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May 2, 2024

Two-Wheeler Giants Experience Surging Domestic Sales in April

In a remarkable surge, domestic sales for four major two-wheeler manufacturers in India witnessed a significant jump in April, fueled by robust demand. Hero MotoCorp, Honda Motorcycle & Scooter India, TVS Motor, and Bajaj Auto, collectively holding approximately 80 per cent of the country’s two-wheeler market, reported substantial growth compared to the same month last year.

Hero MotoCorp, the nation’s largest two-wheeler maker, recorded a remarkable 32.9 per cent year-on-year increase, with domestic sales reaching 513,296 units in April. Meanwhile, Honda Motorcycle & Scooter India saw its domestic sales surge by an impressive 42.2 per cent, totaling 481,046 units for the month.

This surge in sales contrasts starkly with the performance of passenger vehicle makers, who experienced modest growth of less than two per cent during the same period. The strong performance of the two-wheeler segment can be attributed to various factors, including regional festivals and the wedding season, which boosted domestic demand.

According to D. K. Mudaraddi, a research analyst at Stoxbox, all two-wheeler original equipment manufacturers (OEMs) reported double-digit growth. Mudaraddi noted that despite healthy stock levels of 40-45 days and minimal discounts, the two-wheeler segment showcased robust demand. The postponement of regional festivals like Gudi Padwa in western states and Chaitra Navratri in northern and central states slightly impacted the comparability of the sales figures.

Furthermore, the market has seen a positive response to new launches in the 125cc and premium segments from various OEMs. These new offerings have contributed to sustaining the growth momentum in the market, indicating a favorable reception from consumers.

The dominance of the four major players—Hero MotoCorp, Honda Motorcycle & Scooter India, TVS Motor, and Bajaj Auto—reflects their stronghold on the Indian two-wheeler market. Their combined efforts have not only bolstered the overall sales but also propelled the industry forward amidst challenging times.

Looking ahead, industry experts anticipate continued growth in the two-wheeler segment, driven by factors such as urbanization, increased disposable income, and the growing preference for personal mobility solutions. The resilience shown by the industry amid uncertainties underscores its importance in the Indian economy.

In conclusion, the significant jump in domestic sales for major two-wheeler manufacturers in April highlights the sector’s resilience and potential for growth. With robust demand, new launches, and market dominance, the industry is poised for further expansion in the coming months.

Jhumpa Lahiri

Jhumpa Lahiri

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