Indian Two Wheeler Market Grows by 49 Percent in November 2023 Highest Ever Sales Recorded Hero Motocorp on Top

The Indian two-wheeler market witnessed a massive growth of 49.05% month-on-month in November 2023, with sales increasing to 22.47 lakh units as compared to 15.08 lakh motorcycles and scooters sold in October 2023. One of the main reasons for this could be the festive season, as festivals like Dhanteras and Diwali fall during this period, in which buying a vehicle is considered auspicious. A recent report states that this season too, good sales of two-wheelers were recorded in rural areas.

TOI’s Report According to the , the two-wheeler market witnessed a significant growth of 49.05% month-on-month and 21.08% year-on-year in November 2023. 3.91 lakh additional two-wheelers were sold as compared to the same month last year. However, this growth may face challenges as, according to information from the Federation of Automobile Dealers Associations (FADA), adverse weather conditions affecting Rabi cultivation may impact rural incomes, which may reduce future sales.

The report states that Hero Motocorp, one of the top two-wheeler manufacturers in the country, maintained its dominance as the top two-wheeler manufacturer in the country and achieved a market share of 35.7% with sales of 8,02,234 units. At the same time, Honda Motorcycle and Scooter India (HMSI) sold 5,12,865 units and stood second.

TVS Motors has secured the third position with combined sales of 3,65,295 motorcycles and scooters during this period, while Bajaj Auto sold 1 lakh units in November and secured the fourth position in the market. Bajaj has sold 62,790 units more than the same month last year.

The two-wheeler industry has achieved an all-time high in sales, taking the Indian auto retail industry’s total sales to 28.54 lakh vehicles in November. This surpassed the previous high recorded in March 2020 during the transition from BS4 to BS6.