Image of a Honda Activa 125 used for representational purposes
Japan’s Honda Motorcycle & Scooter India (HMSI) has overtaken India’s Hero MotoCorp in the two-wheeler market. HMSI’s total 2W sales (domestic and exports) stood at 5.19 lakh units in June 2024 while Hero’s total sales last month were at 5.03 lakh units, as per monthly sales data published by the two companies.
In the domestic market, however, Hero MotoCorp maintained its lead by a meagre 9,000 units. Hero’s domestic sales stood at 491,416 units last month, translating into a growth of 16% over the corresponding month (422,757 in June 2023). On the other hand, HMSI’s domestic sales, which registered a tremendous growth of 59% year-on-year in June 2024, were at 4,82,597 units.
In the export market, HMSI’s shipment grew by 70% to 36,202 units while Hero’s exports came down to 12,032 units last month from 14,236 units in June 2023.
While the gap between the two automakers has been shrinking since they decided to split in 2011, it has narrowed down considerably in recent times. For example, Honda’s domestic sales were 450,589 units in May 2024 while Hero’s sales stood at 479,450 units. The gap in total sales (including exports) was just about 6,000 units (Honda: 492,047 units and Hero: 498,123 units).
Honda eclipsing Hero in monthly sales comes despite no major launches in the recent past. Hero, meanwhile, has seen a slew of big launches in the premium segment. “Hero has upped its premium game which is positive for the company. In the high-volume commuter segment, however, it has seen substantial erosion of market share. We believe Hero may extend its lead in the month as normal monsoon and onset of the festive season is a big positive for the company,” said a senior analyst at a brokerage firm.
Both Hero MotoCorp and HMSI have seen a decline in market share from their peak level as rival automakers TVS Motor, Bajaj Auto, Royal Enfield and a bunch of new-age electric manufacturers have increased their presence among consumers.
Chennai-based TVS Motor reported that its total two-wheelers registered a growth of 6% to 322,168 units in June 2024. Domestic two-wheelers registered growth of 8% to 255,734 units. For Bajaj, total two-wheeler volume (domestic+exports) in June 2024 stood at 303,646 units, up 3% year-on-year. Domestic two-wheeler sales rose 7% to 177,207 units in June 2024.
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
