Honda now largest two-wheeler brand in India! Overtakes Hero MotoCorp's market share

Honda Motorcycle and Scooter India and hero MotoCorp have been making the headlines for a couple of days as the former overtook Hero in terms of retail sales in the month of September 2022. And now the Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for this month. According to this data, Honda 2Wheelers now has the largest market share in the country at 27.98 percent.
While Honda's share the same month last year stood at 25.83 percent, below Hero MotoCorp's 29.91 percent, it now stands at 27.98 percent, above Hero's 24.64 percent.
Honda Motorcycle & Scooter India (HMSI) on Monday reported a 7.6 percent rise in total sales at 5,18,559 units in September. The company had sold 4,81,908 units in the same month last year, HMSI said in a statement.
Domestic sales were up 5.44 percent at 4,88,924 units as against 4,63,683 units in September last year, it added.
Hero MotoCorp on Saturday reported a 1.95 percent decline in total sales to 5,19,980 units in September 2022. The company had sold 5,30,346 units in the same month last year, Hero MotoCorp said in a statement.
Domestic sales were higher last month at 5,07,690 units compared to 5,05,462 units in September 2021. However, exports were lower at 12,290 units against 24,884 units in the year-ago month, the company said.
"Heading into the peak festive season, the company remains optimistic about customer demand over the coming weeks," Hero MotoCorp said. The normal monsoon across most parts of the country and the encouraging farm activity are likely to contribute to positive customer sentiments, it added.
In related news, Hero MotoCorp is set to launch its very first electric two-wheeler in India on the 7th of October. This could have an impact on the company's retail sales over the coming months, bringing the Hero and Honda market share race neck and neck.