The Indian two-wheeler market witnessed a massive month-on-month growth of 49.05% in November 2023, with sales increasing from 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, because during this time festivals like Dhanteras and Diwali come, in which buying a vehicle is considered auspicious. A recent report states that this season also good sales of two-wheelers were recorded in rural areas.
TOI’s Report According to , the two-wheeler market has witnessed a significant growth of 49.05% month-on-month and 21.08% year-on-year in November 2023. Compared to the same month last year, an additional 3.91 lakh two-wheelers were sold. However, this growth may face challenges as according to information from the Federation of Automobile Dealers Association (FADA), adverse weather conditions affecting Rabi cultivation could impact rural incomes, leading to a decline in future sales. There may be a decrease.
The report states that Hero Motocorp, one of the country’s top two-wheeler manufacturers, maintained its dominance as the country’s top two-wheeler manufacturer and achieved a market share of 35.7% with sales of 8,02,234 units. have achieved. Whereas, Honda Motorcycle and Scooter India (HMSI) sold 5,12,865 units and stood at second position.
TVS Motors took 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 took the fourth position in the market. Bajaj has sold 62,790 units more than in the same month last year.
The two-wheeler industry achieved an all-time high in sales, taking the Indian auto retail industry to a total of 28.54 lakh vehicles in November. This has surpassed the previous high recorded in March 2020 during the transition from BS4 to BS6.