February 2024 Two-Wheeler Sales Report: Top 6 Manufacturers Sales Performance

In January 2024, Hero MotoCorp, the largest two-wheeler maker in the country, saw a remarkable 16.46% year-on-year growth. They sold 4,45,257 units, up from 3,82,317 units in January last year. Honda, in second place, experienced an even more impressive year-on-year growth of 82.31%, selling 4,13,967 units in January 2024 compared to 2,27,064 units in January 2023.

In January 2024, TVS Motor Company maintained a robust position, registering a YoY growth of 20.82%, selling 2,67,502 units. Furthermore, Bajaj Auto, Suzuki, and Royal Enfield significantly contributed to the sector's expansion, recording YoY growth percentages of 41.71%, 58.82%, and 5.39%, respectively. The cumulative domestic two-wheeler sales for January 2024 reached an outstanding 14,48,479 units, showcasing a remarkable 35.62% YoY growth.

Hero MotoCorp maintained its lead with a 5.78% month-on-month growth, selling 4,45,257 units in January 2024, up from 4,20,934 units in December 2023. Honda followed with an 8.22% increase, selling 4,13,967 units in January 2024. TVS saw a slight decline of 0.27%, while Bajaj Auto experienced a more significant drop of 11.80%. Suzuki and Royal Enfield also faced challenges, with declines of 3.47% and 3.73%, respectively, month-on-month.

February 2024 Two-Wheeler Export Updates 

In February 2024, Bajaj Auto topped the export charts with a notable 7.94% year-on-year (YoY) growth, shipping 1,24,157 units. This was compared to 1,15,021 units exported in the same period last year. TVS showed an impressive YoY growth of 97.94%, exporting 90,308 units, a significant increase from 45,624 units in February 2023. Honda secured the third spot, reporting a remarkable 122.49% YoY growth, exporting 44,744 units. Hero MotoCorp and Suzuki also displayed substantial growth percentages of 90.67% and 22.23%, respectively.

In February 2024, two-wheeler exports surged to 3,04,506 units, indicating a remarkable 39.57% YoY growth. Bajaj dominated with a 40.77% share, followed closely by TVS at 29.66%, showcasing their global stronghold. Bajaj Auto sustained momentum with an 8.06% MoM growth, exporting 1,24,157 units, while TVS witnessed a substantial 46.36% MoM growth, exporting 90,308 units. Honda and Hero MotoCorp also demonstrated positive MoM growth, while Suzuki faced a marginal 7.34% decline.

Two Wheeler Total Sales Feb 2024 – Exports + Domestic

In February 2024, Hero MotoCorp experienced a significant year-on-year (YoY) increase, selling 4,68,410 units compared to 3,94,460 units in the corresponding period last year. Meanwhile, Honda achieved remarkable YoY growth of 85.58%, securing the second position with sales totalling 4,58,711 units in February 2024. Additionally, TVS contributed significantly, achieving an impressive 34.00% YoY growth, with total sales amounting to 3,57,810 units.

Bajaj Auto and Suzuki performed well, contributing to the industry's growth with YoY increases of 25.21% and 37.97%, respectively. Royal Enfield also saw positive YoY growth at 6.12%. Total two-wheeler sales for February 2024 reached an impressive 17,52,985 units, marking a significant 36.29% YoY growth. 

Hero MotoCorp led the market with a 26.72% share, closely followed by Honda with 26.17%, showcasing the dominance of these two manufacturers in the industry.

The industry maintained positive momentum month-on-month (MoM). Hero MotoCorp, Honda, and TVS showed growth percentages of 8.03%, 9.37%, and 8.45%, respectively. Bajaj Auto saw a slight decline of 4.40%, while Suzuki and Royal Enfield experienced minor fluctuations.

But before you go, don’t forget to check out the Royal Enfield February 2024 Sales Report, Showcasing A 6.12% YoY Growth!

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