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Get a comprehensive analysis of two-wheeler sales in August 2024 vs August 2023. See how key OEMs performed, with insights on the rise of electric vehicles like Ola and Ather.
Electric Scooters picking up the pace and satisfying customers needs for daily commute. In which Ola and Ather are the two main players in the electric two wheelers segment and they have shown tremendous YoY growth. On the other hand ICE two wheelers have slight growth where Honda and Suzuki performed well. But OEMs like Royal Enfield witnessed decline in sales.
This sales analysis highlights the two-wheeler market's performance in August 2024 compared to August 2023. The data includes sales numbers and market share percentages for major OEMs, with a focus on key trends and market dynamics.
OEM |
Sales (AUG '24) |
Sales (AUG '23) |
Growth (%) |
358,616 |
348,613 |
2.87% |
|
352,605 |
311,126 |
13.34% |
|
236,597 |
225,576 |
4.88% |
|
149,031 |
148,516 |
0.35% |
|
79,307 |
69,492 |
14.13% |
|
54,810 |
59,612 |
-8.06% |
|
51,996 |
49,937 |
4.12% |
|
27,517 |
18,750 |
46.78% |
|
10,830 |
7,157 |
51.32% |
|
2,816 |
2,926 |
-3.76% |
|
Total Market |
1,338,237 |
1,259,140 |
6.28% |
Total Sales (AUG '24): 1,338,237 units
Total Sales (AUG '23): 1,259,140 units
The overall two-wheeler market saw a growth of 6.28% year-on-year (YoY), with 79,097 more units sold in August 2024 than in August 2023.
Hero MotoCorp experienced a 2.87% increase in sales but lost market share, likely due to stronger competition from other OEMs.
Honda saw a significant 13.34% increase in sales, gaining market share and closing in on Hero MotoCorp for the top spot.
TVS Motor reported a moderate sales increase of 4.88%, but its market share dipped slightly due to the faster growth of other players.
Bajaj Auto's sales remained nearly flat, increasing by only 0.35%, leading to a decline in market share.
Suzuki achieved a strong sales growth of 14.13%, boosting its market share.
Royal Enfield saw a 8.06% decline in sales, resulting in a notable loss of market share.
Yamaha recorded a sales growth of 4.12%, but its market share declined marginally.
Ola Electric saw a substantial 46.78% growth in sales, gaining market share as demand for electric vehicles increased.
Ather Energy's sales surged by 51.32%, reflecting the rising interest in electric two-wheelers.
Greaves Electric Mobility posted a slight sales decline of 3.76%, leading to a minor drop in market share.
OEM |
MS (AUG '24) |
MS (AUG '23) |
MS Change (%) |
26.80% |
27.69% |
-0.89 |
|
26.35% |
24.70% |
1.65 |
|
17.68% |
17.92% |
-0.24 |
|
11.14% |
11.80% |
-0.66 |
|
5.93% |
5.52% |
0.41 |
|
Royal Enfield (Eicher Ltd) |
4.10% |
4.73% |
-0.63 |
3.89% |
3.97% |
-0.08 |
|
2.06% |
1.49% |
0.57 |
|
0.81% |
0.57% |
0.24 |
|
0.21% |
0.23% |
-0.02 |
Hero MotoCorp remains the market leader, but its market share declined by 0.89 percentage points.
Honda gained significant market share (up 1.65 percentage points), closing the gap with Hero MotoCorp.
TVS Motor and Bajaj Auto saw minor drops in market share.
Electric OEMs like Ola Electric and Ather Energy are gaining traction, with notable increases in both sales and market share, reflecting the growing demand for electric two-wheelers.
Also Read: Car Brand Sales in August 2024
The two-wheeler market is expanding, with most OEMs reporting sales growth in August 2024. However, some players like Royal Enfield experienced a decline in sales. Electric two-wheeler companies such as Ola and Ather are showing strong growth, indicating a shift in consumer preferences toward sustainable mobility options.
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