Honda Motorcycles Sets New Global Sales Record in 2024

Honda Motorcycles set a new global sales record in 2024 with 19.6 million units sold, marking a 6% growth. Discover key market trends and Honda’s future expansion plans.

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Honda Motorcycles has maintained its impressive growth trajectory, setting a new all-time record with 19.6 million sales globally in 2024. This marks a 6.0% increase from the previous year and solidifies Honda’s position as the leader in the two-wheeler industry, excluding the powersport segment.

A Remarkable Recovery and Continuous Growth with Honda

Honda’s sales growth has been on an upward trend, recovering swiftly from the setbacks caused by the COVID-19 pandemic. Prior to the pandemic, the company was on a strong growth trajectory, but global sales saw a sharp decline, dropping below 15 million in a single year due to market disruptions. However, Honda rebounded quickly, achieving four consecutive years of growth, culminating in the record-breaking performance of 2024.

Key Markets Driving Honda’s Success

India: Aiming for Market Leadership

India emerged as one of the strongest markets for Honda in 2024, with a remarkable 30.5% increase in sales. As the second-largest motorcycle brand in the country, Honda is rapidly closing the gap with the market leader and has set its sights on securing the top position. To bolster its presence, the company has announced plans to construct the world’s largest electric vehicle manufacturing plant in India within the next three years.

Europe: Divergent Trends in the East and West

In Eastern Europe, Honda experienced phenomenal growth, with sales surging by 82.8% in Turkey, 106% in Ukraine, and 111% in Bosnia. These numbers highlight the increasing demand for Honda motorcycles in the region. In contrast, Western Europe saw a moderate decline in sales, dropping by 27%.

North and Latin America: Consistent Expansion

Honda’s performance in North America saw a steady increase of 3.0%, while Latin America witnessed more significant growth at 12.6%. These numbers indicate a stable market presence and growing consumer demand in the Americas.

ASEAN Region: A Slight Decline

The ASEAN region, which is traditionally a stronghold for Honda, experienced a minor decline of 1.3% in sales. This dip was attributed to weakened demand in Malaysia, Thailand, and Myanmar, offsetting otherwise steady performance across the region.

Future Outlook: Strengthening Global Leadership

Honda’s exceptional performance in 2024 underscores its ability to capitalize on emerging opportunities and expand its global footprint. With strategic investments in electric vehicle production and continued market penetration, the company is well-positioned to maintain its dominance in the global two-wheeler industry.

As Honda continues to innovate and expand, the coming years will be crucial in determining whether it can sustain its upward momentum and further break industry records.