Bajaj in the Lead
Hero and Honda are the top-selling brands in the two-wheeler market. Looking at the export data for April 2024, Bajaj is in the lead. During this period, Bajaj has succeeded in securing the top position in the exports of two-wheelers with a year-on-year increase of 17.60 percent with a total of 1,24,839 units. In April 2023, precisely one year previous, Bajaj exported 1,06,157 two-wheeler units. Let’s examine the top six two-wheeler exporting businesses in more detail.
TVS Secured second palace
TVS has been at second place in the two-wheeler export list. TVS exported 73,143 two-wheelers during this time, growing at a rate of 18.30 percent per year. In April 2023, precisely one year prior, TVS exported 61,830 two-wheeler units.
In relation to its best-selling Activa scooter, Honda offers a variety of reasonably priced bikes, such as the Shine. Honda sold 5,41,946 two-wheelers in April alone. This represents a 1,67,199 unit increase from April 2023. Comparing this year to last, exports have increased by 67% and domestic sales have increased by 42%.
Industry Insights: Hero’s Growth, Honda’s Expansion, and Competitor Performance
Hero saw a year-on-year increase of 34.71 percent by selling 5,33,585 two-wheelers last month. Along with this, Honda is expanding its dealership network. Recently, Honda has opened new BigWing dealerships in Uttar Pradesh, Maharashtra, and New Delhi. Looking at the sales of other major two-wheeler manufacturers, TVS Motor had secured the third position with 3,74,592 units sold in April 2024, with a growth of 27.07 percent. Following Honda and Hero, Bajaj Auto Limited and Suzuki Motorcycle India Private Limited are in the next two positions.
Hero MotoCorp, meanwhile, comes in at number four on this export ranking. Hero MotoCorp exported 20,289 two-wheelers last month, a 104.46 percent increase in comparison to the previous year. In April 2023, precisely one year previous, Hero MotoCorp shipped a mere 9,923 motorcycles. With 11,310 two-wheeler exports overall, Suzuki is ranked fifth in this export list and has seen a 47.33 percent decrease in sales year over year. Royal Enfield maintained its sixth-place ranking by exporting 6,832 two-wheeler units, a 60.56 percent year-over-year increase. In April 2023, Royal Enfield exported 4,255 two-wheeler units during this time.
