In January 2025, the two-wheeler (2W) segment saw impressive growth, both year-on-year (YoY), month-on-month (MoM), and year-to-date (YTD). Overall, retail sales experienced a 4% increase in 2W sales, with the three-wheeler (3W) market growing by 6.8%. Passenger vehicles (PVs) and commercial vehicles (CVs) recorded a growth of 15.5% and 8%, respectively, while tractor sales saw a 5% YoY growth. Specifically focusing on the 2W retail sales, January showed a solid 27.39% MoM increase compared to December 2024. Urban areas saw greater growth compared to rural areas.
According to the Federation of Automobile Dealers Associations (FADA), the 2W segment experienced exceptional growth in January 2025 after a quieter December. In January, 2W sales reached 1,525,862 units, up from 1,465,039 units sold in the same month of 2024, marking a 4.15% YoY growth. The 2W market also improved by 27.39% MoM compared to 1,197,742 units sold in December 2024. YTD sales for FY25 stood at 16,001,097 units, reflecting a 10% increase over the 14,546,886 units sold during the same period in 2024.
Top Selling Brands in January 2025
The top-selling brands in the 2W segment were Hero, Honda, and TVS, collectively accounting for a 70% market share.
Hero MotoCorp continued to be the leading player with 410,774 units sold, although this represented a slight YoY decrease of 544 units from January 2024 (411,318 units). Despite this small dip in sales, Hero maintained a dominant market share of 26.92%, down slightly from 28.08% in January 2024. The recent launches of the Xoom 125 and Xoom 160 scooters are expected to boost Hero’s sales with their impressive features, efficient engines, and competitive prices.
Honda followed closely with 372,982 units sold in January 2025, up from 358,278 units in January 2024, showing steady growth.
TVS Motor also performed strongly, selling 287,437 units, a significant increase from 255,175 units in January 2024. TVS’s market share grew to 18.84%, up from 17.42% YoY.
On the other hand, Bajaj Auto experienced a YoY decline in sales, with 173,754 units sold in January 2025, down by 3,623 units from the 177,377 units sold in January 2024. However, Bajaj’s upcoming launch of the Dominar 400 is expected to create a surge in sales in the coming months.
Suzuki also performed well, with 88,315 units sold in January 2025, up from 75,876 units in January 2024.
Royal Enfield, a leader in the 350cc segment, saw an increase in sales with 76,574 units sold in January 2025, compared to 67,318 units in the same month last year.
Yamaha showed only a marginal improvement with 58,110 units sold, up from 57,958 units in January 2024.
Electric 2W Sales in January 2025
The electric two-wheeler segment also witnessed varied performance:
Ola Electric saw a significant YoY decline in sales, dropping to 24,336 units in January 2025 from 32,424 units in January 2024. This resulted in a decrease in its market share from 2.21% to 1.59%. However, Ola plans a comeback with the launch of the Roadster X Electric Bike, featuring a 9.1 kWh battery and a 501 km range.
Ather Energy had a stellar performance, reporting a rise in sales to 12,906 units, up from 9,380 units in January 2024. Its market share grew to 0.85%, up from 0.64% YoY. Ather has also refreshed its portfolio with the 2025 Ather 450S and 450X, offering new color options and a host of features.
Greaves Electric saw improved sales, reaching 3,611 units in January 2025, compared to 2,358 units in January 2024.
Piaggio, however, experienced a decline, with sales falling to 2,769 units in January 2025 from 3,183 units in the same month last year.
Classic Legends also saw a drop in sales, reaching 2,753 units in January 2025, down from 2,887 units in January 2024.
Pur Energy made a remarkable leap, recording 1,650 units sold in January 2025, a significant jump from just 620 units in January 2024.
Other OEMs, including some electric vehicle manufacturers, contributed to a total of 9,891 units sold in January 2025, slightly down from 10,887 units in January 2024.
In summary, the 2W segment in January 2025 showcased robust growth, with several key players performing strongly in both the conventional and electric segments. Despite some declines in sales for brands like Ola and Bajaj, the overall market displayed a promising upward trend for the start of the year.