Two-wheeler sales September 2024

Overall, the Indian two-wheeler industry experienced strong growth in September 2024, led by Hero, Honda, TVS and Bajaj

The leading two-wheeler brand sold a total of 19,38,193 units as compared to 16,47,192 units in September 2023, a year-on-year growth of 17.67%. This surge is not only a positive indicator of market recovery but also indicates strong month-on-month (MoM) growth, with an increase of 18.56% from August 2024, with 16,34,738 units sold.

Two-wheeler sales in September 2024 – YoY and MoM

Hero Motorcycles continued to maintain its dominance in the domestic two-wheeler segment with sales of 6,16,706 units in September 2024. A year-on-year increase of 24.77%, the brand sold 4,94,270 units in the same period last year. On a month-on-month basis, Hero’s domestic sales increased significantly by 25.28% from 4,92,263 units in August 2024, demonstrating its continued appeal to Indian consumers. Honda followed with sales of 5,36,391 units, a year-on-year growth of 9.07% compared to 4,91,802 units in September 2023. The brand also registered a slight month-on-month growth of 9.09%, up from 4,91,678 units in August 2024.

TVS Motor Company performed well this month, selling 3,69,138 units in September 2024, a year-on-year growth of 22.84% from 3,00,493 units in September 2023. Compared to August sales of 2,89,073 units, this represents an impressive month-on-month growth of 27.70%. In 2024, Bajaj Auto also posted strong figures with domestic sales of 2,59,333 units, compared to 2,02,510 units in September 2023. A year-on-year increase of 28.06%. On a month-on-month basis, Bajaj’s sales increased by 24.31% from 2,08,621 units in August 2024.

Royal Enfield, known for its niche motorcycles, sold 79,362 units in September 2024, a slight increase of 6.87% from 74,261 units in September 2023. The brand’s month-on-month growth was 20.94%, higher than the 65,623 units sold in August 2024. Suzuki, on the other hand, was the only major two-wheeler brand to see a decline, with sales of 77,263 units in September 2024, down 7.86% from 83,856 units in September 2023. On a month-on-month basis, Suzuki also dropped 11.68%, down from 87,480 units in August 2024.

Export performance – year-on-year and month-on-month

In September 2024, India’s two-wheeler exports also showed strong growth. Total two-wheeler exports reached 3,40,970 units, a year-on-year growth of 19.47% as compared to 2,85,414 units in September 2023. Month-on-month exports increased by 10.37%, an increase of 32,048 units from the total export volume of 3,08,922 units in August 2024. Bajaj Auto led the export market with sales of 1,41,156 units, a year-on-year growth of 12.74% and a month-on-month growth of 11.54%. TVS followed closely with shipments of 1,02,654 units, a year-on-year increase of 18.73% and a month-on-month increase of 14.35%.

Honda’s exports also increased significantly, with shipments of 47,242 units, a year-on-year increase of 34.23%. Suzuki performed well with sales of 21,922 units, a year-on-year increase of 55.06% and a month-on-month increase of 26.57%. Hero MotoCorp’s exports in September 2024 were 20,344 units, a slight year-on-year increase of 1.23%, and a similar month-on-month increase.

Total (sales + exports) – year-on-year and month-on-month

The total domestic and export sales of two-wheelers in India reached 22,79,163 units in September 2024, a strong year-on-year growth of 17.93%, as compared to 19,32,606 units in September 2023. On a month-on-month basis (MoM), the total sales volume increased by 17.26%, with an increase of 3,35,503 units compared to August 2024.

Hero MotoCorp led the market with sales of 6,37,050 units, a year-on-year growth of 23.85% and a month-on-month growth of 24.34%. Honda followed closely with sales of 5,83,633 units, a year-on-year increase of 10.75% and a month-on-month increase of 8.31%. TVS sales reached 4,71,792 units, a year-on-year increase of 21.92% and a month-on-month increase of 24.54%. Bajaj also achieved strong growth with sales of 4,00,489 units, a year-on-year growth of 22.21% and a month-on-month growth of 19.49%. Suzuki sold 99,185 vehicles, a slight increase of 1.22% year-on-year and a month-on-month decrease of 5.36%. Royal Enfield sold a total of 87,014 units, a year-on-year increase of 10.73% and a month-on-month increase of 18.18%.