Honda Overtakes Hero in Indian Two-Wheeler Market

In a significant development in the Indian two-wheeler market, Hero MotoCorp has been dethroned from its long-held top position in domestic sales. The homegrown manufacturer has been overtaken by its former partner, Honda Motorcycle and Scooter India (HMSI).

Honda Becomes New Hero in Indian Two-Wheeler Market

Data released by the Society of Indian Automobile Manufacturers (SIAM) shows that Honda has surpassed Hero MotoCorp in wholesale dispatches for the April-July period of this year. This marks the first time in 13 years, since the two companies parted ways after a 26-year partnership, that Honda has outpaced Hero MotoCorp in domestic sales.

Topples Hero MotoCorp

SIAM’s figures indicate that Honda dispatched 18,53,350 two-wheelers between April and July 2024, while Hero MotoCorp dispatched 18,31,697 units during the same period. This translates to Honda outselling its closest competitor by 21,653 units. The difference widens to over 1.30 lakh units when export numbers are included. Notably, in the same period in 2023, Honda dispatched 12,63,062 units compared to Hero MotoCorp’s 16,88,454 units.

Hero MotoCorp Holds Retail Top Spot

While Honda has overtaken Hero MotoCorp in wholesale numbers, Hero MotoCorp maintains its lead in retail sales. Data from the Federation of Automobile Dealers’ Associations (FADA) shows that Hero MotoCorp retailed more than 17.5 lakh two-wheelers between April and July, compared to HMSI’s nearly 2.5 lakh units.

Honda’s Market Share Grows

Another notable trend in the Indian two-wheeler market is the growth of Honda’s market share. HMSI’s market share has increased from just under 20% in April 2024 to 24.3% in July 2024. In contrast, Hero MotoCorp’s market share has declined from over 33% in April 2024 to 29.4% in July 2024.

The Indian two-wheeler market is witnessing a significant shift in dynamics. Honda’s overtaking of Hero MotoCorp in wholesale dispatches signals a changing landscape, with Honda’s growing market share and Hero MotoCorp’s declining share further highlighting this trend. While Hero MotoCorp retains its lead in retail sales, the coming months will reveal whether this lead can be sustained in the face of Honda’s growing momentum. It’s clear that the competition in the Indian two-wheeler market is heating up, and consumers can expect exciting times ahead.