Indian Motorcycles Market skyrockets in 2024. Domestic sales scored a memorable 2024, hitting the new all-time record and the highest level ever achieved by a single market worldwide, with 20.5 million sales (+16.6%).
Data reported for India regards wholesales and not – as for all the other countries – registrations. The perimeter of data covered includes motorcycles, moped, scooter, and ATV, both on ICE and electric engines. In addition, data includes the commercial three wheeler, very popular in the country.
India’s economy is forecast to expand by 6.9% in 2024 and 6.6% in 2025, mainly driven by strong public investment and resilient private consumption. Although subdued external demand will continue to weigh on merchandise export growth, pharmaceuticals and chemicals exports are expected to expand strongly.
In such positive environment, the two-wheeler industry keeps expanding with fast growing data both for domestic and export market.
Domestic market, the largest worldwide, is in a great shape fueled by the growth of electric segment and even by the resilience of ICE models, confirming the key rule of the industry in the Indian individual mobility, with ner 1.5 billion people living in a country still poor of transportation infrastructures.
Ending the year with a great December performance (1.57 million sales, +24.8%), the 22nd consecutive growing month, the Indian 2-wheeler market scored a memorable 2024, hitting the new all-time record and the highest level ever achieved by a single market, with 20.5 million sales (+16.6%). A very outstanding speed for the largest market in the world.
Sales are growing 22.3% for scooters and 13.3% for motorcycles. The scooter segment faster pace is explained by the additional push of electric segment, with L1 models losing 4.1%, while L3 up a really strong 60.4% with total EV sales at the record of 1.3 million.
Hero-XF3R
Looking at top manufacturers performance, Hero is still on top, sales at 5.6 million (+6.0%). Hero has consolidated its rule as second largest manufacturer worldwide.
After the last year difficulties, in second place Honda is now taking off with 5.5 million sales (+35.5%) and is challenging for the leadership.
The battle between Hero and Honda for the leadership will be the great even of the 2025.
In third place TVS Motor is shining again with a huge growth (+13.2%) at 3.4 million sales, driven up by the success of the only electric scooter in the line up (the iQube (+38%) and by the recently introduced Jupiter 125 (+179.6%) the top selling model for the brand.
In fourth place Bajaj Auto is still confirming momentum with 2.35 million sales, up 13.4%.
Recording the best performance ever, Suzuki advanced in 5th place hitting the 1 million sales milestone (+17.3%).
Behind at record even Royal Enfield with 857.381 sales (+4.3%) followed by Yamaha (+22.4%) and by the first EVs specialist, Ola (+68.4%).
