Domestic two-wheeler sales rise in August

Hero MotoCorp, India’s largest manufacturer of motorcycles and scooters, dispatched 512,360 units of motorcycles and scooters in August 2024. Domestic sales during the month stood at 492,263 units, up 4% year-on-year compared to 472,947 units in August 2023.

Monthly sales were marginally impacted by supply shortages, which will be made up in September, Hero MotoCorp says in a stock exchange filing.

Hero MotoCorp says it is geared to ramp up for the upcoming festive season, where it expects healthy growth. “With faster recovery expected in the rural segment, growth in the 125cc segment, new launches in scooters and strong investment behind power brands, the company expects to grow ahead of the industry,” the two-wheeler maker says.

VIDA, Hero MotoCorp’s EV brand, dispatched over 6,000 monthly units for the first time. Its retail market share (VAHAN) has grown to over 5%.

TVS Motor Company recorded monthly sales of 391,588 units in August 2024 with a growth of 13% as against 345,848 units in the month of August 2023. Total two-wheelers registered a growth of 14% with sales increasing from 332,110 units in August 2023 to 378,841 units in August 2024. Domestic two-wheeler registered growth of 13% with sales increasing from 256,619 units in August 2023 to 289,073 units in August 2024.

TVS’ motorcycle sales registered a growth of 11% with sales increasing from 153,047 units in August 2023 to 170,486 units in August 2024. Scooter registered a growth of 15% with sales increasing from 142,502 units in August 2023 to 163,629 units in August 2024. EV sales registered a growth of 4% with sales increasing from 23,887 units in August 2023 to 24,779 units in August 2024. Two-wheeler exports registered a growth of 19% with sales increasing from 75,491 units in August 2023 to 89,768 units in August 2024.

Bajaj Auto’s two-wheeler sales rose 18% year-on-year to 3,35,178 units in August. Domestic sales jumped 30% to 2,08,621 units while exports rose 2% to 1,26,557 units. Reacting to the robust sales, shares of Bajaj Auto hit a record high of ₹11,151 on the BSE, taking the company’s m-cap to ₹3.1 lakh crore.

Sales of Royal Enfield motorcycle maker Eicher Motors dropped 5% year-on-year to 73,629 units in August compared with 77,583 units in the corresponding month last year.