In a surprise upset, Honda Scooter & Motorcycles India (HMSI) has pipped Hero MotoCorp's market leadership to emerge as India's Number One two-wheeler maker, as per data from the Vahan portal.
Despite Hero MotoCorp reporting a 0.4 percent increase in wholesale to 5,07,690 units on September 22, from 5,05,462 units on September 21, India's largest two-wheeler maker lost its Number One spot to HMSI as per the retail sales information provided by Vahaan data.
Vahan data has clearly stated that HMSI's sales shot up by 2,84,400 units as against Hero's 2,51,939 units upping HMSI's market share to 28 percent. On September 22, HMSI registered net wholesales stood at 4,88,924 units.
The battle between Hero MotoCorp and Honda in terms of retail volume margins that stood at an all-time high of 1.70 lakhs on May 22, started to narrow down to 53,356 units in July, and further slimmed down to 20,658 units in August this year. The most interesting slugfest seen in the market has been the tug of war between the two giants. The Honda Activa was seen giving the Hero Splendor some heavy competition. The reason for this is the opening of schools and colleges, higher MNREGA spending from the government increasing disposable incomes at the farm level and middle-income groups preferring a gearless scooter over a geared one.
Honda smartly increased its footprint to its Red Wing & Big Wing dealerships while electric two-wheeler makers were clawing into its traditional 'Splendor' segment by introducing a slew of models at the sweet spot of Rs 60,000 to Rs 90,000 price range.
HMSI expanded its regular dealerships dubbed the RedWing Dealerships with added presence in Rampur (Uttar Pradesh), Mohali (Punjab), and Nalbari (Assam). At the same time, in the premium segment, the company expanded its BigWing network with new Honda BigWing outlets in Agra (Uttar Pradesh), Jorhat (Assam), and Gaya (Bihar).
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