Improving rural demand helps Honda Motorcycles post 86% growth in February 2024

Honda Motorcycle & Scooter India (HMSI) has reported an 86 per cent year-on-year sales growth in February 2024 with a total sales of 458,711 units retailed. Compared to last month, the Japanese two-wheeler manufacturer dispatched 247,195 units of motorcycles and scooters in February last year. The auto company further stated in its official statement that its wholesales in the Indian domestic market increased to 413,967 units last month as compared to 227,084 units sold in the same month a year ago.

The Japanese two-wheeler manufacturer has a wide range of motorcycles and scooters on offer in the Indian market, ranging from entry-level commuters to 1.8-litre engine-equipped big bikes. In the scooter segment, the two-wheeler major has been dominating the Indian market for several years thanks to its Activa range of commuter scooters.

Over the last few years, especially since the Covid-19 pandemic, demands for personal mobility have increased drastically across India. This has propelled the growth in two-wheeler sales across the country. The Indian two-wheeler market is majorly dominated by the demands from the rural market and in 2023, rural consumer sentiment was slightly down due to factors like lack of rain, economic stress etc. However, in the last few months, the situation has improved, helping the two-wheeler manufacturers to post a better picture.

The auto companies hope this growth momentum in the two-wheeler segment will continue further in the coming months. Fuelling this growth would be the upcoming parliamentary elections, which traditionally propel growth in the segment. While the commuter segment has been witnessing a sustainable growth momentum, demands for premium bigger models too are rising across the country. Honda being a major player in the segment has been witnessing growing demands from consumers in this category.