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Get ready for an exciting deep dive into the pulse of India’s two-wheeler market!. This two wheeler sales report will examine India’s two wheeler sales data from April to November 2024 and the same period in 2023. These two wheeler sales trends are crucial indicators of the performance of key players, providing valuable data for industry analysts and market researchers in India.
India’s two-wheeler market is dynamic and competitive, with many companies vying for market share. The market is dominated by domestic players like Hero MotoCorp and Bajaj Auto and international brands like Honda and Suzuki.
In this report, we will give you the two wheeler sales data for each company in India. We will also focus on major winners and losers, providing a comprehensive overview of the market in 2023 and 2024. Join us as we unravel the sales trends of two wheeler companies and uncover what’s driving their successes and setbacks!
Key Takeaways
- According to the two-wheeler sales report, the data shows that Jawa/Yezdi two-wheelers in India witnessed a -20.9% decline in the fiscal year 2024.
- According to the sales report, the data shows that the Aprilia two-wheeler in India surged with a +31.1% change in fiscal year 2024.
- Two wheeler sales data report shows that Triumph in India witnessed a surge in two wheeler sales with a +69.3% increase compared to the fiscal year 2023.
- Two wheeler sales data report shows that the Royal Enfield two-wheeler in India surged with a +24.3% change in fiscal year 2024.
Company-wise two-wheeler sales data analysis and report of top brands in 2024 and 2023
This section will delve into the sales data of key two-wheeler companies in India, analysing their performance in FY 2023 and 2024. We will also discuss the factors influencing their sales and market trends during this period.
1. Hero MotoCorp
Hero MotoCorp has maintained its leadership position, achieving a 14.6% year-on-year (YoY) growth. This growth, particularly in a fiercely competitive market, reaffirms the brand’s strong position and consumer appeal.
The substantial increase in sales volume further solidifies its market dominance. The popularity of its Hero Splendor and HF Deluxe models among rural and urban buyers is a testament to the brand’s market strength.
2. Honda Motorcycle and Scooter India (HMSI)
Honda Motorcycle and Scooter India (HMSI) has recorded a robust 16.4% YoY increase, surpassing the significant milestone of 40 lakh sales. This growth, buoyed by the continued popularity of its Activa scooters and Shine motorcycles, ensures the brand’s stability. The 16.4% increase represents a substantial increase in sales volume, further solidifying Honda’s strong market presence and consumer trust.
3. TVS Motor Company
TVS Motor Company, with a strategic 13.5% YoY growth, has successfully expanded into urban and semi-urban areas. This expansion, driven by the demand for its Jupiter scooters and Apache motorcycles, demonstrates the potential to tap into new markets and inspires its broad customer base.
4. Bajaj Auto
Bajaj Auto registered a 6.4% increase, with its Pulsar and Platina series leading the charge, though entry-level segments faced competition.
5. Suzuki
Suzuki’s sales increased by 16.3%, driven by strong performance in the scooter segment and models like Access 125, alongside consistent motorcycle growth.
6. Yamaha
Yamaha registered a 13.0% growth, with a strong showing from its FZ and MT series motorcycles, which appeal to urban and young buyers.
7. Royal Enfield
Royal Enfield emerged as a standout performer, recording a 24.3% YoY growth. Its Hunter 350 and Classic 350 models garnered widespread consumer interest.
8. KTM
KTM recorded a 6.3% growth in domestic sales, selling 42,000 units from April to November 2024 compared to 39,500 units during the same period in 2023. Its flagship Duke and RC series continues to attract urban enthusiasts. However, the growth was tempered by increasing competition in the segment.
9. Aprilia
Aprilia achieved a remarkable 31.1% increase, with sales climbing to 27,800 units in 2024 from 21,200 units in 2023. This growth was driven by the launch of updated scooters and motorcycles, including the SR and Tuono series, alongside its enhanced focus on urban and semi-urban markets.
10. Jawa/Yezdi
Unfortunately, from the 2023 and 2024 two-wheeler sales data analysis, the report shows that Jawa/Yezdi’s sales declined by 20.9% due to limited model refreshes. They intensified competition from other mid-range players, such as Royal Enfield and Bajaj, who have aggressively marketed product strategies, challenging Jawa/Yezdi’s market share. This narrative highlights the challenges faced by Jawa/Yezdi, evoking empathy from the audience towards the brand’s struggles.
11. Triumph
On the other hand, Triumph experienced a remarkable growth of 69.3%, driven by the success of its Speed 400 and other mid-capacity offerings. This success story provides valuable insights into the potential of collaborations in expanding market reach and inspires the brand’s significant growth.
12. Kawasaki
Despite being a niche player in the premium segment, Kawasaki has shown steady 21.9% growth. This consistent growth trajectory instils confidence in the brand’s future potential in the Indian two-wheeler market, providing optimism about the brand’s future.
What factors are influencing two-wheeler sales in India?
Let’s delve into the various factors that have shaped the market in the past year, including the successful festive season, economic recovery, and model refreshes.
- Festive Season: A successful festive season, particularly during October and November, bolstered demand significantly.
- Economic Recovery: Improved macroeconomic indicators, such as rising disposable income and rural market strength, supported the uptick in sales.
- Model Refreshes and Upgrades: Frequent model launches and upgrades across all price segments helped manufacturers maintain consumer interest.
- Rural and Semi-Urban Markets: These regions account for a large share of sales and benefit from better harvests and government subsidies.
- Competition from EVs: Despite their small share, electric two-wheelers showed considerable growth, hinting at a gradual shift in consumer preferences.
- Premium Segment Expansion: Brands like Triumph and Kawasaki benefit from increased demand in the premium motorcycle segment due to a growing affluent middle class.
- Mid-range Competition: Players like Jawa and Royal Enfield are battling for market share in the mid-capacity segment, leading to fluctuating sales.
- Scooter Influence: Suzuki and Yamaha continue to leverage the scooter market’s rapid expansion, supported by urbanisation and an increasing number of women riders.
- Product Refresh and Partnerships: Partnerships (e.g., Triumph-Bajaj) and regular model updates are crucial in attracting buyers.
What key factors led Jawa/Yezdi’s two wheeler sales decline in India in FY 24?
1. Quality Issues and Reliability Concerns
One of the primary factors affecting Jawa/Yezdi’s sales is the persistent quality issues and reliability concerns associated with their motorcycles. Despite technically modern designs, the motorcycles have been criticised for their higher levels of NVH (Noise, Vibration, and Harshness).
2. Inadequate After-Sales Service and Support
The lack of a robust service network and difficulty obtaining spare parts significantly affect customer satisfaction and loyalty. This inadequacy in after-sales support has created a negative perception among consumers. The multiple issues reported by the service team indicate persistent problems with maintenance and customer support.
3. Negative Showroom Experiences
Customer experiences at Jawa/Yezdi showrooms have contributed to the brand’s poor image. Reports of rude staff behaviour and restrictive test drive policies have deterred potential buyers. These negative interactions starkly contrast with more positive experiences reported at competing brands’ showrooms.
4. Market Positioning and Brand Perception
Jawa and Yezdi successfully leverage their historical significance and classic design to appeal to consumers’ sense of nostalgia. However, the brand has struggled to create a strong, aspirational image comparable to Royal Enfield’s. The lack of clear differentiation between the Jawa and Yezdi brands may also lead to the cannibalisation of sales.
5. Product Lineup and Innovation
Despite introducing new models like the 42 Bobber and 42 FJ 350, Jawa/Yezdi still needs to differentiate its products significantly. The brand’s lack of substantial innovation and unique features has made it challenging to stand out.
6. Pricing Strategy
The pricing of Jawa and Yezdi motorcycles has been contentious. Given the quality and features offered, some models are perceived as overpriced, making it difficult to compete with brands offering better value propositions.
7. Distribution and Supply Chain Challenges
Jawa and Yezdi have faced logistical and supply chain challenges, which have impacted their ability to effectively meet market demand. This has been a significant barrier to scaling their operations and achieving sales targets. In contrast, successful competitors have optimised their distribution networks and ensured consistent product availability, contributing to their market dominance.
8. Competitive Pressure
The Indian motorcycle market is competitive, with Royal Enfield leading sales at 7,15,056 units in 2023 and capturing a 26.05% market share with new models like the Hunter 350. Brands like Honda and KTM are also experiencing growth and increasing competition.
9. Market Trends and Consumer Preferences
The shift towards electric vehicles (EVs) in the Indian motorcycle market, driven by government incentives and rising fuel prices, poses a challenge for Jawa/Yezdi. The brands have yet to make inroads into the EV segment, potentially missing out on this growing market trend.
10. Economic Factors
Despite rising disposable incomes and urbanisation in the Indian motorcycle market, Jawa/Yezdi has struggled to compete. Economic volatility, such as fuel price and exchange rate fluctuations, may have impacted them more due to their smaller scale and weaker market position.
What factors led to Triumph’s significant rise in two wheeler sales in India in FY 24 compared to 2023?
1. Strategic Partnership with Bajaj Auto
One of the most crucial factors in Triumph’s success was its strategic partnership with Bajaj Auto. This collaboration proved to be a game-changer for Triumph’s operations in India:
- Expanded Dealer Network: Within a year, Bajaj Auto expanded Triumph’s dealer network from 15 to over 90 showrooms across more than 70 cities. This rapid expansion significantly enhanced Triumph’s accessibility to a broader audience, improving customer engagement and after-sales support.
- Leveraging Bajaj’s Distribution Network: The partnership allowed Triumph to take advantage of Bajaj’s extensive distribution network, which was instrumental in penetrating the Indian market more effectively. This synergy enabled Triumph to maintain its global brand standards while adapting to local market conditions.
- Local Manufacturing: The collaboration included manufacturing at Bajaj’s Chakan plant in Pune. With its reduced costs, this local production allowed quicker adaptation to market demands and regulatory requirements.
2. Introduction of New Models Tailored for the Indian Market
Triumph’s product strategy played a pivotal role in its success:
- Launch of Speed 400 and Scrambler 400X: These models were designed to cater to the Indian market’s demand for accessible premium motorcycles. The launch was met with significant enthusiasm, evidenced by 10,000 bookings within the first ten days. These models combined performance, style, and affordability, making them highly attractive to Indian consumers.
- Competitive Pricing: The new models were introduced at competitive prices, starting at Rs 2.33 lakh, which helped Triumph capture a larger market share. This pricing strategy made Triumph motorcycles more accessible to a broader range of premium segment consumers.
3. Market Expansion and Production Increase
Triumph’s aggressive market expansion strategy contributed significantly to its sales growth:
- Increased Production Targets: Bajaj Auto aimed to produce 10,000 Triumph units monthly by September, reflecting India’s robust demand for Triumph motorcycles. This increased production capacity allowed Triumph to effectively meet the growing demand.
- Expansion of Sales Network: Triumph, through its partnership with Bajaj Auto, plans to increase its sales network to 170 outlets by the end of the year and over 200 in the following year. This expansion is part of a strategic effort to enhance Triumph’s market penetration in the mid-size motorcycle segment.
4. Focus on the Premium Segment
Triumph capitalised on the growing premium motorcycle segment in India:
- Rising Disposable Incomes: The company leveraged increasing disposable incomes and shifting consumer preferences towards high-end brands. Triumph’s offerings were positioned to meet the aspirations of Indian riders seeking a blend of heritage, performance, and status.
- Market Share Target: Triumph aimed to capture up to 25% of the market share in the premium segment, which includes models with engine capacities that appeal to premium motorcycle enthusiasts.
5. Effective Marketing Strategies
Triumph employed targeted marketing strategies to enhance its brand presence:
- Localised Marketing and Branding: The company focused on building brand awareness through local events and sponsorships in India. This approach helped connect with the local audiences and enhance visibility.
- Anniversary Discounts: To celebrate the first anniversary of the Speed 400 and Scrambler 400X, Triumph offered special discounts, making these models even more attractive to potential buyers.
6. Favourable Market Conditions
- Overall Market Growth: The Indian two-wheeler industry recorded a 13% growth in domestic sales, reaching 17.97 million units in FY 2024. This overall market growth provided a favourable environment for Triumph’s expansion.
- The shift in Consumer Preferences: There has been a noticeable shift towards more fuel-efficient and versatile motorcycles, with a rising preference for premium brands. Triumph’s product offerings aligned well with these changing consumer preferences.
- Government Policies: While not directly benefiting Triumph, the Indian government’s support for sustainable transportation, mainly through incentives for electric vehicles, contributed to a dynamic and growing motorcycle market.
What factors led to Royal Enfield’s Significant Rise in two wheeler Sales in India in FY 2024 compared to 2023?
1. Rising Income Levels and Urbanisation
Royal Enfield’s sales growth in India is closely tied to the country’s economic development. As disposable incomes have increased, particularly among the middle class, more consumers have been able to afford premium motorcycles.
This trend has been incredibly beneficial, as its products are positioned for the mid-range to premium segments. Urbanisation has also played a crucial role in boosting motorcycle sales.
The rapid growth of cities has created a demand for efficient personal transportation that can navigate congested urban environments. Royal Enfield’s motorcycles, known for their manoeuvrability and fuel efficiency, have become a preferred choice for many urban dwellers.
2. Economic Growth and Consumer Confidence
India’s economic growth has provided a favourable backdrop for Royal Enfield’s expansion. Improved consumer confidence has encouraged people to invest in personal vehicles like motorcycles. Its products are often viewed as aspirational purchases that align with the growing prosperity of Indian consumers.
3. Efficient Manufacturing Process
Royal Enfield’s manufacturing strategy, centred around its production facilities in Chennai, has been crucial to its success. The company has focused on maintaining high standards of quality and efficiency in its manufacturing process.
This is essential for meeting the increasing demand for motorcycles. Royal Enfield’s commitment to quality has helped it maintain its reputation and meet customer expectations, contributing to its sales growth.
4. Robust Distribution Network
The company has developed a strong dealership network across India, which has been instrumental in its sales success. This network facilitates the sale of motorcycles and provides crucial after-sales services.
Royal Enfield’s distribution strategy has particularly effectively targeted urban and rural consumers. Royal Enfield slightly prefers urban markets due to higher purchasing power and lifestyle alignment.
5. Product Launches
Over the past decade, Royal Enfield has significantly diversified its product lineup to cater to a broader audience. The introduction of new models has been a key driver of sales growth:
- The Classic 350, launched in 2010, combined classic design with modern technology, appealing to new and existing customers.
- The Interceptor 650 and Continental GT 650, introduced in 2018, marked the brand’s successful entry into the modern middleweight segment.
- Recent launches like the Shotgun 650, Roadster 450, Bobber 350, and Scrambler 650.
6. Customisation Options
Royal Enfield has embraced the personalisation trend by offering customisable motorcycle options. This strategy has enhanced the customer experience and fostered a sense of community among owners, increasing brand loyalty and repeat purchases.
7. Legacy and Emotional Connection
Royal Enfield’s long history in India, dating back to 1949, has created a strong emotional connection with consumers. The brand’s vintage appeal and timeless designs have attracted a dedicated following, inspiring many to embrace motorcycling as more than just a mode of transport. This heritage has positioned Royal Enfield as a cultural icon in India, similar to Harley-Davidson in the United States.
8. Community Building and Lifestyle Association
Royal Enfield has successfully positioned itself as a lifestyle brand that resonates deeply with the aspirations of Indian motorcyclists. The company has actively fostered unity among riders through initiatives like Rider Mania and Royal Enfield Owners’ Clubs. These events bring together enthusiasts nationwide, creating a loyal customer base.
9. Targeted Marketing Campaigns
Royal Enfield has strategically targeted younger demographics, particularly urban millennials who value lifestyle and experiences. This pivot has involved comprehensive market research in identifying consumer preferences and behaviours.
10.Digital Presence and Social Media Engagement
The brand has established a strong digital presence, particularly on social media platforms like Instagram, Facebook, and YouTube. This strategy has significantly increased engagement and brand affinity, with the brand’s Instagram following reaching over 1.5 million followers. Using visually appealing content and user-generated stories has helped build a community of passionate riders.
11. Adventure and Exploration Narrative
Royal Enfield has successfully tapped into the spirit of adventure and exploration through its marketing campaigns. The brand has inspired riders to explore India’s diverse landscapes and embark on epic journeys.
Bike expeditions like the Himalayan Odyssey are an example. This narrative has redefined motorcycling as a means of escape and discovery, appealing to thrill-seekers and wanderers alike.
12. Dominance in the Premium Segment
Royal Enfield has maintained a dominant position in India’s premium motorcycle segment (350cc and above), with an 88% market share. This has driven sales growth and India’s go-to choice for premium motorcycles.
13. Strategic Partnerships and Global Expansion
Royal Enfield exported around 89.2 thousand motorcycles from India by the end of fiscal year 2023, significantly influencing the two-wheeler market. Its presence in over 60 countries has boosted sales and strengthened its premium positioning domestically.
What factors led to Aprilia’s significant rise in two wheeler sales in India in FY 2024 compared to 2023?
1. Strategic Product Launches
The Aprilia RS 457, introduced in December 2023, was the company’s first locally manufactured motorcycle in India, targeting the mid-capacity segment. The anticipation for the Aprilia Tuono 457, unveiled at EICMA 2024 and expected to launch in India by early 2025, likely attracted new customers and boosted sales for the brand.
2. Focus on Premiumization and Customer Experience
The company enhanced the premium customer experience at every stage, from purchase to after-sales service. Innovative features like an Auto-Guided Diagnostic tool and 24×7 roadside assistance boosted customer satisfaction and loyalty.
Opening Motoplex showrooms in major Tier 1 and 2 cities offered a premium retail experience, attracting discerning customers and setting Aprilia apart from mass-market competitors.
3. Expansion of Distribution Network
By the end of FY 2024, Aprilia planned to have around 10 Motoplex showrooms in major cities. The company selected 20 additional showrooms from over 200 outlets to retail the RS 457 in various cities.
This expansion strategy aimed to cover over 80% of the mid-performance two-wheeler market in India. The increased accessibility of Aprilia products across the country likely contributed to higher sales volumes.
4. Effective Marketing Strategies
A cinematic digital ad campaign featuring Bollywood actor John Abraham was launched. The campaign focused on the emotional aspects of riding rather than just product specifications.
The company invested in community-building initiatives, such as organising monthly rides for RS 457 owners and planning events like “Racers Day”.These marketing efforts likely increased brand awareness and created a stronger emotional connection with potential customers.
5. Favorable Market Conditions
The two-wheeler market in India increased to 18 million units in FY 24, up from 15.9 million units in the previous year. India’s economy was forecasted to expand by 6.9% in 2024, driven by substantial public investment and resilient private consumption. The ongoing urbanisation and improvements in infrastructure enhanced accessibility and convenience, driving demand for two-wheelers.
6. Strategic Shift Towards Motorcycles
Piaggio India, Aprilia’s parent company, strategically shifted its focus more towards Aprilia motorcycles. This shift aligned with evolving market trends and regulatory requirements, potentially allowing Aprilia to devote more resources and attention to its motorcycle lineup.
7. Investment in After-Sales Service
The introduction of the Auto Guided Diagnostic tool streamlined the service process. Offering 24×7 roadside assistance and a complimentary service package enhanced the overall ownership experience. The “RS Champions” program provided thorough training for service technicians, some of whom were trained online by experts from Italy.
8. Adaptation to Market Trends
The company’s focus on premium, technologically advanced models aligned with India’s growing demand for feature-rich two-wheelers.
Other related links from Bikeleague India
- Yamaha vs Honda vs Kawasaki : Comparing Bike Giants
- The top 10 bike brands dominating India’s market share
- BGauss
- YO Bykes
- Royal Enfield Classic 350
Conclusion
We hope you know about the two-wheeler sales data and report for top motorcycle brands in FY 2023 and 2024. If you have any questions or need more information about the two-wheeler sales data report for FY 2023 and 2024, please email us at bikeleague2017@gmail.com or leave a comment below. We’re always here and happy to help! However, don’t forget to check out Bikeleague India on our social media platforms to stay connected!
