Indian two-wheeler giants celebrated a strong sales surge this October, propelled by festive buying. Domestic sales for major manufacturers like TVS Motor Company, Hero MotoCorp, and Royal Enfield soared, experiencing growth rates between 13 per cent and 26 per cent, fueled by consumer enthusiasm during the festive period.
TVS Motor Company led the season's performance with a 13 per cent year-on-year (Y-o-Y) rise in domestic sales, delivering 3,90,489 units in October compared to 3,44,957 units last year. Beyond traditional models, TVS also recorded an impressive 45 per cent growth in electric vehicle (EV) sales, signaling a robust interest in sustainable transport options among Indian consumers.
Hero MotoCorp, the world’s largest two-wheeler manufacturer, reported a 17.4 per cent Y-o-Y increase in domestic sales, boosted by its "Grand Indian Festival of Trust" campaign. The company saw record-high Dhanteras sales, tapping both urban and rural markets, particularly in popular segments like 100cc and 125cc motorcycles. Hero's October sales reached 6,57,403 units.
Royal Enfield also rode the festive wave to achieve its highest-ever monthly domestic sales, rising by 26 per cent to 1,01,886 units, a jump from 80,958 units in October 2023. This growth reflects the brand’s strong demand for its Classic model and new additions during the festival season.
Bajaj Auto, however, saw an eight per cent drop in domestic sales, with 2,55,909 units sold. The company’s expectations were dampened by lower-than-anticipated demand during Dussehra, with growth at only two per cent rather than the forecasted six to eight per cent. Rakesh Sharma, Bajaj Auto’s executive director, pointed to "factors like delayed monsoon and elections" as potential influences, adding, “Demand in the southern and eastern regions has been muted, while the central and northern areas have shown some resilience.”
Two-wheeler exports also saw encouraging growth, indicating strong international demand. TVS Motor recorded a 16 per cent increase in exports to 87,670 units, while Hero MotoCorp saw exports rise by 43 per cent. Bajaj Auto recorded a 24 per cent growth in export sales, reaching 1,58,463 units in October. Royal Enfield led export growth with a remarkable 150 per cent increase, propelled by expanding markets in South Asia and Latin America.
Overall, the October sales surge reaffirms India’s growing demand for two-wheelers, even as companies eye both domestic and global markets to sustain momentum.
