In Q1 FY2025, Hero MotoCorp retained its top position in India's two-wheeler market, thanks to the remarkable sales of the Splendor and HF 100 models, and saw overall motorcycle sales growth across various segments.

Hero MotoCorp Dominates Q1 FY2025 Two-Wheeler Sales

In the first quarter of FY2025, the two-wheeler segment showcased a robust performance, with motorcycles leading the charge. A total of 3.19 million motorcycles were sold, marking a 17 percent year-on-year growth. Within this, the commuter motorcycle segment exemplified remarkable sales figures, pushing forward with a staggering 15,03,398 units sold, which reflects a 12 percent increase compared to the previous year.

Hero MotoCorp continues to be the market leader, securing its position by selling 1.39 million units, achieving a 13 percent growth. Notably, the company reported that its market share dipped slightly to 43.74 percent, down from 45.02 percent year-on-year. The Hero Splendor, along with the HF Deluxe and Passion Plus, contributed significantly to these sales, accounting for a substantial 85 percent of Hero's total dispatches in this quarter.

Performance of Key Motorcycle Segments

In the broader motorcycle landscape, the 110-125cc executive bike segment witnessed 9,13,793 units sold, equating to a 19.62 percent growth. Meanwhile, the 150-200cc category also performed well, with 3,34,207 units sold, registering a robust 21 percent increase.

While the 125-150cc segment skyrocketed by 64 percent to reach 1,74,934 units, sales in the 250-350cc category plunged, seeing a decline of 3.5 percent year-on-year with only 1,95,129 units sold.

Competitive Landscape

Among competitors, Honda Motorcycle & Scooter India (HMSI) emerged as the fastest-growing manufacturer, achieving a 71 percent year-on-year growth, thus rising its market share to 19 percent. The entry-level Shine 100 and CD110 Dream models saw significant sales, doubling in performance. In stark contrast, Bajaj Auto, India's third-largest motorcycle vendor, reported a modest 3 percent growth with 5,38,643 units sold.

Additionally, TVS Motor Company recorded an 8 percent increase in sales, pushing 3,18,975 motorcycles into the market, while Royal Enfield faced a minor setback with sales dropping to 2,04,686 units, indicating a 1 percent decline.

Future Outlook

The motorcycle and overall two-wheeler industry are poised for future growth, with strategic policies in the Union Budget 2024 aimed at bolstering income in rural India, thereby fostering demand for commuter motorcycles. Enhanced personal income tax benefits could also spur growth in the executive bike segment.

Stay tuned for more updates regarding how these trends shape the upcoming months for the motorcycle market in India.