In a notable shift of dominance within the Indian two-wheeler market, Honda Motorcycle and Scooter India (HMSI) has overtaken long-time leader Hero MotoCorp, securing the top position in July 2024. The company's performance last month saw it outsell its competitor in both domestic and overall sales.
Honda's strong performance in both domestic and export markets allowed it to surpass Hero MotoCorp by a notable margin of 1,12,726 units in July.
July two-wheeler sales: First time on top for Honda in domestic marketHonda reported dispatching 4,83,100 units in July, marking a significant 43 percent YoY growth. This figure includes 4,39,118 units sold domestically and 43,982 units exported. Domestic sales alone showed a robust 41 percent YoY increase, while exports surged by 60 percent compared to the same period last year.
July two-wheeler sales: How Hero MotoCorp performedOn the other hand, Hero MotoCorp faced a challenging month as it reported sales of 3,70,374 units. This included 3,40,390 motorcycles and 29,884 scooters, both of which saw YoY declines of 5.60 percent and 2.72 percent, respectively. Domestic sales fell by 6.43 percent to 3,47,535 units, down from 3,71,204 units in July 2023. However, the company did see an increase in exports, rising to 22,739 units from 20,106 units in July 2023.
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