Top 10 sold petrol two-wheelers in India in FY24

Long story short: Learn about the top 10 sold petrol two-wheelers, motorcycles and scooters in India in FY24 sales. Find out which motorcycles and scooters dominated sales and why they are preferred by Indian riders.

The Indian two-wheeler market witnessed remarkable growth during FY23-24, with total sales increasing from 1.59 crore units in FY23 to 1.80 crore units in FY24, marking a robust 13.2% year-on-year growth.

In FY24, the two-wheeler industry showed strong growth, with the domestic market expanding across all segments. Motorcycle sales increased by 13.9% to 1.17 crore units, and scooters saw an impressive 22.3% growth. This success was fueled by better rural demand, favourable monsoons, higher infrastructure spending, and the economy’s recovery after the pandemic.

This comprehensive analysis article examines the best-selling petrol two-wheelers that dominated the Indian roads during this period. Let’s find out who they are and what the sales numbers of the models are.

Key Takeaways

1. The Hero Splendor Plus has once again secured its title as India’s best-selling two-wheeler. With a modest growth of 1.15%, it consistently sells over 32 lakh units each year, proving its popularity in rural and semi-urban areas.
2. The TVS Raider 125 saw nearly 100% growth in FY24, positioning it as one of India’s fastest-growing motorcycles. Its sporty design, five-speed gearbox, and synchronised braking system have attracted young riders.
3. Despite a marginal decline of 1.70%, the Hero HF Deluxe remained among the top sellers with over 10 lakh units sold. This entry-level motorcycle continues to attract price-conscious buyers with its affordability, reliability, and impressive fuel efficiency.
4. The Bajaj Platina, despite a marginal decline of 3.37%, remained among the top 10 best-sellers. Known for its comfort and mileage-focused positioning, the Platina continues to serve as an affordable choice for buyers prioritising long-term savings and comfort in their daily commute.

Top 10 sold petrol two-wheelers in India in FY24

1. Hero Splendor Plus

1. FY24 Sales: 32,93,324 units
2. FY23 Sales: 32,55,744 units
3. Growth: +1.15%

The Hero Splendor Plus has once again secured its title as India’s best-selling two-wheeler. With a modest growth of 1.15%, it consistently sells over 32 lakh units each year, proving its popularity in rural and semi-urban areas. Renowned for its reliability, fuel efficiency of 65-70 kmpl, and low maintenance costs, the Splendor remains a key contributor to Hero MotoCorp’s success.

Model links

1. Hero Splendor Plus XTEC 2.0
2. Hero Splendor Plus XTEC
3. Hero Splendor Plus

2. Honda Activa

1. FY24 Sales: 22,54,537 units
2. FY23 Sales: 21,49,658 units
3. Growth: +4.88%

The Honda Activa series, including both 110cc and 125cc models, is India’s best-selling scooter and the second-best-selling two-wheeler overall. In FY24, over 22.5 lakh units were sold, boosting Honda’s market presence. The Activa’s success is due to its efficient engine, premium features, and Honda’s reputation for reliability and fuel efficiency.

Model links

1. Honda Activa 125
2. Honda Activa 110

3. Honda Shine

1. FY24 Sales: 14,82,957 units
2. FY23 Sales: 12,09,025 units
3. Growth: +22.66%

The Honda CB Shine saw a significant 22.66% year-on-year growth, making it the top performer among motorcycles. This 125cc commuter bike offers a great mix of performance, efficiency, and premium features, appealing to daily commuters. Its refined engine and comfortable ride have significantly boosted its sales.

Model links

1. Honda Shine 125
2. Honda Shine 100

4. Bajaj Pulsar Series

1. FY24 Sales: 14,10,974 units
2. FY23 Sales: 10,29,057 units
3. Growth: +37.11%

The Bajaj Pulsar brand achieved spectacular growth of 37.11% in FY24, crossing the 14 lakh units milestone for the first time. The Pulsar 125cc variants led this growth, accounting for the majority of sales within the series. Bajaj’s continuous expansion of the Pulsar range with new models and regular updates to existing ones has kept the brand relevant and competitive in the performance motorcycle segment.

Model links

1. Bajaj Pulsar N125
2. Bajaj Pulsar N150
3. Bajaj Pulsar 220F
4. Bajaj Pulsar NS400Z
5. Bajaj Pulsar N250
6. Bajaj Pulsar 125
7. Bajaj Pulsar NS 200
8. Bajaj Pulsar NS 160
9. Bajaj Pulsar NS 125
10. Bajaj Pulsar 150
11. Bajaj Pulsar N160
12. Bajaj Pulsar F250
13. Bajaj Pulsar RS 200

5. Hero HF Deluxe

1. FY24 Sales: 10,34,178 units
2. FY23 Sales: 10,52,043 units
3. Growth: -1.70%

Despite a marginal decline of 1.70%, the Hero HF Deluxe remained among the top sellers with over 10 lakh units sold. This entry-level motorcycle continues to attract price-conscious buyers with its affordability, reliability, and impressive fuel efficiency. The HF Deluxe’s consistent presence in the top 5 reflects Hero’s strong distribution network and brand loyalty in rural markets.

Model link

1. Hero HF Deluxe

6. TVS Jupiter

1. FY24 Sales: 8,44,863 units
2. FY23 Sales: 7,29,546 units
3. Growth: +15.81%

The TVS Jupiter achieved its best-ever fiscal year performance with 15.81% growth, solidifying its position as India’s second-best-selling scooter. Available in both 100cc and 125cc variants, the Jupiter has been instrumental in giving TVS a 25% share of the Indian scooter market. Its success is attributed to its family-friendly design, practical features, and competitive pricing.

Model links

1. TVS Jupiter 125
2. TVS Jupiter

7. Suzuki Access 125

1. FY24 Sales: 6,34,563 units
2. FY23 Sales: 4,98,836 units
3. Growth: +27.21%

The Suzuki Access 125 recorded a remarkable growth of 27.21% in FY24. This premium 125cc scooter’s success can be attributed to its superior build quality, comfortable ride, and advanced features. Suzuki’s focus on product quality and customer satisfaction has helped the Access maintain its position among the top-selling scooters in India.

Model link

1. Suzuki Access 125

8. Bajaj Platina

1. FY24 Sales: 5,02,486 units
2. FY23 Sales: 5,20,000 units
3. Growth: -3.37%

The Bajaj Platina, despite a marginal decline of 3.37%, remained among the top 10 best-sellers. Known for its comfort and mileage-focused positioning, the Platina continues to serve as an affordable choice for buyers prioritising long-term savings and comfort in their daily commute.

Model links

1. Bajaj Platina 110
2. Bajaj Platina 100

9. TVS XL 100

1. FY24 Sales: 4,81,803 units
2. FY23 Sales: 4,41,506 units
3. Growth: +9.11%

TVS XL 100 maintained its position as India’s leading moped with steady 9.11% growth, adding over 40,000 units. This consistent performance reflected the model’s unique utility-focused positioning in the commercial and semi-commercial segments.

Model link

1. TVS XL 100

10. TVS Raider

1. FY24 Sales: 4,78,443 units
2. FY23 Sales: 2,39,388 units
3. Growth: +99.86%

The TVS Raider 125 saw nearly 100% growth in FY24, positioning it as one of India’s fastest-growing motorcycles. Its sporty design, five-speed gearbox, and synchronised braking system have attracted young riders. This success highlights TVS’s understanding of changing consumer preferences.

Model link

1. TVS Raider 125

What factors contributed to the decline in sales for models like Hero HF Deluxe and Bajaj Platina in Indian in FY24?

Both the Hero HF Deluxe and Bajaj Platina saw a decline in sales during FY24 compared to FY23, with HF Deluxe down 1.70% and Platina down 3.37%. Key reasons for this dip include:

1. Shifting Consumer Preferences: Buyers, especially in the entry-level segment, are moving towards motorcycles with more features and style, such as the TVS Raider and Honda CB Shine. Urban customers prefer scooters for their convenience and automatic transmission, affecting demand for basic motorcycles.
2. Intense Competition: The entry-level motorcycle market is crowded, with rival offerings from Hero (like the Splendor Plus), Honda, and Bajaj. Competitors are attracting buyers with new features and styling.
3. Muted Rural Demand: While the rural market showed some recovery, not all regions experienced this uniformly. Inflation, inconsistent monsoons, and local economic challenges affected purchasing power for budget-conscious customers.
4. Preference for Feature-Rich Motorcycles: Consumers expect features like digital displays and LED headlights, making the basic HF Deluxe and Platina less appealing.
5. Pricing and Value Perception: Minor price hikes have made these models less affordable compared to higher-featured alternatives, leading buyers to consider spending slightly more for better value.
6. Impact of Urbanisation: Urbanisation has prompted buyers to favour scooters and upgraded motorcycles instead of basic commuter models.
7. Limited Marketing Push: Marketing efforts for brands like Hero and Bajaj focused on new and premium models, neglecting entry-level offerings.
8. Rise of the Used Two-Wheeler Market: More affordable pre-owned options have impacted new sales for very basic models.

What factors contributed to the increase in sales for the TVS Raider in FY24 in India?

The increase in sales for the TVS Raider in India during FY23-24 and continuing into FY25 can be attributed to several key factors:

1. Appealing to Young Buyers with Modern Features and Style: The TVS Raider, launched in late 2021, has quickly gained popularity due to its sporty design, 125cc engine, nimble handling, and features like a five-speed gearbox and synchronised brakes, which are tailored for young riders who want performance, fuel efficiency, and style.
2. Consistent Strong Sales Performance: The Raider is TVS’s top-selling motorcycle, averaging nearly 40,000 monthly sales in FY24 and surpassing 8 lakh units in just over two years. Monthly sales often exceed 50,000 units, indicating strong demand.
3. Aggressive expansion in the 125cc Segment: TVS has significantly expanded its 125cc lineup, tapping into rising commuter demand. The Raider, along with the Apache RTR 125, has been key to this growth.
4. Competitive Pricing and Value Proposition: The Raider strikes a good balance of price, performance, and features, attracting buyers upgrading from basic models. Multiple variants cater to a wide range of customers.
5. Increased Retail Financing Penetration: About 56% of TVS two-wheeler sales are financed, making the Raider more affordable, especially in rural markets. TVS Credit plays a significant role in facilitating this financing.
6. Strong Distribution and Market Presence: TVS’s broad dealer network and marketing efforts have made the Raider accessible in both urban and rural areas. Their focus on customer satisfaction enhances buyer confidence.
7. Growing Preference for Higher Capacity Commuter Bikes: Consumer preference is shifting toward higher-capacity (125cc) motorcycles, benefiting models like the Raider.
8. New Product Launches & Continuous Updates: TVS continuously updates the Raider and introduces new variants to align with customer preferences, maintaining interest.
9. Strong Industry and Brand Momentum: In FY24 and FY25, healthy economic recovery, good monsoons, and overall two-wheeler market growth have positively impacted TVS motorcycles, particularly the Raider.

How does the competition between brands like Honda, TVS, and Bajaj influence consumer preferences in the two-wheeler market?

The competition among brands like Honda, TVS, and Bajaj significantly shapes consumer preferences in the Indian two-wheeler market through several key factors:

1. Product Offerings: Each brand targets different segments. Honda focuses on reliable, fuel-efficient models like the Activa for urban and family buyers. TVS appeals to younger riders with sporty, feature-rich models like the Raider. Bajaj serves both budget and premium markets with its Pulsar series.
2. Technological Innovations: Competition drives constant upgrades. TVS prioritises innovative features and aggressive pricing, Bajaj focuses on technological advancements like DTS-i engines, and Honda enhances reliability and convenience. Consumers are drawn to brands that offer superior technology and safety.
3. Brand Image and Satisfaction: Honda, Bajaj, and Hero are recognised for fuel efficiency. At the same time, TVS attracts customers seeking advanced features. Factors like after-sales service, brand loyalty, and distribution networks also impact preferences. Hero thrives in rural areas, Honda is trusted for service, and TVS leans on its innovative reputation.
4. Marketing Strategies: All brands invest significantly in marketing. Bajaj highlights sportiness, Honda emphasises reliability, and TVS focuses on innovation with competitive pricing. Pricing strategies attract different consumer segments based on cost, performance, and features.
5. Urbanisation Trends: Increasing urbanisation shifts preferences toward scooters and higher-displacement motorcycles. Honda dominates the scooter market with the Activa, while TVS and Bajaj target young urban riders.
6. Regional Dynamics: Rural consumers prioritise affordability and fuel efficiency, where Hero and Bajaj excel. In contrast, urban consumers look for style and performance, benefiting Honda and TVS. This segmentation influences consumer choices across different markets.

Other related links from Bikeleague India

1. Electric two-wheeler sales figures in India FY23 & FY24
2. Top 10 sold petrol two-wheelers in India in FY25
3. Two wheeler Sales in India FY 2023-24 | Analysis of Top Brands

Conclusion

The analysis of India’s top 10 best-selling petrol two-wheelers from FY23 to FY24 reveals dynamic market changes, marked by an impressive 11.63% growth rate. This period has highlighted the industry’s strong recovery post-pandemic.

A total increase of 12.93 lakh units across the top 10 models indicates healthy market expansion and potential for growth. Moving forward, manufacturers must balance traditional strengths like reliability and fuel efficiency with modern demands for features, performance, and connectivity.

We hope you are familiar with the top 10 sold petrol two-wheelers in India in FY24. If you have any questions or need more information about the top 10 sold petrol two-wheeler sales and insights, please email us at bikeleague2017@gmail.com or leave a comment below. We’re always here and happy to help! However, don’t forget to check out Bikeleague India on our social media platforms to stay connected!