Hero MotoCorp leads Indian two-wheeler sales in January 2024
What's the story
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.
Brand #1
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.
Brand #2, #3, #4
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.
Brand #5, #6
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.