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July 2024 Sees Honda Lead In Indian Two-Wheeler Market
Honda Motorcycle & Scooter India achieved a significant milestone in July 2024, surpassing Hero MotoCorp in domestic sales by 91,783 units. This achievement made Honda the top two-wheeler manufacturer in India for the month.
The company's domestic sales saw a 41.26% year-on-year (YoY) growth, with 4,39,118 units sold compared to 3,10,867 units in July 2023. However, month-on-month (MoM) sales dipped by 9.01% from June 2024's figure of 4,82,597 units.
| Rank | Top 2Wheelers | June'24 | June'23 | Growth (%) YoY |
| 1 | Hero Splendor | 3,05,586 | 2,38,586 | 28.21 |
| 2 | Honda Activa | 2,33,376 | 1,30,830 | 78.38 |
| 3 | Honda Shine | 1,39,587 | 99,254 | 40.64 |
| 4 | Bajaj Pulsar | 1,11,101 | 1,07,208 | 3.63 |
| 5 | Hero HF Deluxe | 89,941 | 89,275 | 0.75 |
| 6 | TVS Jupiter | 72,100 | 64,252 | 12.21 |
| 7 | Suzuki Access | 52,192 | 39,503 | 32.12 |
| 8 | TVS XL 100 | 40,397 | 34,499 | 17.10 |
| 9 | TVS Apache | 37,162 | 28,127 | 32.12 |
| 10 | Ola S1 | 36,723 | 17,692 | 107.57 |
Two Wheeler Sales July 2024 – Domestic Market
Hero MotoCorp experienced a YoY decline of 6.43% in domestic sales, selling 3,47,335 units in July 2024 compared to 3,71,204 units in July 2023. The company also faced a significant MoM decline of 29.32%, down from June's sales of 4,91,416 units.
TVS Motor retained its third position with an 8.09% YoY increase to 2,54,250 units sold last month from 2,35,230 units in July 2023. Its MoM performance saw a slight dip of 0.58%, decreasing by 1,484 units.
Bajaj Auto reported an impressive YoY growth of 18.91%, selling 1,68,847 units in July compared to last year's figure of 1,41,990 units. Suzuki Motorcycle crossed the one lakh unit mark for the first time in the domestic market with a remarkable YoY growth of 25.27%, reaching sales of 1,00,602 units.
It was also the only automaker on this list to show MoM growth at an impressive rate of 41.52%. Meanwhile, Royal Enfield saw a YoY decline of 6.80%, selling only 61,568 units last month and continuing its downward trend with a MoM decrease of 6.88% from June's figure of 66,117 units.
Two Wheeler Sales July 2024 – Exports Market
The export market showed positive trends for India's leading two-wheeler manufacturers both on YoY and MoM bases. Overall exports grew by 5.93% YoY to reach 3,03,010 units from last year's figure of 2,86,058 units and improved by an impressive MoM rate of 14.20% compared to June's exports of 2,65,332 units.
Bajaj Auto led the export market with sales of 1,28,694 units last month—a modest YoY growth of just over one per cent and a slight MoM improvement as well. Bajaj now holds a commanding share of the export market at over forty-two per cent and is the only automaker to exceed one lakh units of exports.
TVS Motor's exports increased by nearly eleven per cent YoY and almost twenty-nine per cent MoM to reach a total of eighty-five thousand four hundred twenty-six units exported last month.
Honda saw its exports surge by over sixty per cent YoY to forty-three thousand nine hundred eighty-two units from twenty-seven thousand four hundred forty-three in July last year and improved by over twenty-one per cent MoM from thirty-six thousand two hundred two shipped in June.
Total Two Wheeler Sales July – Domestic + Exports
Total two-wheeler sales for the six leading manufacturers grew by twelve-point-two-seven per cent YoY but declined by seven-point-four-five per cent MoM to sixteen lakh seventy-four thousand seven hundred thirty units overall.
Honda topped the total sales chart (domestic + exports) with four lakh eighty-three thousand one hundred units sold last month—a forty-two-point-eight per cent YoY growth but a six-point-eight-eight per cent MoM decline—commanding nearly twenty-nine per cent share on this list.
Hero MotoCorp ranked second despite showing declines both YoY and MoM with total sales dropping to three lakh seventy thousand seventy-four units and its share dipping from twenty-seven-point-eight-two per cent held in June to just over twenty-two per cent last month.
TVS Motor showed improvements both YoY and MoM with total sales reaching three lakh thirty-nine thousand six hundred seventy-six units last month—taking up over twenty-percent shareholding on this list up from seventeen-point-eight held in June.
Bajaj Auto's total sales grew ten-point-six-eight percent YoY but reported a slight two-percent MoM decline while Suzuki showed eight-point-two-three percent YoY improvement and thirty-two-percent MoM growth reaching one lakh sixteen thousand seven hundred fourteen total sales.
Royal Enfield suffered declines both YoY at seven-and-a-half per cent and MoM at seven-and-a-half-four per cent de-growth in total sales figures for July.
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