Honda Motorcycles and Scooters Ltd (HMSI) reported robust sales figures for February 2024, showcasing remarkable growth in both domestic and export markets. Impressive year-over-year (YoY) growth rates have been achieved by the company as a result of its strategic concentration on expanding its sales network indicating a strong demand for its products.
Honda 2W Sales Breakup February 2024 – Domestic
In the domestic market, HMSI's sales were shown by Activa, which accounted for 48.11% of the company's total domestic sales. The CB Shine, Dio, and Unicorn also posted strong sales numbers reflecting the wide acceptance of Honda's offerings among Indian consumers. Honda's domestic sales totaled 4,15,967 units in February 2024, marking an 83.18% YoY growth and a volume gain of 1,88,884 units compared to February 2023. The company's efforts to expand its product range and enhance customer experience seem to have paid off as evidenced by the strong performance across its portfolio.
Activa
Honda Activa, India's largest-selling scooter, continued its dominance with 2,00,134 units sold in February 2024. Activa's sustained popularity is evident from its 14.69% year-on-year (YoY) growth, maintaining its appeal among Indian buyers. Honda's classic model has played a significant role in increasing the company's domestic sales and enhancing its standing as a top choice for scooter fans.
CB Shine
The CB Shine appeared as the second-best-selling model for Honda in February, with 1,20,119 units sold. With an important YoY rise of 237.47%, this indicated a robust market for this commuter motorcycle. Given its exceptional performance, the CB Shine is appealing to consumers and has established a solid reputation as a reliable and effective product in the commuter market.
Dio
The Dio observe a doubling of its sales with 104.63% year-on-year (YoY) growth, selling 29,649 units in February. Young riders are attracted to the Dio's sporty style and characteristics which make it a well-liked option in the scooter market. The Dio's attractive design and robust sales development have been supported by Honda's standing for dependability and quality as well as its own.
H'ness CB350
Honda's retro-styled cruiser, the H'ness CB350, recorded sales of 2,072 units, marking a remarkable 549% year-on-year (YoY) growth. Cruiser fans often choose the H'ness CB350 because of its durable performance, modern features, and classic look. Buyers have responded favorably to its reassuring appeal and Honda's superior engineering which has helped to explain its remarkable sales numbers.
Honda 2W Sales Breakup February 2024 – Exports
Honda's exports saw a remarkable increase, with the Navi being the highest-exported model, shipping 13,393 units. Other models such as the Dio, Activa, and CB Shine showcased Honda's global appeal and market reach supporting the great performance of the Navi. Honda's total exports stood at 42,250 units in February 2024, up from 19,383 units in February 2023, marking a 117.97% YoY growth and a volume gain of 22,867 units. Due to its success in growing its export business, the company has demonstrated that it can adjust to a wide range of markets and customer preferences.
Honda is an important player in the two-wheeler sector as demonstrated by its performance in February 2024. Honda maintains its customer base in India and other places by offering a wide range of products and a dedication to quality and innovation. Positive sales numbers indicate that consumers have faith in Honda's products and brand which works well for the company's future development and expansion goals.