The motorcycle, scooter and moped market witnessed a sizeable 8.51 percent sales decline, to 1.20 million units YoY (September 2023: 1.31 million units) and a 10 percent decline month on month (August 2024: 1.33 million units).
According to the FADA president, two-wheeler sales were impacted by low consumer sentiment, poor inquiries and reduced walk-ins. Seasonal factors like the Shraddh period, Pitrapaksha, and heavy rains further impacted demand, resulting in delayed purchases and a subdued market environment. These numbers are from the VAHAN database, which reports actual vehicle registrations while the numbers we reported yesterday are dispatches from the factory.
The big news is Honda Motorcycle & Scooter India outselling market leader Hero MotoCorp. While Honda sold 3,34,034 units, Hero MotoCorp registered sales of 2,71,465 units. This puts HMSI in the market leadership position for September 2024, with a 27.73 percent share (up from 26.57 percent a year ago) compared to Hero MotoCorp, whose share for the month has dropped to 22.24 percent versus 26.76 percent in September 2023. Nevertheless, with aggressive marketing in the festive season, Hero MotoCorp is expected to achieve strong numbers in October and beyond.
Also See: Honda outsells Hero in retail sales for September 2024
TVS Motor Co, with 2,21,257 units, too, has increased its market share to 18.37 percent from 17.43 percent in September 2023 albeit its sales last month are down 3.54 percent YoY (September 2023: 2,29,381 units). Bajaj Auto, which hit the EV news headlines for its Chetak e-scooter, having outsold TVS Motor Co’s iQube in September, clocked retails of 1,41,668 units last month, down 5.34 percent, YoY.
Also See: Bajaj Chetak outsells the TVS iQube for the first time
Suzuki Motorcycle India sold 74,287 two-wheelers, 450 more than it did a year ago, a performance similar to India Yamaha Motor which, with 50,065 units, sold 426 units more in September 2024. Meanwhile, Royal Enfield with 57,504 units last month saw its retail sales decline 10 percent YoY (September 2023: 64,159 units).
Also See: September 2024 bike, scooter sales: RE outsells Suzuki, as festive season nears