Auto Sales May 2024: Honda Sales Jump 49% YoY, Building On Strong April

Honda Motorcycle & Scooter India (HMSI) reported a staggering 49% year-over-year increase in total vehicle sales compared to May, 2023. The company sold a total of 4,92,047 units, showcasing robust growth across both domestic and export markets. This builds on a strong April, 2024 performance, where Honda sold 3,94,147 units.

Domestic sales surged by 45 percent to reach 4,50,589 units in May 2024. Month-on-month growth compared to April 2024 was a healthy 32 percent. HMSI's export performance was even more impressive, with a massive 127 percent growth compared to May 2023. The company exported 41,458 units, showing the growing global appeal of Honda's scooters and motorcycles. However, exports did see a slight decline of 23 percent compared to April 2024.

While total sales and domestic sales showed strong growth compared to April 2024, exports experienced a decline. Domestic sales rose by a significant 32.1 percent, indicating continued momentum in the Indian market. Conversely, exports dropped by 23.3 percent compared to April 2024. This suggests there may have been some temporary fluctuation in export markets, despite the impressive year-over-year growth.

Honda in the last month launched the Sahara 300, in Brazil. This motorcycle replaces the XRE 300 and features a simpler, air-cooled engine for better fuel efficiency. It comes in three variants - Standard, Rally and Adventure. We do expect a product like this to be seen in India from Honda’s stable. Here’s more about it. Another product we expect is the 350cc scrambler motorcycle in India by the end of 2024. This bike is expected to compete with the Royal Enfield Scram 411 and Yezdi Scrambler, catering to the growing demand for scrambler motorcycles in the Indian market. Read more here.

Beyond the impressive sales figures, HMSI is investing in the future with a new R&D centre for electric vehicles in India. The company also celebrated milestones like the successful Shine 100 anniversary and 3 million satisfied customers for the Shine 125 and SP 125 in Eastern India. 

Overall, May 2024 proved to be a month of exceptional growth for Honda Motorcycle & Scooter India. The company's strong sales performance, coupled with its focus on electric vehicle development, network expansion, and social initiatives, positions HMSI for continued success in the Indian two-wheeler market.