Two-wheeler sales skyrocket in April 2024, Hero and Honda lead
India's two-wheeler industry witnessed a significant sales boost in April 2024, with all major automakers posting double-digit growth. The market was primarily dominated by Hero MotoCorp and Honda, who collectively held nearly 60% of the domestic market share. Their sales showed both year-on-year (YoY) and month-on-month (MoM) growth, contributing to the overall surge in the industry.
Hero MotoCorp and Honda dominate
The six leading OEMs - Hero MotoCorp, Honda, TVS Motor Company, Bajaj Auto, Suzuki, and Royal Enfield, collectively sold 1,675,846 units in the domestic market last month. This marked a significant volume growth of 400,449 units compared to the sales of April 2023. Hero MotoCorp led the pack with a total sale of 513,296 units last month. Following closely was Honda with two-wheeler sales reaching 481,046 units in the same period.
What about other brands?
TVS also reported strong sales in April, selling a total of 301,449 units. This represented a YoY increase of 29.40% and a MoM growth of 15.71%, giving the company a market share of 17.99%. Bajaj Auto (216,950 units), Suzuki (88,067 units), and Royal Enfield (75,038 units) also recorded impressive YoY and MoM rise in sales, during the same period.
April 2024 exports and cumulative sales figures
Despite a slight MoM decrease of 1.31%, the two-wheeler industry saw a YoY increase of 23.83% in exports for April 2024, led by Bajaj Auto with an impressive figure of 124,839 units. In terms of cumulative sales for the same month, Honda outperformed Hero MotoCorp, with total sales reaching 541,946 units compared to Hero's total of 533,585 units. TVS followed with total sales amounting to 374,592 units, while Bajaj Auto reported sales figures at 341,789 units.
