Honda Overtakes Hero MotoCorp As India's Leading Two-Wheeler Seller
Hero MotoCorp has traditionally held the top position in the market.
In a notable shift in India's two-wheeler market, Honda Motorcycle & Scooter India (HMSI) has surpassed Hero MotoCorp in domestic wholesales. Data from the Society of Indian Automobile Manufacturers (SIAM) shows that Honda recorded 18.53 lakh units in the April-July 2024 period, edging out Hero MotoCorp's 18.3 lakh units.
This change is significant as Hero MotoCorp has traditionally held the top position in the market. The shift comes as the industry prepares for the crucial festive season, a key period for sales.
Market experts suggest that Honda's rise is due to several factors, including the strong performance of the Honda Shine 100, particularly in key markets like Madhya Pradesh, Rajasthan, and Uttar Pradesh. The growing popularity of scooters in both rural and urban areas has also contributed to this shift, with scooters increasingly outselling motorcycles.
Despite Honda's lead in wholesales, Hero MotoCorp still holds the top spot in retail sales for the fiscal year, though the margin is narrowing. Hero MotoCorp's retail sales reached 17.5 lakh units during the same period, compared to Honda's 15 lakh units.
Industry analysts from Jato Dynamics and India Ratings & Research note that Hero's strong presence in rural markets remains, but the increasing demand for scooters has made the outlook for recovery less certain as the festive season approaches.
Honda's recent performance, supported by consistent supplies and strong scooter sales, has positioned it well as the competition intensifies between the two leading companies in the upcoming festive season.
