Two-wheeler retail sales fell 7.29% month-on-month due to weather factors, which not only hit consumer confidence but also caused logistics problems.
According to the Federation of Indian Automobile Dealers Association (FADA), two-wheeler sales in India grew 6.28% year-on-year to 13,38,237 units in August 2024. However, adverse weather conditions in the country, which led to widespread rains and flooding, affected the monthly sales, which declined by 7.29% from 14,43,463 units sold in July 2024. Upcoming model launches, the upcoming festive season, and increased inventory availability are likely to result in a better performance in the coming month.
Retail sales in August 2024 increased year-on-year
Hero MotoCorp topped the list and currently commands 26.80% market share with sales of 3,58,616 units. This is a growth of 3,48,613 units compared to August 2023. The upcoming launch of Hero Destini is likely to boost sales in the coming months.
Honda’s two-wheeler retail sales also improved to 3,52,605 units last month from 3,11,026 units in August 2023. Hero MotoCorp and Honda currently have a combined market share of 53.15%, which rises to 71% if the third largest two-wheeler manufacturer TVS Motor is also factored in. TVS Motor’s sales rose year-on-year to 2,36,597 units, up from 2,25,567 units in the same period last year.
It was followed by Bajaj Auto, which sold 1,49,031 units last month, a slight increase of 515 units from the 1,48,516 units sold in August 2023. Bajaj Auto has seen a high demand for its Chetak electric scooter, with its sales increasing threefold in the last 12 months.
Suzuki’s retail sales also rose year-on-year to 79,307 units last month from 69,492 units in August 2023. However, Royal Enfield suffered a year-on-year setback, with sales falling to 54,810 units from 59,612 units in the same period last year. Yamaha Motor India’s sales improved from 49,937 units in August 2023 to 51,996 units last month.
Ola’s retail sales grew year-on-year
In the electric two-wheeler segment, Ola Electric sold 27,517 units last month. This is a significant increase from the 18,750 units sold in August 2023. Ola has launched its new Roadster EV range. It is expected to be launched next year.
Ather Energy’s retail sales also improved, with 10,830 units sold in August 2024. This was higher than the 7,157 units sold in August 2023. However, Greaves Ampere (2,816 units), Piaggio (2,712 units) and Classic Legends Jawa/Yezdi (2,058 units) saw a year-on-year decline in retail sales.
There are other OEMs on the 2W retail sales list in August 2024. They also include electric two-wheeler manufacturers, which together contributed 9,342 units to the total retail sales. However, this is a significant drop compared to the 12,165 units sold in August 2023.
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