Honda saw its domestic sales surpass that of Hero MotoCorp by 91,783 units making it the No. 1 two wheeler maker in India in July 2024
In July 2024, two wheeler majors in India, Honda, Hero, TVS, Bajaj, Suzuki and Royal Enfield displayed mixed performance. Sales in domestic markets improved significantly while MoM sales suffered severe decline. Exports on the other hand ended more positively both on YoY and MoM. Two wheeler sales of the 6 leading automakers grew by 13.77% YoY while it suffered an 11.17% MoM decline. Sales which had stood at 12,05,662 units in July 2023, improved by 1,66,058 units to 13,71,720 units in July 2024.
Two Wheeler Sales July 2024 – Honda at No. 1 on Domestic List
Honda Motorcycle & Scooter India achieved 41.26% YoY growth in July 2024, with 4,39,118 units sold. This was a significant improvement over 3,10,867 units sold in July 2023. Honda currently commands a 32.01% share on this list. It is for the first time that Honda has surpassed Hero in the domestic market in terms of monthly sales. MoM sales on the other hand dipped by 9.01% over 4,82,597 units sold in June 2024.
Hero MotoCorp has faced a YoY dip in domestic sales by 6.43% to 3,47,335 units in July 2024. This was a notable 23,869 unit volume decline over 3,71,204 units sold in July 2023. Hero MotoCorp also suffered a MoM decline by 29.32% when compared to 4,91,416 unit sales in June 2024. TVS Motor retained its No. 3 position with 2,54,250 unit sales last month, up 8.09% over 2,35,230 units sold in July 2023 to command an 18.54% share on this list. Its MoM performance saw a very marginal decline by 0.58% down by 1,484 units.
Up next was Bajaj Auto with an 18.91% YoY growth in domestic sales to 1,68,847 units last month, from 1,41,990 units sold in the same month last year. Suzuki motorcycle’s sales crossed 1 lakh units for the first time in domestic market in July 2024. Suzuki sales showed off a remarkable 25.27% YoY growth to 1,00,602 units and it was the only automaker on this list to show off a MoM growth by as much as 41.52%. Royal Enfield YoY sales dipped by 6.80% to 61,568 units in the past month while MoM sales also continued in the red by 6.88% from 66,117 units sold in June 2024.
Two Wheeler Exports July 2024
On the export front, the 6 leading two wheeler makers in India saw positive response both on a YoY and MoM basis. Sales grew by 5.93% YoY to 3,03,010 units, up from 2,86,058 units sold in July 2023. MoM sales were up 14.20% when compared to 2,65,332 units shipped in June 2024. Bajaj Auto leads in terms of exports with 1,28,694 units sold last month relating to a 1.45% YoY growth along with a 1.78% MoM improvement. Bajaj Auto currently commands a 42.47% share on this export list and was the only automaker to surpass exports above the 1 lakh unit mark.
TVS Motor exports improved by 10.83% YoY and 28.59% MoM to 85,426 units while exports of Honda surged 60.27% on a YoY basis to 43,982 units. There had been 27,443 units exported in July 2023. MoM exports also improved in double digits by 21.49% over 36,202 units shipped in June 2024. Featuring at no. 4 on the export list, Hero MotoCorp showed off a 13.10% YoY improvement in exports to 22,739 units while the company excelled in terms of MoM performance with an 88.99% growth from 12,032 units sold in June 2024. Suzuki (16,112 units) and Enfield (6,057 units) each suffered YoY and MoM decline in exports.
Two Wheeler Total Sales July 2024
Total sales saw a 12.27% YoY growth but a 7.45% decline on a MoM basis to 16,74,730 units. With a marked increase in domestic sales, Honda featured at No. 1 in total sales (domestic + exports) in July 2024. Sales stood at 4,83,100 units last month, a 42.80% YoY growth but a 6.88% MoM decline to command a 28.85% share on this list.
At No. 2 was Hero MotoCorp that showed off both YoY and MoM decline in total sales to 3,70,074 units. Share also dipped from 27.82% held in June 2024 to 22.10% last month. With a YoY and MoM improvement in sales, TVS Motor sales stood at 3,39,676 units last month taking up shareholding on this list to 20.28% from 17.80% held in June 2024. Bajaj Auto total sales grew by 10.68% to 2,97,541 units while the company reported a 2.01% MoM decline. Suzuki sales improved by 8.23% YoY and 32.20% MoM to 1,16,714 units while Royal Enfield suffered a 7.51% and 7.54% YoY and MoM de-growth in total sales.
Source: Bike - rushlane.com
