Published at February 13, 2024 by BikeJunction
FADA (Federation of Automobile Dealers Associations) has announced its January 2024 sales report that registered a YoY increase of 14.96% and an MoM increase of 0.63%.
| Category | Jan 2024 | Jan 2023 | YoY % | December 2023 | MoM % |
| 2-Wheeler | 14,58,849 | 12,68,990 | 14.96% | 14,49,693 | 0.63% |
In January 2024, the industry clocked in a total sales volume of 14,58,849 units, whereas in January 2023, the industry saw sales of 12,68,990 units. This resulted in a 14.96% increase in YoY growth. However, a 0.63% increase in MoM sales is seen as in December 2023, sales figures were 14,49,693 units.
| FADA Sales Report | Jan'24 | Jan'23 | YOY % Growth | |||
| Two-Wheeler OEM | Sales Unit | Market Share | Sales Unit | Market Share | Sales Unit | Market Share |
| Hero Motocorp Ltd | 410,395 | 28.13% | 371,244 | 29.26% | 10.55% | -3.84% |
| Honda Motorcycle And Scooter India (P) Ltd | 357,088 | 24.48% | 318,817 | 25.12% | 12.00% | -2.57% |
| TVS Motor Company Ltd | 254,238 | 17.43% | 208,731 | 16.45% | 21.80% | 5.95% |
| Bajaj Auto Ltd | 176,836 | 12.12% | 138,912 | 10.95% | 27.30% | 10.73% |
| Suzuki Motorcycle India Pvt Ltd | 75,502 | 5.18% | 59,815 | 4.71% | 26.23% | 9.80% |
| Royal-Enfield (Unit Of Eicher Ltd) | 65,816 | 4.51% | 65,140 | 5.13% | 1.04% | -12.11% |
| India Yamaha Motor Pvt Ltd | 57,805 | 3.96% | 47,451 | 3.74% | 21.82% | 5.97% |
| Ola Electric Technologies Pvt Ltd | 32,252 | 2.21% | 18,353 | 1.45% | 75.73% | 52.86% |
| Ather Energy Pvt Ltd | 9,247 | 0.63% | 9,227 | 0.73% | 0.22% | -12.83% |
| Piaggio Vehicles Pvt Ltd | 3,139 | 0.19% | 3,129 | 0.25% | -10.26% | -21.94% |
| Classic Legends Pvt Ltd | 2,808 | 0.16% | 3,641 | 0.29% | - | -43.81% |
| Greaves Electric Mobility Pvt Ltd | 2,352 | 0.16% | 87 | 0.01% | 2603.45% | 2251.61% |
| BGAUSS Auto Private Limited | 1,485 | 0.10% | 716 | 0.06% | 107.40% | 80.41% |
| Others Including Ev | 9,886 | 0.68% | 23,727 | 1.87% | -58.33% | -63.76% |
| Total | 1,458,849 | 1,268,990 | ||||
Hero MotoCorp LTD, yet again, took the crown of selling the highest number of 2-wheelers in January 2024. The manufacturer reported a total sales volume of 3,71,244 units last month. However, as compared to last year’s same month, the company sold 4,10,395 units, translating into a YOY sales rise of 10.55%. The company also experienced a decline in its market share by 3.84%.
Honda Motorcycle and Scooter India took the next spot, right after Hero MotoCorp. The company experienced a total sales unit of 3,57,088 in January 2024, leading to a 12.00% rise in its YoY sales growth when compared to 3,18,817 sales numbers registered in January 2023. In terms of market share, the company experienced a major fall of 2.57%.
TVS Motor Company Ltd took the 3rd position, registering a total sales unit of 2,54,238 in January 2024, marking a decent YoY growth of 21.80% when compared to sales figures of January 2023, which was 2,08,731. Subsequently, the company also experienced an increase in its market share by 5.59% in January 2024.
In January 2024, Ola Electric, as usual, took the first position in the electric two-wheeler market for selling the highest number of EVs. The company reported total sales figures of 32,252 in January 2024, marking a decent growth of 75.73% when compared to January 2023 sales figures of 18,353 units. Moreover, the company also gained a market share rise of 52.86%.
Ather Energy Pvt Ltd took the next position after Ola Electric by selling 9,247 units in January 2024. For comparison, the company registered sales of 9,227 units in January 2023, reporting an increase of 0.22%. Moreover, on the market share front, the company also experienced a dip of 12.83% this month.
Last but not least, the third position on the list is held by Greaves Electric Mobility Pvt Ltd for January 2024. The company clocked a total sales unit of 2,352 in January 2024, compared to 87 units sold in January 2023. Due to this, the company saw a massive growth of 2603.45% this month. Apart from this, the company also experienced an impressive rise in its market share by 2251.61% for January 2024.
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