The Japanese two-wheeler manufacturer which launched its first flex-fuel motorcycle in India recently is bullish about the festive season to drive industry growth, primarily in the 125cc motorcycle and scooter segments.
23 Oct 2024 | 3602 Views | By Mayank Dhingra
Japanese two-wheeler giant's Indian arm Honda Motorcycle & Scooter India (HMSI), is bullish about the festive season to continue the growth momentum in the two-wheeler segment that has been registering strong recovery in CY2024. After peaking in FY2018-19, the two-wheeler category was badly hit in Covid due to buyer affordability challenges, and ...
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Japanese two-wheeler giant's Indian arm Honda Motorcycle & Scooter India (HMSI), is bullish about the festive season to continue the growth momentum in the two-wheeler segment that has been registering strong recovery in CY2024. After peaking in FY2018-19, the two-wheeler category was badly hit in Covid due to buyer affordability challenges, and despite sales recovery, still continue to remain below pre-Covid levels.
Two-wheeler sales in the January-August 2024 period recorded a notable 16% YTD growth, with scooters being the primary growth drivers at over 24% YTD surge. Motorcycles, on the other hand, registered around 13% YTD growth, and as per Yogesh Mathur, Director, Sales & Marketing, HMSI, "The growth is primarily being led by the 125cc class - both scooters and motorcycles."
Mathur believes that the industry is likely to witness the growth continuing in the festive season. "As we are on the cusp of the festive season, which is concentrated in just a single month (October) in CY2024, we have our fingers crossed for October numbers. We expect good retail coming this month," he says.
"We will continue to excite our consumers with best-of-class products and services through our over 6,400 outlets across India. Moreover, our revamped product portfolio, which, with the OBD 2.0-A transition, has seen the introduction of refreshed Shine 100, Dio 125, and SP 160, has also been contributing to the growth in HMSI's numbers," Mathur says in this video.
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