Good news before Diwali! China’s dominance ends, India leads in two-wheeler sales, know details

The Indian market has created a new record in terms of sales of two-wheelers. In fact, India has become the world’s largest two-wheeler market by surpassing China. The main reasons for this are increasing demand in rural areas, favorable monsoon conditions and government initiatives for rural development. According to Counterpoint Research, global two-wheeler sales are expected to grow 4% annually in the first half of 2024.

Specifically, India, Europe, North America, South America, West Asia and Africa recorded sales growth, while China and South-East Asia recorded sales declines. Honda has retained its first position in the global two-wheeler market. This is followed by Hero MotoCorp, Yamaha, TVS Motor and Yadia. The top-10 global two-wheeler manufacturers accounted for over 75% of total sales in the first half of the current financial year, responding to caste comments on people of Indian origin and gaining share. TVS Motor was the fastest growing brand among the top 10 brands. There has been an increase of 25% on annual basis.

Senior analyst Somane Mandal said on the occasion that India’s two-wheeler market has grown by 22% in the first half of this year. This strong performance, he said, helped India overtake China and become the world’s largest two-wheeler market. Two-wheelers in India witnessed strong double-digit growth (y-o-y) in the second quarter of this financial year. Two-wheelers under 125cc are popular in China, but people are now choosing e-cycles over motorcycles and scooters for commuting.