Hero MotoCorp leads Indian two-wheeler sales in January 2024
In January 2024, India's two-wheeler market saw a significant boost in sales. The six leading manufacturers experienced growth on both month-on-month (MoM) and year-on-year (YoY) basis. This comes after a sluggish December 2023, as companies like Hero MotoCorp, Bajaj Auto, Suzuki, Honda Motorcycle & Scooter India (HMSI), TVS Motor Company, and Royal Enfield all reported increased sales figures.
What about Hero MotoCorp?
Hero MotoCorp led the pack, selling 4,20,934 two-wheelers in January 2024. This marks an 11.40% increase from the previous month, and a 20.46% rise in comparison to January 2023. The company's recent entry into the premium bike segment with the Mavrick 440, is expected to strengthen its position even more.
Honda, TVS, and Suzuki's performances were impressive
Other manufacturers like Honda and TVS also posted impressive growth rates of 33.57% and 24.77% respectively, compared to December 2023. For the first time, Suzuki surpassed the 80,000-unit mark in one month, with a 16.64% increase over December 2023, and a 21.60% rise compared to January 2023. The company recently showcased its middleweight offerings, the GSX-8R sports bike, and the V-Strom 800DE adventure tourer, at the Bharat Mobility Global Expo 2024.
How did Bajaj and Royal Enfield fare?
Last month, Bajaj sold 1,93,350 units. This is a 22% rise in comparison to its December 2023 figure of 1,58,370 units. There was also a 35.81% increase over the sales figure for January 2023 (1,42,368 units). Meanwhile, Royal Enfield reported a 23.15% increase compared to December 2023, and a modest 4.22% uptick compared to January 2023.
