Following our earlier report on two wheeler retail sales in FY2024, we now assess the top 10 models that garnered the most attention. New and updated models, improved market trends, favorable government policies and improved rural purchases pushed up sales in the past fiscal.
Two wheeler sales grew by 11.48% YoY in FY24 to 1,24,18,128 units, up from 1,11,38,889 units sold in FY23. This was a volume growth of 12,79,239 units. The world’s largest two wheeler maker, Hero MotoCorp had the Splendor as its best-selling model in FY24 while it was also the company’s top selling model through each of the 12 months. Splendor sales improved by 1.15% YoY to 32,93,324 units in the FY24 period, a growth of 37,580 units over 32,55,744 units sold in FY23. The Splendor currently commands a 26.51% share on this top 10 list.
Honda Activa was the next top selling two wheeler in FY24 with 22,54,537 units sold during the 12 month period, a 4.88% growth when compared to 21,49,658 units sold in FY23. Currently holding an 18.16% share in the top 10 list, the Activa could soon receive an electric variant as most two wheeler makers in India are exploring this route to boost sales. Also from the Honda stables was the Shine. Sales of this commuter bike increased by 22.66% on a YoY basis to 14,82,957 units in FY24 from 12,09,025 units sold in FY23. This related to a YoY volume growth of 2,73,932 units.
Bajaj Pulsar has seen a notable increase in sales in FY24 to 14,10,974 units, up 37.11% when compared to 10,29,057 units sold in FY23. The company is continually expanding its Pulsar range either with new models or updating existing models. Recently it was the 2024 Pulsar N250 which has been launched with several feature updates. Soon we will get Pulsar 400.
Reporting marginally lower YoY sales was the Hero HF Deluxe which dipped 1.70% t0 10,34,178 units in FY24 down from 10,52,043 units sold in FY23. Lower down the sales list was the TVS Jupiter with a 15.81% hike in sales in FY24 to 8,44,863 units, up from 7,29,546 units sold in FY23. This was volume growth of 1,15,317 units with the Jupiter commanding a 6.80% share on this list.
Suzuki Access scooter has posted a 27.21% YoY improvement in sales to 6,34,563 units in FY24. The new Suzuki Access 125 facelift has just been detailed with a host of improved features and updated technology that will allow it to compete even better with rivals such as the Honda Activa 125, TVS Jupiter 125 and Hero Destini 125.
While Bajaj Platina sales dipped to 5,02,486 units in FY24, sales of TVS XL were up 9.11 percent to 4,81,803 units on a YoY basis. It was the TVS Raider that has noted the most YoY growth in FY24 by as much as 99.86% to 4,78,443 units, up from 2,39,388 units sold in FY23.