Smart recovery in the domestic market has brought smiles back to the Indian two-wheeler market. Vehicle dispatches in April 2024 for Hero MotoCorp, Honda, TVS Motor Company, Bajaj Auto, Suzuki, and Royal Enfield are the best monthly figures this year and are poised for a strong CY2024.
The top six motorcycle and scooter manufacturers have reported improving domestic market volumes and strong double-digit year-on-year growth in April 2024. Combined sales of the top six at 1.67 million units in the first month of FY2024 is a smart 31% increase from 1.27 million units in April 2023.
Domestic Sales Of Two-Wheelers in India in April 2024
In the domestic markets, total two-wheeler sales of these 6 leading OEMs grew by 31.40% YoY and 18.59% MoM to 16,75,846 units 12,75,397 units were sold in April 2023 and 14,13,152 in March 2024. Considering year-on-year sales, this was a huge increase of 4,00,449 units. Hero MotoCorp tops the domestic sales list with 5,13,296 units sold last month, achieving a 30.63% share with 31.91% YoY and 11.77% MoM growth.
Honda’s two-wheeler sales in April 2024 went up 42.20% year over year and 34.31% on a MoM basis to 4,81,046 units. There were 3,38,289 units and 3,58,151 units sold in April 2023 and March 2024 respectively. Honda Activa scooter is one of the key sellers in the company portfolio along with CB Shine and Dio.
TVS Motor sales increased by 29.40% to 3,01,449 units in April 2024. In contrast, its MoM sales were 15.71% higher than the 2,60,532 units sold in March 2024. The company currently holds a 17.99% stake in the list. Bajaj Auto (2,16,950 units), Suzuki (88,067 units), and Royal Enfield (75,038 units) have reported excellent year-on-year growth in sales in April 2024. While it was once again spectacular against its more powerful models, the RE 350 cc range suffered a decline in sales.
Two-wheeler Sales 2024
| Brands | Apr- 24 | Apr- 23 | Diff. | Growth % YOY |
|---|---|---|---|---|
| Hero | 5,13,296 | 3,86,184 | 1,27,112 | 32.91 |
| Honda | 4,81,046 | 3,38,289 | 1,42,757 | 42.20 |
| TVS | 3,01,449 | 2,32,956 | 68,493 | 29.40 |
| Bajaj | 2,16,950 | 1,81,828 | 35,122 | 19.32 |
| Suzuki | 88,067 | 67,259 | 20,808 | 30.94 |
| Royal Enfield | 75,038 | 68,881 | 6,157 | 8.94 |
| Total | 16,75,846 | 12,75,397 | 4,00,449 | 31.40 |
| Brands | Apr- 24 | Mar- 24 | Diff. | Growth % MOM |
|---|---|---|---|---|
| Hero | 5,13,296 | 5,59,257 | 54,039 | 11.77 |
| Honda | 4,81,046 | 3,58,151 | 1,22,895 | 34.31 |
| TVS | 3,01,449 | 2,69,532 | 40,917 | 15.71 |
| Bajaj | 2,16,950 | 1,83, 004 | 33,946 | 18.55 |
| Suzuki | 88,067 | 86,164 | 1,903 | 2.21 |
| Royal Enfield | 75,038 | 66,044 | 8,994 | 13.62 |
| Total | 16,75,846 | 14,13,152 | 2,62,694 | 18.59 |
Data Source: Rushlane
Two-Wheelers Sales April 2024 – Honda beats Hero MotoCorp
Honda remained ahead of Hero MotoCorp with total sales of 5,41,946 units as against Hero’s 5,33,585 units last month. TVS’ total sales stood at 3,74,592 units with year-on-year and month-on-month growth, while Bajaj Auto’s sales stood at 3,41,789 units. After this, Suzuki sold 99,377 units and Royal Enfield Bikes sold 81,870. Thus, total sales of these 6 two-wheeler manufacturers stood at 19,73,159 units last month, which is 30.20% higher than 15,15,492 units sold in April 2023.
