As the festive season approaches, major two-wheeler manufacturers in India saw a double-digit increase in domestic sales in September as they prepared for the festive season. Bajaj Auto, Hero MotoCorp, Honda Motorcycle & Scooter India (HMSI), and TVS Motor Company all recorded sales increases ranging from 9 to 28 per cent, driven by strong domestic demand and upbeat market sentiment.
The first half of FY25 (H1FY25) sales for two-wheelers is also showing high single-digit to double-digit growth for most players, riding on positive sentiments in rural markets due to good monsoons.
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Bajaj Auto’s two-wheeler segment reported a 28 per cent jump in domestic sales, with 2,59,333 units sold in September 2024 compared to 2,02,510 units in the same month last year, contributing to a total of 4,00,489 units sold—a 22 per cent increase overall. In H1FY25, domestic sales reflected this upward trend, with a 16 per cent rise in two-wheeler sales compared to the same period in 2023.
Hero MotoCorp, the world’s largest motorcycle manufacturer, saw its domestic sales increase by 18 per cent in September, reaching 6,16,706 units. In H1FY25, Hero MotoCorp’s domestic sales increased by 9.68 per cent, reaching 29,40,666 units.
Hero MotoCorp is gearing up for the festive season by banking on high demand across its 100cc, 125cc, and premium segments. The company expects positive market sentiment, on the back of a good monsoon, to fuel stronger retail sales in October.
Honda Motorcycle and Scooter India (HMSI) registered a 9 per cent increase in domestic sales, with 5,36,391 units sold in September. TVS Motor Company hit a new milestone, registering a 23 per cent increase in domestic sales, reaching 3,69,138 units, while the company’s electric vehicle (EV) sales also saw a 42 per cent growth.
Speaking on the performance, Anurag Singh, managing director of Primus Partners, noted that despite the industry’s positive momentum in September, the real test will come in October when retail sales take off.
“The manufacturers are upbeat, driven by strong sales growth and a positive economic outlook. However, they may have placed too much stock at dealers ahead of the festive season. We will have to wait and see if inventory levels rise, which could lead to aggressive promotional schemes to boost retail sales,” Singh said.
Hero MotoCorp’s exports increased by 21 per cent, while HMSI recorded a 34 per cent rise in overseas sales. TVS Motor saw an 11 per cent boost in exports, fuelled by strong international demand for its two-wheelers, and Bajaj Auto’s exports also climbed by 13 per cent.
First Published: Oct 02 2024 | 6:08 PM IST
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