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August 2024 Two-Wheeler Sales

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Mohit Kumar
Mohit Kumar
|Updated on:06-Sep-2024 07:09 AM

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ByMohit Kumar

Updated on:06-Sep-2024 07:09 AM

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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.

August 2024 Two-Wheeler Sales

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 (%)

Hero MotoCorp Ltd

358,616

348,613

2.87%

Honda Motorcycle & Scooter India

352,605

311,126

13.34%

TVS Motor Company Ltd

236,597

225,576

4.88%

Bajaj Auto Group

149,031

148,516

0.35%

Suzuki Motorcycle India Pvt Ltd

79,307

69,492

14.13%

Royal Enfield (Eicher Ltd)

54,810

59,612

-8.06%

India Yamaha Motor Pvt Ltd

51,996

49,937

4.12%

Ola Electric

27,517

18,750

46.78%

Ather Energy Pvt Ltd

10,830

7,157

51.32%

Greaves Electric Mobility Pvt Ltd

2,816

2,926

-3.76%

Total Market

1,338,237

1,259,140

6.28%

Overall Market Growth

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.

OEM-wise Performance

Hero MotoCorp Ltd

  • Sales (AUG '24): 358,616 units
  • Sales (AUG '23): 348,613 units
  • Market Share (AUG '24): 26.80% (decreased from 27.69% in AUG '23)

Hero MotoCorp experienced a 2.87% increase in sales but lost market share, likely due to stronger competition from other OEMs.

Honda Motorcycle and Scooter India (P) Ltd

  • Sales (AUG '24): 352,605 units
  • Sales (AUG '23): 311,126 units
  • Market Share (AUG '24): 26.35% (increased from 24.70% in AUG '23)

Honda saw a significant 13.34% increase in sales, gaining market share and closing in on Hero MotoCorp for the top spot.

TVS Motor Company Ltd

  • Sales (AUG '24): 236,597 units
  • Sales (AUG '23): 225,576 units
  • Market Share (AUG '24): 17.68% (slightly down from 17.92% in AUG '23)

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 Group

  • Sales (AUG '24): 149,031 units
  • Sales (AUG '23): 148,516 units
  • Market Share (AUG '24): 11.14% (down from 11.80% in AUG '23)

Bajaj Auto's sales remained nearly flat, increasing by only 0.35%, leading to a decline in market share.

Suzuki Motorcycle India Pvt Ltd

  • Sales (AUG '24): 79,307 units
  • Sales (AUG '23): 69,492 units
  • Market Share (AUG '24): 5.93% (up from 5.52% in AUG '23)

Suzuki achieved a strong sales growth of 14.13%, boosting its market share.

Royal Enfield (Unit of Eicher Ltd)

  • Sales (AUG '24): 54,810 units
  • Sales (AUG '23): 59,612 units
  • Market Share (AUG '24): 4.10% (down from 4.73% in AUG '23)

Royal Enfield saw a 8.06% decline in sales, resulting in a notable loss of market share.

India Yamaha Motor Pvt Ltd

  • Sales (AUG '24): 51,996 units
  • Sales (AUG '23): 49,937 units
  • Market Share (AUG '24): 3.89% (slightly down from 3.97% in AUG '23)

Yamaha recorded a sales growth of 4.12%, but its market share declined marginally.

Ola Electric Technologies Pvt Ltd

  • Sales (AUG '24): 27,517 units
  • Sales (AUG '23): 18,750 units
  • Market Share (AUG '24): 2.06% (up from 1.49% in AUG '23)

Ola Electric saw a substantial 46.78% growth in sales, gaining market share as demand for electric vehicles increased.

Ather Energy Pvt Ltd

  • Sales (AUG '24): 10,830 units
  • Sales (AUG '23): 7,157 units
  • Market Share (AUG '24): 0.81% (up from 0.57% in AUG '23)

Ather Energy's sales surged by 51.32%, reflecting the rising interest in electric two-wheelers.

Greaves Electric Mobility Pvt Ltd

  • Sales (AUG '24): 2,816 units
  • Sales (AUG '23): 2,926 units
  • Market Share (AUG '24): 0.21% (down from 0.23% in AUG '23)

Greaves Electric Mobility posted a slight sales decline of 3.76%, leading to a minor drop in market share.

Market Share Trends

OEM

MS (AUG '24)

MS (AUG '23)

MS Change (%)

Hero MotoCorp Ltd

26.80%

27.69%

-0.89

Honda Motorcycle & Scooter India

26.35%

24.70%

1.65

TVS Motor Company Ltd

17.68%

17.92%

-0.24

Bajaj Auto Group

11.14%

11.80%

-0.66

Suzuki Motorcycle India

5.93%

5.52%

0.41

Royal Enfield (Eicher Ltd)

4.10%

4.73%

-0.63

India Yamaha Motor

3.89%

3.97%

-0.08

Ola Electric

2.06%

1.49%

0.57

Ather Energy 

0.81%

0.57%

0.24

Greaves Electric Mobility

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

Conclusion

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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