Honda Overtakes Hero MotoCorp for Two-Wheeler Sales Lead in April 2024!
Honda outsold Hero MotoCorp in April 2024, driven by strong domestic sales and exports. This surge is likely due to the popularity of Honda Activa scooters. Hero remains a strong competitor, with their Splendor motorcycle continuing to dominate the domestic market.
CONTENTS: Honda Overtakes Hero MotoCorp
Honda Tops Hero Sales
Details of Honda Motorcycle and Scooter India’s April 2024 Vita two-wheeler models have been unveiled. In a notable development, Honda Motorcycles has surpassed Hero MotoCorp to become the market leader in overall sales for April 2024, driven by substantial growth in both domestic and export markets.
Activa Scooters Fuel Honda’s Rise
The hero and the monster, traditional protagonists in tales, have now been replaced by two iconic brands in the market. Despite fierce competition after their merger, Hero MotoCorp managed to maintain its lead over Honda Motorcycles, which stood in second place for a considerable period.
The pivotal factor contributing to Honda’s significant growth in the Indian market can be attributed to the popularity of their Honda Active Scooters, which have recently revolutionized the scooter segment in India.
Honda’s India Sales Boom
In addition to their top-selling scooters, Honda also offers a range of affordably priced bikes such as the Shine, which contribute significantly to their sales volume. In April 2024, a total of 541,946 two-wheelers were sold in India, marking an increase of 167,199 units compared to April 2023.
This translates to a remarkable annual growth rate of 45%. Out of these, 481,046 units were sold domestically, highlighting the substantial reliance of Honda’s business in India on domestic sales.
Honda Overtakes Hero Sales
In April 2024, Honda experienced a remarkable surge in both domestic sales and exports, with a 42% increase in domestic sales and a 67% rise in exports compared to the previous year.
With a market share of 27.47% in India, Honda outpaced Hero MotoCorp in total sales for the month. Hero witnessed a substantial spike in sales, reaching 533,585 two-wheeler units sold, representing an annual growth rate of 34.71%. However, Honda clinched the top spot by achieving sales of 541,000 units, combining both domestic sales and exports.
Hero Splendor Stays Strong
Hero MotoCorp currently holds a market share of 27.04%. Their flagship motorcycle, the Hero Splendor, continues to dominate the Indian market. Notably, when examining domestic sales data, Hero saw a significant uptick in April 2024, achieving a remarkable 32.91% growth compared to the previous year.
Sales reached 513,296 units last month, compared to 386,184 units sold in April 2023. Meanwhile, Honda’s domestic sales stand at 4.81 lakh units presently.
Honda Expands in East India
Towards the end of April, Honda Motorcycle and Scooter India implemented significant initiatives. They inaugurated a new assembly line at their factory in Haryana. Moreover, in April, Honda’s total two-wheeler sales in eastern India surpassed 8 million units. This geographical region encompasses Bihar, Jharkhand, West Bengal, Odisha, and North-Eastern India.
Honda Tops Two-Wheeler Sales
Meanwhile, Honda is actively expanding its dealership network, having recently inaugurated new flagship dealerships in Uttar Pradesh, Maharashtra, and New Delhi. In April 2024, TVS Motor secured the third position in terms of sales, trailing behind Honda and Hero, with a total of 374,592 units sold.
Following TVS, Bajaj Auto Limited and Suzuki Motorcycle India Private Limited claimed the fourth and fifth positions, respectively. Bajaj’s sales for the previous month amounted to 341,789 units, reflecting an impressive growth rate of 18.68%.
Similarly, Japanese automaker Suzuki experienced a growth of 12.00%, achieving sales of 99,377 units. Bajaj currently holds a market share of 17.32%, while Suzuki follows with a market share of 5.04%.
Additionally, renowned automobile manufacturer and leader in the middleweight segment, Royal Enfield, observed significant growth, with sales increasing by 11.94% compared to the previous year, totaling 81,870 units.
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