Just before the holiday season, Honda Motorcycle and Scooter India became the biggest two-wheeler manufacturer in India when retail sales for September 2024 surpassed Hero MotoCorp.
Honda secured a 27.73% market share, while Hero MotoCorp kept a 22.54% share, thanks to the sale of 62,537 more motorcycles and scooters.
This data has been confirmed by the Federation of Automobile Dealers Associations (FADA).
Read on to find out all the details!
Honda Motorcycle Becomes Biggest Two Wheeler Manufacturer; Surpasses Hero Motocorp
September 2024 saw drops in retail sales for both businesses. Hero MotoCorp experienced a more severe 22.95% loss in retail sales, with 271,390 units sold, compared to Honda’s 4.53% year-over-year decline to 333,927 units.
With 86.57% of the market, TVS Motor, Bajaj Auto, and Suzuki Motorcycle India completed the list of the top five two-wheeler manufacturers.
Hero MotoCorp continued to lead in wholesale sales even if Honda led in retail sales.
In September 2024, Hero’s wholesale sales climbed by 18.75% year over year to 637,050 units, while Honda’s saw an 11% increase to 583,633 units.
Hero MotoCorp was the leader in total retail and wholesale figures for the first half of the 2025 fiscal year. Hero’s retail sales reached 2,386,991, which was 189,432 more than Honda’s 2,197,559 units.
Hero MotoCorp only topped Honda’s 2,928,661 units in wholesales over the same time, having despatched 2,961,010 units.
Hero-Backed Ather Files Rs 4000 Crore IPO
Ather Energy, the Bengaluru-based electric scooter manufacturer, is gearing up for an Initial Public Offering (IPO), targeting a valuation of $2-2.25 billion (₹16,800-19,000 crore). The company, which is backed by Hero MotoCorp, plans to raise ₹3,500-4,000 crore through the IPO, which will include both a fresh issue and an offer for sale by existing shareholders. A portion of the funds raised will be allocated for capacity expansion.
