Honda 2W sales grew significantly both in domestic and global markets in January 2024
Honda Motorcycle and Scooter India (HMSI) sales in January 2024 stood at a total (domestic + export) of 4,19,395 units. This was a 41.51 percent YoY growth over 2,96,363 units sold in January 2023 relating to a 1,23,032 unit volume growth. Setting off the New Year on a promising note, the company has seen growth both in domestic and global markets.
Honda 2W YoY Sales January 2024
Honda 2W sales which grew at 41.51 percent YoY in January 2024 at 4,19,395 units saw domestic sales at 3,82,512 units, up 37.52 percent over 2,78,143 units sold in January 2023. This was volume growth of 1,04,369 units with domestic sales commanding a 91.21 percent share.
Exports however, saw an even higher percentage growth by 102.43 percent with a total of 36,883 units shipped in January 2023, up from 18,220 units exported in January 2023. This was a volume growth of 18,663 units with exports taking up an 8.79 percent share.
On a MoM basis, Honda 2W sales saw a 32.25 percent growth to 4,19,395 units. This was a volume growth of 1,02,272 units over 3,17,123 units sold in December 2023. Here too there has been a significant increase both in domestic sales and exports. Domestic sales were up 33.70 percent MoM to 3,82,512 units from 2,86,101 units relating to a 96,411 unit volume growth with a 90.22 percent share. Exports were up 18.89 percent from 31,022 units shipped in December 2023 with a 5,861 unit volume growth and 9.78 percent share.
Honda 2W recent updates
The company achievements during January 2024 also included the inauguration of a 3rd assembly line at Vithalapur in Gujarat with a capacity of 6.5 lakh units. Honda also inaugurated a new sales and service outlet at Rajkot in Gujarat while Honda has been in attendance at the Bharat Mobility Expo 2024 Show with an electric scooter and Flex Fuel motorcycle.
Speaking about the Flex Fuel technology, the motorcycle will run on flex fuel which is a blend of ethanol and gasoline. The two wheeler maker has modified the CB300F that can run on flex fuel. This is not the first time that the company has made a flex fuel bike, as the company has sold several such flex fuel powered bikes in Brazilian markets.
The company also commenced 2024 with an exciting new launch. The Honda XN500 has been launched at Rs 5.9 lakh (ex-showroom). It is presented in 3 colour options of Grand Prix Red, Matte Gunpowder Black Metallic and Pearl Horizon White and sold via the company’s BigWing dealerships. Bookings are open now for Rs 10,000 exclusively at Honda’s BigWing dealerships while deliveries are set to commence by February 2024.
