Honda 2W February 2024 Sales Shows Remarkable 86 % YoY and 9.3% MoM Growth

Key Highlights:

• Honda's February 2024 sales surged with 86% YoY growth.
• MoM growth of 9.3% showcased by Honda.
• Honda shows a surge in export sales, with 122.49% YoY growth.

Honda reported exceptional sales performance in February 2024, marked by significant gains in both domestic and international markets. The company's robust sales figures underscore its position as a leader in the 2W industry.

Honda: YoY Sales Performance

Domestic Sales Performance:

• In February 2024, Honda's domestic sales surged impressively, reaching 4,13,967 units, reflecting a remarkable 82.31% YoY growth.
• This surge indicates a substantial increase compared to the 2,27,067 units sold in February 2023.
• The YoY volume gain for Honda in the domestic market stands at an impressive 1,86,903 units, showcasing robust growth momentum.

Export Sales Performance:

• Honda experienced a significant surge in export sales during February 2024, with a total of 44,744 units shipped internationally.
• This figure represents an exceptional 122.49% YoY growth compared to the 20,111 units exported in February 2023.
• The surge in exports indicates Honda's successful expansion and increased market penetration in international markets.

Overall Sales Performance:

• Combining both domestic and export sales, Honda's total sales for February 2024 reached 4,58,711 units, marking an impressive 85.58% YoY growth.
• This total surpasses the 2,47,175 units sold in February 2023, reflecting a substantial increase of 2,11,536 units YoY.

Also Read: Royal Enfield February 2024 Sales, Steady YoY Growth Amidst Slight MoM Dip

Honda: MoM Sales Performance

Domestic Sales Performance:

• In February 2024, Honda's domestic sales recorded a robust 8.22% MoM growth, reaching 4,13,967 units compared to 3,82,512 units in January 2024.
• This growth equates to a volume increase of 31,455 units, showcasing strong momentum in the domestic market.
• Although domestic sales remained the primary revenue driver, the proportion of domestic sales to total sales slightly decreased from 91.21% in January 2024 to 90.25% in February 2024.

Export Sales Performance:

• Honda's export sales also demonstrated significant growth in February 2024, with a 21.31% MoM increase.
• The company shipped 44,744 units internationally, up from 36,883 units in January 2024, marking a volume growth of 7,861 units.
• This growth reflects Honda's continued focus on expanding its global presence and tapping into new markets.

Overall Sales Performance:

Combining both domestic and export sales, Honda's total sales for February 2024 reached 4,58,711 units, reflecting a 9.37% MoM growth.
This total surpasses the 4,19,395 units sold in January 2024, with a net increase of 39,316 units MoM.

CarBike360 Says

Continued focus on product development, marketing strategies, and expansion initiatives will be crucial for sustaining growth and strengthening Honda's market position in the future.
This comprehensive analysis provides valuable insights into Honda's sales performance in February 2024, highlighting areas of strength and opportunities for future growth and innovation.