Two-Wheeler Makers Report Robust Growth in April Outperforming PVs Sale

New Delhi, May 3 (KNN) India's leading two-wheeler manufacturers reported strong double-digit growth in their domestic wholesales in April 2024 compared to the same month last year, outperforming the passenger vehicle segment which saw low single-digit growth.

Market leader Hero MotoCorp dispatched 5,13,296 units to dealers in April, a 33 per cent jump from 3,86,184 units a year earlier. Overall, the company sold 5,33,585 units including exports, up 35 per cent year-on-year.

Honda Motorcycle & Scooter India (HMSI) saw an even bigger 42 per cent rise in domestic sales to 4,81,046 units from 3,38,289 units in April 2023.

HMSI's total sales of 5,41,946 units marked a 45 per cent increase, surpassing Hero's overall number for the month.

Bajaj Auto reported a 19 per cent growth in domestic sales of its Pulsar and other models to 2,16,950 units from 1,81,828 units a year ago.

TVS Motor Company dispatched 3,01,449 units to local dealers, up 29 per cent from 2,32,956 units.

Suzuki Motorcycle India posted a 31 per cent rise in domestic sales to 88,067 units, while Royal Enfield's sales of its Himalayan and other models grew 9 per cent to 75,038 units.

The robust demand for two-wheelers underscores the continued preference for personal mobility among cost-conscious Indian consumers amid high inflation and interest rates.

Analysts expect the momentum to continue in the coming months as well.

(KNN Bureau)