Honda becomes new Hero in Indian two-wheeler market, topples Hero MotoCorp
In a significant shift in the Indian two-wheeler market, Hero MotoCorp has lost its top spot in the domestic sales chart. The homegrown two-wheeler manufacturer has fallen to second position in the chart behind its erstwhile partner in business Honda Motorcycle and Scooter India (HMSI). Data released by the Society of Indian Automobile Manufacturers (SIAM), revealed that Honda has surpassed Hero MotoCorp's wholesale dispatch numbers in the April-July period of this year. Honda surpassed Hero MotoCorp's domestic sales after 13 years of the two companies deciding to split after their 26 years of partnership.
SIAM has stated in its chart that Honda registered 18,53,350 units of two-wheelers in the April-July period of 2024, while Hero MotoCorp recorded 18,31,697 units during the same period. This means Honda dispatched 21,653 units more two-wheelers than its closest rival, while the difference grows to more than 1.30 lakh units when the export numbers are counted. Interestingly, in 2023, during the same period, Honda registered 12,63,062 units compared to Hero MotoCorp's 16,88,454 units of two-wheelers.
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Hero MotoCorp holds retail top spot
While in terms of wholesale numbers, Honda has beaten the homegrown two-wheeler major, Hero MotoCorp remains ahead of its erstwhile business partner in retail numbers. Hero MotoCorp retailed more than 17.5 lakh units of two-wheelers between April and July, as the data from the Federation of Automobile Dealers' Associations (FADA) has revealed. During the same period, HMSI's retail numbers recorded were nearly 2.5 lakh units.
Another key trend in the Indian two-wheeler market over the last couple of months is the growth of Honda's market share. The HMSI has witnessed its market share growing from just under 20 per cent in April this year to 24.3 per cent in July 2024. In contrast, Hero MotoCorp's market share has declined from more than 33 per cent in April 2024 to 29.4 per cent in July this year.
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