Top Two-Wheeler Manufacturers In India: May 2024 Sales Report

Published: Tuesday, June 4, 2024, 14:37 [IST]

The Indian two-wheeler industry is one of the largest automotive segments in the world, receiving more attention than any other style of vehicle, in the domestic market.

The top 6 manufacturers in the two-wheeler space in India, sold a combined total of 16,71,685 units in May 2024, with Hero, Honda and TVS taking the top three places.

Hero MotoCorp (4,98,123 units)

Topping the chart, in first place we have Hero MotoCorp, which sold an impressive 4,98,123 units sold in May 2024, recording a 1.76% YoY growth when compared to the 4,89,336 units sold in May 2023.

However, April 2024 did have 5,13,296 units sold which means Hero had a 2.95% decrease last month. In Hero’s sales report for May 2024, they also stated that they have had a 40% YoY increase in exports for May 2024, with 18,673 units compared to the 11,165 units exported in the previous year.

Honda (4,50,589 units)

Selling 4,50,589 units in May 2024, with an incredible YoY growth of 30.95% compared to the 3,11,114 units sold in May 2023, we have Honda, taking home second place.

Unfortunately, this is a 6.33% decrease compared to April this year which had 4,81,046 units sold. However, Honda recorded a 41% increase in YoY exports in May 2024.

TVS Motor Company (3,59,590 units)

In third place, we have TVS Motor Company with 3,59,590 units in May 2024. This marks a 29.72% YoY growth compared to May 2023’s 2,52,690 units sold.

Apart from that, TVS has also had a 16.16% sales growth since April 2024 which had 3,01,449 units sold. It is noted that these sales do not include the iQude series from TVS.

Bajaj Auto (1,88,340 units)

Fourth Place is secured by Bajaj Auto having sold 1,88,340 units in May 2024. This is an, unfortunately, a 3% decrease in YoY sales, with May 2023 having 1,94,811 units sold, and a 13.18% decrease since April 2024 which had 2,16,950 units sold.

On the plus side, Bajaj has recorded a 4 per cent increase in YoY exports having exported 1,12,885 units in May 2023 and 1,17,142 units in May 2024.

Suzuki (1,11,512 units)

Suzuki takes fifth place, selling 1,11,512 in May 204, which is an impressive 21.02% growth in just one month, with 88,067 units being sold in April 2024, and a 44.90% YoY growth with 61,442 units being sold in May 2023.

However, Suzuki has had a decrease in sales by 19.75% in exports with 19,480 units being sold in May 2024 and 24,276 units in May 2023.

Royal Enfield (63,531 units)

Last on our list we have Royal Enfield, which sold 63,531 units in May 2024, which is a decrease of 10.26% compared to the 70,795 units sold in May 2023. In April 2024, Royal Enfield managed to sell 75,038 units, which means they had a 15.33% decrease in sales.

On the positive side, comparing the sales of the previous year, Royal Enfield has had a 10.87% YoY growth in export units with 6,666 units being sold in May 2023 and 7,479 units being sold this year.

DriveSpark thinks

The Indian two-wheeler industry is constantly evolving and changing. And companies need to stay alert and adaptable, keeping up with market trends and consumer demands. Those who manage to keep up with the changes and grow will be set for long-term success.