TVS Motors registers robust growth in 2-wheeler sales; Hero MotoCorp and Bajaj Auto witness declines in Nov (YoY)
Dec 02, 2024
New Delhi [India], December 2 : The two-wheeler market in November 2024 displayed a mixed bag of performance, with TVS Motors achieving impressive sales growth, while Hero MotoCorp and Bajaj Auto reported year-on-year declines in domestic sales.
TVS Motors reported a robust 12 per cent increase in total two-wheeler sales, rising from 352,103 units in November 2023 to 392,473 units in November 2024. Domestic two-wheeler sales grew by 6 per cent, with sales climbing from 287,017 units to 305,323 units over the same period.
Breaking down the segments, TVS Motorcycles witnessed a 4 per cent growth, with sales increasing from 172,836 units in November 2023 to 180,247 units in November 2024.
Meanwhile, the scooter segment demonstrated remarkable performance, surging by 22 per cent, with sales rising from 135,749 units to 165,535 units, showcasing strong consumer demand.
On the other hand, Hero MotoCorp recorded a decline in its domestic sales. The company sold 439,777 units in November 2024, compared to 476,286 units in November 2023, marking a 7.7 per cent decrease.
This dip reflects a challenging market environment for the brand, potentially influenced by competitive dynamics and evolving consumer preferences.
Bajaj Auto also experienced a downturn in domestic two-wheeler sales. The company sold 203,611 units in November 2024, down from 218,597 units in November 2023, registering a 7 per cent decline. This marks a continued challenge in maintaining momentum within the domestic market.
The two-wheeler industry's mixed performance in November highlights contrasting trends. TVS Motors' growth, particularly in the scooter segment, indicates strong urban demand, whereas Hero MotoCorp and Bajaj Auto's declines point to potential headwinds in the competitive landscape.
