HMSI reported strong domestic and export figures in November 2024 and also marked their entry into the electric mobility segment with Activa e: and QC1
Honda Motorcycle & Scooter India (HMSI) has reported a 5.56% YoY growth with both domestic sales and exports on the rise. The company sold a total (domestic + exports) of 4,72,476 units in Nov 2024, a 24,900 unit volume increase over 4,47,849 units sold in Nov 2023. Its month-on-month (MoM) sales however, saw a drastic decline by 20.91% from 5,97,711 units sold in Oct 2024.
Honda 2W YoY Sales Nov 2024
Honda sales in Nov 2024 were boosted by models such as the Activa, Shine and Duo with 4,32,888 units sold in domestic markets. This was a 2.90% YoY growth over 4,20,677 units sold in Nov 2023. It related to a 12,211 unit volume increase with domestic sales commanding a 91.57% share.
Exports of the company also improved dramatically by 46.70% in Nov 2024. The company exported 39,861 units last month, a substantial improvement over 27,172 units shipped in Nov 2023. Exports hold an 8.43% share.
Honda 2W MoM Sales Decline in Nov 2024
Following outstanding performance on a YoY basis, Honda suffered a massive MoM decline in sales post the festive season. In domestic markets, sales dipped by 21.74% from 5,53,120 units sold in Oct 2024. This related to a 1,20,232 unit volume de-growth. However, a more optimistic future is predicted with introduction of the new Activa e: and QC1 in the electric two wheeler segment and a bevy of upcoming bikes in the larger segment being planned for launch in a phased manner through 2025.
Exports too suffered a MoM setback by 10.61% as there had been 44,591 units shipped in Oct 2024. This was a 4,730 unit volume decline. With lower domestic sales and exports, total sales went down by 20.91% MoM to 4,72,749 units. This was a 1,24,962 unit volume decline when compared to 5,97,711 units sold in Oct 2024.
Key Highlights In November 2024
Keen to compete efficiently in the growing electric two wheeler market in India, Honda unveiled two new offerings in Nov 2024. The Activate e: and QC1 marked their entry into the electric arena. Bookings for Activa e: and QC1 are scheduled to commence from January 1, 2025 while deliveries are slated to be effected from February 2025.
In order to ensure quicker deliveries, Honda’s new electric scooters will initially rolled out in cities of Delhi, Mumbai and Bengaluru. A roll out in a phased manner is being planned to other cities at a later stage. Both the e-scooters will be sold via Red Wing dealerships and a separate space exclusively for electric scooters has been created.
Honda also plans to expand their portfolio to include larger bikes in the 650cc, 750cc and 1000cc segments. These will include the CB 650R, CBR 650R, CB 750 Hornet, CB 1000 Hornet and X-ADV maxi-scooter. Each of these bikes are planned for launch sometime in 2025. Each of these bikes are expected to come in as CBU (completely built-up) products and will be exclusively on sale via the brand’s BigWing Topline dealerships. Premium pricing is expected considering the higher taxes and duties.
