2W sales increase 5% to 14,57,539 units in May 2024

New Delhi: The Indian two wheeler sales increased 5% Y-o-Y to 14,57,539 units in May 2024 against 13,94,344 units in May 2023.

Hero MotoCorp led the two-wheeler sales game in May 2024, with 30.42% market share. However, its Y-o-Y sales dropped 17%. The company sold 4,43,381 units in May 2024 against 5,12,124 units sold in April 2024, with a M-o-M drop of 13.5%. Hero MotoCorp, disclosed its future plan of infusing INR 124 crore in its current electric two wheeler associate company, Ather Energy.

As per Government's Vahan Data, Honda Motorcycles and Scooters India (HMSI) showed a growth of 44% Y-o-Y with 3,90,700 units sold in May 2024. Honda had 26.81% market share in May 2024. As per reports, the company has opened two new manufacturing units and is going to work on its new electric two-wheeler by this calendar year end.

Following the list of top performers in May 2024, TVS also recorded 8% growth at 2,51,848 sales in the previous month. TVS has disclosed its new product launch plan by teasing it on Instagram in May which is expected to be from RTR Series. The company has also launched TVS iQube at INR 95,000 in the same month, which might have contributed to the increased sales.

Suzuki sales increased 32% Y-o-Y to 81,746 units in May 2024.

However, some leading two-wheeler companies such as Bajaj, Royal Enfield, and a premium two wheeler maker, BMW Motorrad, saw drop in their sales. Bajaj sales dropped 6% to 1,65,891 units with the current market share holding of 11.38%. Royal Enfield sales dipped 9.6% Y-o-Y to 62,952 units. ETAuto earlier reported that Royal Enfield is not planning to debut in electric motorcycles for this year but it is working on its ethanol blended motorcycle which should be on the roads by September.

The premium motorcycle manufacturer, BMW Motorrad saw a drastic drop in its sales of 28% Y-o-Y with 534 units sold in May 2024.

Yamaha observed 22% growth in its sales with 54,444 units sold last month. Piaggio also recorded 5.8% growth Y-o-Y at 3,025 units sold, and Jawa sold 2,429 units observing 3% Y-o-Y increase in May 2024.

(Source- Vahan Data)

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