Xoom 160 launching soon.
Source: Bike - rushlane.com
