Honda Motorcycle & Scooter India (HMSI) has overtaken Hero MotoCorp Ltd in monthly two-wheeler dispatches to the domestic market, securing the leading position in February.
The automaker also made significant progress in closing the gap with India's largest two-wheeler manufacturer Hero MotoCorp, which is sitting on its lowest-ever market share.
The Indian unit of the Japanese auto giant, which recently said it is well within reach of the largest market share in India, dispatched 3.84 lakh two-wheelers in the domestic market in February, while Hero MotoCorp dispatched 3.57 lakh two-wheelers.
Before February, Honda outpaced Hero MotoCorp in monthly domestic sales during July and August of this financial year.
Cumulatively, Hero MotoCorp continues to be the top player in the domestic market this financial year, but Honda has significantly narrowed the gap.
Hero MotoCorp’s domestic dispatches during April- February were at 51.02 lakh units, while Honda’s domestic market dispatches came in at 49.25 lakh units.
The gap between Hero MotoCorp and Honda stands at 1.77 lakh units in the current financial year, significantly down from 8.90 lakh units in the year-ago period.
Hero MotoCorp’s market pressure has come under tremendous pressure this financial year as the weak market demand in its core entry level motorcycle segment.
The revival in scooter sales in recent years, and the incremental volumes by Shine 100 and some premium models have helped Honda reduce the gap.
The automaker’s share in the domestic market wholesale volume declined to 28.6% during the April- December period from 30.2% during the financial year 2024. On the other hand, Honda’s share improved to 27.2% from 25.2% during the period.
Recently, Minoru Kato, the head of the Motorcycle business at Honda Motor Company, said the Japanese two-wheeler major is well within reach of “the largest market share in India."