The Indian two-wheeler industry witnessed robust growth in February 2024, with several manufacturers reporting strong sales figures. Hero MotoCorp and Honda emerged as frontrunners, collectively contributing to over 52% of the total market share. This shows the dedication of the industry to meeting the growing demand for two-wheelers across the country.
Hero MotoCorp
Hero MotoCorp, the largest two-wheeler manufacturer in India, reported robust sales in February 2024, with a total of 4,45,257 units sold, marking a significant 16.46% year-on-year (YoY) growth. Known for building solid and affordable motorcycles Hero MotoCorp has long maintained its position as a market leader in the Indian two-wheeler sector. From entry-level commuters to high-end motorcycles the company offers a wide range of products to suit various market niches. Hero MotoCorp has been able to hold onto its market-leading position due to a robust nationwide network of dealerships and service facilities.
Honda
Honda, securing the second spot in the Indian two-wheeler market, experienced impressive growth in February 2024, with a total of 4,13,967 units sold, representing a remarkable 82.31% year-on-year (YoY) growth. The company broad range products and well-known brand in the nation are key factors in its success. In order to serve a variety of clientele in India the company has been concentrating on growing its product line and launching new models. Honda has maintained its position as one of the leading producers of two-wheelers in the country by placing a high priority on customer satisfaction and after-sales service.
TVS Motor Company
TVS Motor Company maintained its strong position in the Indian two-wheeler market, reporting a total of 2,67,502 units sold in February 2024, marking a 20.82% year-on-year (YoY) growth. TVS is well-known for producing feature-rich fashionable motorcycles that serve to both enthusiasts and city travellers. In an effort to draw clients the corporation has been concentrating on releasing new models with cutting-edge features. With a strong distribution network and a focus on customer service TVS has been able to maintain its position as one of the leading two-wheeler manufacturers in India.
Bajaj Auto
Bajaj Auto demonstrated strong performance in February 2024, with a total of 1,24,157 units exported, leading the export charts with a notable 7.94% year-on-year (YoY) growth. Bajaj Auto is renowned for producing top-notch motorbikes and three-wheelers that meet the demands of consumers in both local and foreign markets. In order to adapt to shifting consumer needs the company has been concentrating on growing its international markets and launching new models.
Suzuki
Suzuki also contributed significantly to the Indian two-wheeler market, reporting a total of 58.82% year-on-year (YoY) growth in February 2024. The company dealer network around the nation and the success of its models are the main factors contributing to its success. Suzuki is renowned for producing fashionable highly functional motorcycles that appeal to youthful, ardent riders. To draw in customers the corporation has been emphasizing the release of new models with cutting-edge features.
Royal Enfield
Royal Enfield posted positive growth in February 2024, with a total of 5.39% year-on-year (YoY) growth. The company' success in the industry is fueled by the classic models and strong brand image that continue to connect with Indian consumers. Motorcycle aficionados find great attraction in Royal Enfield's vintage and retro-styled motorcycles. In order to serve various client sectors the company has been concentrating on broadening its product line and launching new models. One of the top motorbike manufacturers in India Royal Enfield has been able to hold onto its position by placing a significant emphasis on quality and customer happiness.
The strong performance of leading two-wheeler manufacturers like Hero MotoCorp, Honda, TVS, Bajaj, Suzuki, and Royal Enfield in February 2024 reflects the resilience and growth potential of the Indian two-wheeler industry. With a focus on innovation customer satisfaction, and expanding their product portfolios these companies are well-positioned to capitalize on the growing demand for two-wheelers in India.