Sales of two-wheelers have demonstrated robust growth in September, driven by a notable surge in electric two-wheeler sales and improvement in the exports. Leading brands like Hero MotorCorp, Bajaj, TVS Motor Co, and Honda all reported positive growth compared to their performance in September 2023
On the other hand, September saw poor sales reports from passenger car makers for the third straight month, which was indicative of further difficulties in the sector as a result of the industry’s chronically low demand. Dealerships are overstocked, forcing businesses to cut back on dispatches to control surplus inventory in the face of waning demand.
2W sales are still quite strong. With the first-ever passing of the 4-lakh milestone, Bajaj Auto recorded a 22% rise in 2W sales, hitting 4,00,489 units (including exports). Three,27,712 units were sold by the corporation during the same time last year.
Domestic two-wheeler sales experienced a 28% year-on-year growth to 2,59,333 units, while exports rose by 13%. Year-to-date figures for two-wheelers indicate a 12% year-on-year increase, with a total of 1,984,125 units sold
Sales at TVS Motor Company increased from 386,955 units in September 2023 to 471,792 units in September 2024, representing a 22% gain. Sales of domestic two-wheelers increased from 300,493 units in September 2023 to 369,138 units in September 2024, representing a 23% jump in sales. Honda Motorcycle & Scooter India announced an increase in domestic wholesale sales, with 536,391 units sold as opposed to 491,802 units in September 2023.