The two-wheeler segment is the largest contributor to the Indian automobile market in terms of volume. Hence, we get to see a lot of activity in this segment throughout the year. Let us look at the top 6 OEMs from the two-wheeler industry for the month of February 2024.
| Rank | OEM | Feb 2024 | Feb 2023 | YoY change | Jan 2024 | MoM change |
| 1. | Hero MotorCorp | 4,45,257 | 3,82,317 | 16.46% | 4,20,934 | 5.78% |
| 2. | Honda | 4,13,967 | 2,27,064 | 82.31% | 3,82,512 | 8.22% |
| 3. | TVS | 2,67,502 | 2,21,402 | 20.82% | 2,68,233 | -0.27% |
| 4. | Bajaj | 1,70,527 | 1,20,335 | 41.71% | 1,93,350 | -11.80% |
| 5. | Suzuki | 83,304 | 52,451 | 58.82% | 80,511 | 3.47% |
| 6. | Royal Enfield | 67,922 | 64,446 | 5.39% | 70,556 | -3.73% |
Hero MotoCorp
Hero continues the Indian two-wheeler market with a market share of over 30%. In February this year, Hero MotoCorp registered a monthly sales volume of 4,45,257 units as opposed to 3,82317 units in the domestic market, resulting in a YoY growth of 16.46%. At the same time, MoM sales grew by 5.78%. The company recently launched two new products— Xtreme 125R and Mavrick 440— the latter yet to reach showrooms.
Honda
Honda came a close second after recording a monthly volume of 4,13,967 units in February. This translated into a massive 82.31% YoY growth, while the MoM growth stood at 8.22%. The company is focussing on expanding its premium lineup of motorcycles retailed through the Big Wing chain of dealerships.
TVS
TVS registered a volume of 4,13,967 units in February 2023, a YoY jump of almost 21% . The Hosur-based two-wheeler manufacturer is a strong player in scooter, motorcycle and EV segments as well. Motorcycles registered a growth of 46% with sales increasing from 126,243 units in February 2023 to 184,023 units in February 2024.
Scooter registered a growth of 26% with sales increasing from 104,825 units in February 2023 to 132,152 units in February 2024. EV sales registered a growth of 16% with sales increasing from 15,522 units in February 2023 to 17,959 units in February 2024.
Bajaj
Domestic sales of Bajaj stood at 170,527 in February 2024 which led to a 42% YoY growth. However, MoM figures declined by almost 12% since Bajaj sold 1,93,350 two-wheelers in January this year. Bajaj recently updated the NS range of Pulsar namely N160, NS200 and NS125. These motorcycles now benefit from a Bluetooth-enabled reverse monochromatic LCD instrument console.
Suzuki
Suzuki reported a monthly sales volume of 83,304 units in February this year as opposed to 52,451 units sold during the same month last year. This resulted in a YoY growth of almost 59%. Change in MoM sales was marginal with a growth of 3.47%.
Royal Enfield
Royal Enfield registered a monthly volume of 67,922 units in February 2024 instead of 64,446 units sold in February last year. This translates to a 5.39% YoY growth. However, sales declined by almost 4% MoM since the Chennai-based bikemaker dispatched 80,511 units across the country in January this year. The bikemaker has plenty of models under development in the 350cc,450cc and 650cc lineup.
