Honda Overtakes Hero As India’s No.1 Two-Wheeler Maker In February 2025

Honda Motorcycle and Scooter India Pvt. has overtaken Hero MotoCorp Ltd. to emerge as India's largest two-wheeler maker for the third time this fiscal.

The India unit of Japan's Honda Motor Co. shipped 3,83,918 motorcycles and scooters in February as against 4,13,967 units in the year-ago period—a decline of 7% year-on-year, according to a company statement on Monday. In comparison, Hero MotoCorp's wholesales fell 19.75% to 3,57,296 units, according to an exchange filing.

Wholesales are dispatches to dealerships from the factory floor.

As far as exports are concerned, HMSI shipped 38,531 units last month as against 44,744 units in the year-ago period. Hero's exports rose by a third to 30,772 units.

Before February, HMSI had eclipsed Hero MotoCorp in monthly sales in July and August 2024. On a year-to-date basis too, HMSI is drawing closer to its erstwhile partner in India.

Between April 2024 and February 2025, Hero MotoCorp's sales are up 2.82% year-on-year at 51,01,672 units. HMSI has shipped 49,25,241 units over the same time. The gap is just 1,76,431 units.

To be sure, Japan's Honda Motor has made it plenty clear that it wants to be India's No. 1 two-wheeler maker in the long run and make the country an export hub as well.

“Honda has steadily increased sales volume to the point where the largest market share in India is within reach,” Honda Motor said in a statement on 28 January 2025.

“To further expand sales, Honda Motor will pursue various initiatives to strengthen its business in India, including the automation of production plants and active cultivation and utilisation of local suppliers,” the company went on to say in the statement. 

“In addition, Honda will further expand its motorcycle business by implementing efficient product strategies globally, such as exporting high-value, highly competitive products nurtured in India to the South American market where customer needs are similar…”

EV Focus

In November 2024, Honda introduced electric scooters—Activa e: with a swappable battery pack and QC1 with a fixed battery—in India.

Through its subsidiary Honda Power Pack Energy India Pvt. Ltd., HMSI is setting up several battery-swapping stations in Bengaluru, Delhi NCR and Mumbai in 2025. That—along with 6,000 dealerships across India—will address the range anxiety of customers.

Honda plans to set up a dedicated EV plant in India by 2028. The aim is to reduce the total cost of ownership of an electric two-wheeler to that of a traditional scooter. Additionally, the company is looking to localise battery manufacturing with existing and new partners.

“Through these initiatives, Honda will also strive to capture the largest market share in the electric motorcycle market in India,” the company stated in the Jan. 28 statement.

On Monday, Hero MotoCorp shares fell 1.56% to Rs 3,629.30 apiece on the BSE even as the benchmark Sensex ended the day 0.15% lower at 73,085.94 points. HMSI is yet unlisted in India.