FADA Sales Report for July 2024: 2-wheeler sales surged by 17.17%

FADA (Federation of Automobile Dealers Associations) has announced its July 2024 sales report that registered a YoY increase of 17.17 % and a MoM of 4.91 %.
 

In July 2024, the business reported total sales of 14,43,463 units, an increase of 17.17% compared to 12,31,930 units in July 2023. However, month-on-month (MoM) sales also increased by 4.91%, as the June 2024 figures were 13,75,889, which were less compared to the recent July month. The rise in July sales was due to high demand and more choices of two-wheelers in India.
 

In the two-wheeler segment, a strong rural economy, favourable monsoon conditions and government policies to boost rural income generated significant growth. New product launches and inventory growth in the 19th century further supported this development. Despite challenges such as a sluggish market, heavy rains and increased competition in some sectors, the sector has prospered. Additionally, sales of electric vehicles increased due to discounts and the impending deadline of the EMPS program. 
 

Top 3 Highest 2-Wheeler OEMs Sales Figures & Market Share

HERO MOTOCORP LTD sold the most two-wheelers in July 2024, with 3,99,324 units. However, this is 10.38% higher than the 3,61,766 units they sold in July 2023. Their market share decreased to 27.66% in July 2024 compared to 29.37% in July 2023.
 

HONDA MOTORCYCLE AND SCOOTER INDIA (P) LTD came second in the position, selling 3,68,753  units in July 2024. This is a 23.00% increase from the 2,99,790 units they sold in July 2023. Their market share grew to 25.55% in July 2024 compared to 24.33% in July 2023.
 

TVS MOTOR COMPANY LTD is third, selling 2,51,140 units in July 2024 compared to 2,13,628 units sold in July 2023. Their sales increased to 17.55%, and their market share increased to 17.40% in July 2024 compared to 17.34% in July 2023.
 

Top 3 EV Manufacturers With Highest 2-Wheeler Sales Figures & Market Share

In July 2024, OLA ELECTRIC TECHNOLOGIES PVT LTD, as usual, took first place in selling the most electric two-wheelers in the Indian market. The company reported total sales figures of 41,624 in July 2024, marking an amazing growth of 114.4% compared to June 2023 sales figures of 19,406 units. Moreover, the brand also gained a rise in its market share of 2.88%. 
 

ATHER ENERGY PVT LTD took second place after Ola Electric by selling 10,087 units in July 2024. In comparison, the company registered sales of 6,685 units in July 2023, reporting an increase of 50.89%. Moreover, talking about market share, the brand also experienced a rise of 0.70% this month.
 

Last but not least, GREAVES ELECTRIC MOBILITY PVT LTD took third place on the list for July 2024. The company achieved a total sales unit of 3,154 in July 2024, as compared to 2,159 units sold in July 2023. Due to this, the company saw an impressive increase of 46.09% this month. Apart from this, the brand also experienced a rise of 0.22% in its market share during June 2024. 
 

Before you leave, have a look at the 4 Upcoming Two-Wheeler Launches You Can't Miss in August

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