January 2024 sees uptick in new scooter, bike sales

All brands reported both month-on-month as well as year-on-year increases.

Published On Feb 05, 2024 12:05:00 PM

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TVS Ntorq 125 price, scooter, bike sales 2024 January.

The first month of 2024 saw the six major OEMs in the Indian two-wheeler market regain traction over a rather slow December 2023. Read on to see how each company fared.

Hero MotoCorp: 4,20,934 units

With the unveiling of its largest-capacity motorcycle, the Mavrick 440, Hero will enter uncharted territory and compete in the premium segment with a self-branded product. And it will do so from the top of the Indian two-wheeler segment as it reported an 11.40 percent increase over its December 2023 numbers (3,77,842 units). Even compared to its January 2023 sales numbers (3,49,437 units), it reported a 20.46 percent increase.

Honda Motorcycle & Scooter India (HMSI): 3,82,512 units

Continuing to retain its second place in the Indian market, Honda reported a 33.57 percent increase over its December 2023 numbers (2,86,101 units). In a similar vein, it also bettered its January 2023 sales figure of 2,78,143 units by 37.39 percent. Last month, Honda launched the NX500 adventure bike and to read more about that, tap here.

TVS Motor Company: 2,68,233 units

Hosur-based TVS rounds out the podium in the ICE two-wheeler market, with an 24.77 percent increase over its December 2023 number (2,14,988 units). Even when compared to the 2,16,471 units it sold in January 2023, it reported a 23.91 percent increase. On a recent investor call, we learned that the company is gearing up to launch a new electric two-wheeler and to know what it could be, tap here. It bears mentioning that this number doesn’t include sales of TVS’ electric two-wheelers – the iQube e-scooter range and the rather pricey and niche X.

Bajaj Auto: 1,93,350 units

Bajaj reported a 22 percent increase compared to its December 2023 figure of 1,58,370 units and a 35.81 percent increase compared to its sales figure for January 2023 (1,42,368 units). Bajaj will soon launch the updated Pulsar N150 and Pulsar N160 and to read about what’s going to change, tap here. It bears mentioning that Bajaj’s numbers include the sales of its Chetak range of e-scooters.

Also see:

Electric scooter, bike sales January 2024: Ola sells over 30,000 units

Suzuki: 80,511 units

Crossing the 80,000-unit mark in a single month, Suzuki reported a 16.64 percent increase over its December tally of 69,025 units. Even when compared to its January 2023 number of 66,209 units, it reported a 21.60 percent increase. At the recently concluded Bharat Mobility Global Expo 2024, Suzuki showcased its middleweight offerings – the V-Strom 800DE adventure tourer and the GSX-8R sport bike, both of which are based on the same platform.

Royal Enfield: 70,556 units

Compared to the 57,291 units Royal Enfield sold in December 2023, it reported a 23.15 percent increase. And even compared to its January 2023 sales tally of 67,702 units, it reported a small 4.22 percent increase. The company launched the Shotgun 650 and hiked prices of the new Himalayan for the first time last month.

Also see:

Royal Enfield Shotgun 650: Bullseye, or a shot in the dark?

January 2024 sales
	January 2024	December 2023	% change	January 2023	%change
Hero	4,20,934	3,77,842	11.40	3,49,437	20.46
Honda	3,82,512	2,86,101	33.57	2,78,143	37.39
TVS	2,68,233	2,14,988	24.77	2,16,471	23.91
Bajaj	1,93,350	1,58,370	22	1,42,368	35.81
Suzuki	80,511	69,025	16.64	66,209	21.60
Royal Enfield	70,556	57,291	23.15	67,702	4.22