Two Wheeler Sales May 2024: 10.1% YoY Growth

Key Highlights:

• Scooter sales jumped 21.1% in May 2024 compared to May 2023.
• Motorcycles grew by 5.0% in domestic sales.
• Mopeds saw a 12.7% increase in sales.
• Total two-wheeler sales rose by 10.1% year-on-year.

In May 2024, the Indian two-wheeler industry exhibited a decent growth of 10.1%, with sales reaching 16,20,084 units compared to the previous year's figure of 14,71,550 units for the same month. Within this growth, the scooter segment demonstrated remarkable growth of 21.1%, followed by mopeds at 12.7%, and motorcycles registering a modest 5% year-on-year growth.

The Society of Indian Automobile Manufacturers (SIAM) has released its report for domestic sales of two-wheelers for May 2024, revealing notable trends and growth patterns across different segments. 

Domestic Sales: May 2023 vs. May 2024

Scooters

Domestic sales of scooters surged significantly, with 5,40,866 units sold in May 2024 compared to 4,46,593 units sold in May 2023. This substantial growth underscores the enduring popularity and demand for scooters among Indian consumers, reflecting their preference for convenient and efficient urban mobility solutions.

Motorcycles

In contrast, motorcycles witnessed a more slight growth, with 10,38,824 units sold in May 2024 compared to the previous year, when 9,89,120 units were sold in May 2023. While the segment continues to maintain steady growth, the rate of expansion indicates a slightly slower pace compared to scooters. 

Mopeds

Mopeds, a segment often overshadowed by scooters and motorcycles, demonstrated a notable uptick, with 40,394 units sold in May 2024 compared to 35,837 units sold in May 2023, representing a 12.7% year-on-year growth. This growth highlights the resilience of mopeds in catering to specific market niches and consumer needs. 

Overall

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The total domestic sales of two-wheelers witnessed a commendable 10.1% year-on-year growth in May 2024. This growth, driven primarily by the surge in scooter sales, reflects the evolving preferences and demands of Indian consumers in the two-wheeler segment.

Carbike360 Says

The comparison between May 2023 and May 2024 domestic sales data for two-wheelers unveils a nuanced narrative of growth and diversification within the segment. While scooters lead the charge with remarkable expansion, motorcycles and mopeds contribute to the overall positive trajectory of the Indian two-wheeler market.