Honda Motorcycles & Scooters India sales rose by 43% YoY, registers retail sales of 4,83,100 in July

HMSI sales surge in July: Honda Motorcycles & Scooters India has reported a 43 per cent growth in domestic sales for July 2024, with 4,39,118 units dispatched to dealers as compared to 3,10,867 units in the same month last year. This growth in retail sales domestically has overtaken Hero MotoCorp's two-wheeler sales in July 2024. Since Hero MotoCorp has been a market leader, Honda Motorcycles & Scooters India surpassed Hero MotoCorp by 1,12,726 units in July 2024. For the first time, Honda has overtook Hero MotoCorp in retail sales for the domestic market. 

Despite the growth in domestic sales on a year-on-year basis, Honda Motorcycles & Scooters India has experienced a significant growth in exports as well. The shipments were recorded at 43,982 units in July 2024 from 27,443 units in the previous year. This has resulted in a growth of exports by 60.27 per cent. This substantial growth in export volumes emphasises HMSI’s expanding international footprint and its commitment to global markets.

Since the retail sales domestically were recorded at 4,39,118 units, there was a marginal decline as well recorded at 9.01 per cent, falling short by 43,479 units on a month-on-month basis. The exports in this period recorded a surge of 21.49 per cent, having extra support of 7,780 units. The manufacturer did not provide specific reasons for the decline in sales on a month-on-month basis but noted that it is closely monitoring market conditions. Overall, there was a decline recorded on a month-on-month basis, registering 6.88 per cent. 

Total sales for the period of April 2024 to June 2024 were recorded at 20,36,292 units, including both exports and domestic sales. It recorded a surge of 49.01 per cent on a year-on-year basis. The exports during this period were recorded at 1,03,487 units, recording a noticeable rise of 76.78 per cent on a year-on-year basis.