The Chennai-based company has been the only brand that can claim to be on the up and up in recent months, while Honda has seen a year-on-year growth, while sequentially declining. Hero has seen sequential growth, but fallen year on year.
05 May 2025 | 872 Views | By Shruti Shiraguppi
The Indian two-wheeler market has witnessed notable shifts in brand market shares over the nine-month period from August 2024 to April 2025, with TVS Motor emerging as the only true winner.
Hero MotoCorp, while maintaining its position as market leader, has experienced a ...
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The Indian two-wheeler market has witnessed notable shifts in brand market shares over the nine-month period from August 2024 to April 2025, with TVS Motor emerging as the only true winner.
Hero MotoCorp, while maintaining its position as market leader, has experienced a year-on-year market share contraction trend, but seen sequential improvements in recent months. In recent months, it has gone from 26.80% market share in August 2024 to 30.34% in April 2025. However, this represents a year-over-year decline from 31.06% in April 2024. This trend suggests Hero is facing increasing competitive pressure despite maintaining its top position.
Honda Motorcycle and Scooter India (HMSI) has shown a slight decline in its market position, with its share dropping from 26.35% in August 2024 to 24.08% in April 2025, partly because of an upswing in rural sales in the agricultural new year.
This gradual erosion reflects the heightening competition in the scooter segment where Honda has traditionally held a strong position. Honda's late entry into the electric two-wheeler segment, with its EV scooters still being relatively new to the market and yet to gain significant traction, may be contributing to this decline as competitors gain ground in the growing electric mobility space.
TVS Motor Company experienced a slight increase in its market share from 17.68% in August 2024 to 18.34% in April 2025. TVS's robust electric scooter portfolio, which has been in the market longer and gained consumer acceptance, may have contributed to this relative stability in a volatile market. The company's early commitment to electric mobility appears to be paying dividends as the market gradually shifts toward alternative powertrains.
Bajaj Auto has seen its market share contract slightly, moving from 11.14% in August 2024 to 10.85% in April 2025, representing a year-on-year decline from 11.90% in April 2024. The company has struggled to maintain its position amid intensifying competition in its core segments.
Royal Enfield has improved its niche position in the premium motorcycle segment, with its market share growing from 4.10% in August 2024 to 4.75% in April 2025. This growth in a smaller but higher-value segment highlights the brand's resilience despite overall market challenges.
Suzuki Motorcycle India experienced a reduction in market share from 5.93% in August 2024 to 5.44% in April 2025, though this still represents growth compared to the previous year. This fluctuation suggests an uneven performance in a challenging market environment.
A notable trend affecting traditional manufacturers has been the fluctuating presence of electric two-wheeler brands. Ola Electric saw a significant market share decline from 2.06% in August 2024 to 1.17% in April 2025, which also represents a decrease from 2.07% in April 2024. This cooling in the EV segment may provide traditional manufacturers some breathing room as they develop their own electric offerings.
Industry analysts attribute these shifting market shares to several factors: evolving consumer preferences, the impact of regulatory changes such as OBD-2B implementation, financing availability patterns, and the gradual maturing of the electric mobility segment. Additionally, rural demand fluctuations and extreme weather conditions, as highlighted in FADA reports, have impacted sales patterns across manufacturers.