Vehicle Sales Q2 FY 2024-25: Honda 2W (HMSI) Leads, 59,56,495 Units, Up 3.1% YoY
Every vehicle registered in India over Q2 FY 2024-25 — July 2024 to September 2024. Q2 of the financial year, July to September. Month-by-month volumes, the manufacturer leaderboard, what India actually registered segment by segment, and the same window in every earlier year on record.
Vehicle sales month by month, Q2 FY 2024-25
The Indian vehicle market registered 59,56,495 vehicles in Q2 FY 2024-25. Volumes ticked higher 3.1% against the 57,78,764 logged over the same 3 months of Q2 FY 2023-24.
July was the strongest month of the period at 21,48,824 vehicles and September the quietest at 18,17,370, an average of 19,85,498 a month. 2 of those 3 months grew on the same month a year earlier.
July sits inside the monsoon, historically a soft month for urban showroom footfall and a strong one for farm equipment.
Q2 FY 2024-25 ran from July 2024 to September 2024 and is closed. Every month in the table below is final, and every comparison on this page is against the matching month of Q2 FY 2023-24.
Vehicle registrations by month — Q2 FY 2024-25 vs Q2 FY 2023-24
Vahan retail registrations, each month set against the same month a year earlier.
Every completed month of Q2 FY 2024-25, with the matching month of Q2 FY 2023-24 beside it.
| Month | Q2 FY 2024-25 units | Q2 FY 2023-24 units | YoY | Share of period |
|---|---|---|---|---|
| July 2024 | 21,48,824 | 18,67,559 | +15.1% | 36.1% |
| August 2024 | 19,90,301 | 19,29,123 | +3.2% | 33.4% |
| September 2024 | 18,17,370 | 19,82,082 | −8.3% | 30.5% |
Each month links through to its own full report.
Which manufacturer sold the most, Q2 FY 2024-25
Honda 2W (HMSI) led the period with 11,20,047 registrations, up 9.9% on Q2 FY 2023-24. Hero MotoCorp follows on 10,56,563, 63,484 behind — a gap of 1.06x.
The fastest riser in the top 15 was Ola Electric, up 68.8% to 99,730, while Hyundai was down 10.3% at 1,31,940.
Top manufacturers by registrations — Q2 FY 2024-25
Total registrations across every vehicle type each manufacturer sells.
Exact registrations over July 2024 to September 2024, with the change against Q2 FY 2023-24.
| # | Manufacturer | Q2 FY 2024-25 units | Share | vs Q2 FY 2023-24 |
|---|---|---|---|---|
| 1 | Honda 2W (HMSI) | 11,20,047 | 18.80% | +9.9% |
| 2 | Hero MotoCorp | 10,56,563 | 17.74% | −3.2% |
| 3 | TVS Motor | 7,44,216 | 12.49% | +6.8% |
| 4 | Bajaj Auto | 6,01,613 | 10.10% | +2.4% |
| 5 | Maruti Suzuki | 4,00,704 | 6.73% | −5.6% |
| 6 | Suzuki 2W | 2,47,941 | 4.16% | +14.8% |
| 7 | Royal Enfield | 1,81,913 | 3.05% | −3.5% |
| 8 | Mahindra | 1,78,121 | 2.99% | −1.5% |
| 9 | Yamaha India | 1,62,304 | 2.72% | +7.9% |
| 10 | Hyundai | 1,31,940 | 2.22% | −10.3% |
| 11 | Tata Motors (PV) | 1,06,284 | 1.78% | −1.7% |
| 12 | Ola Electric | 99,730 | 1.67% | +68.8% |
| 13 | Tata Motors | 83,120 | 1.40% | −8.1% |
| 14 | Toyota Kirloskar | 70,504 | 1.18% | +23.7% |
| 15 | Kia India | 57,522 | 0.97% | −2.0% |
What India registered in Q2 FY 2024-25
Two-wheelers dominate every Indian registration total, and Q2 FY 2024-25 is no exception: two-wheelers alone accounted for 70.1% of the 59,56,495 vehicles registered across the period.
Buses grew fastest at +18.9%, and other classes slowest at −13.7%.
Market composition — Q2 FY 2024-25
Share of every vehicle registered in the period.
Exact segment volumes over July 2024 to September 2024.
| Segment | Q2 FY 2024-25 units | Share | vs Q2 FY 2023-24 |
|---|---|---|---|
| Two-Wheelers | 41,74,440 | 70.08% | +5.3% |
| Cars & UVs | 8,84,713 | 14.85% | −3.1% |
| Three-Wheelers | 3,34,585 | 5.62% | +4.6% |
| Tractors | 2,12,043 | 3.56% | −6.1% |
| Goods Carriers | 1,94,717 | 3.27% | −5.6% |
| Taxis & Cabs | 83,480 | 1.40% | +10.6% |
| Other classes | 42,066 | 0.71% | −13.7% |
| Buses | 30,451 | 0.51% | +18.9% |
Fuel mix, Q2 FY 2024-25
Battery-electric vehicles were 8.7% of every registration in Q2 FY 2024-25, against 6.6% in Q2 FY 2023-24. That is 5,18,480 electric vehicles across all segments.
Fuel labels come straight from Vahan and the split below covers the whole market over July 2024 to September 2024 — petrol includes the E20 ethanol blend, which is now the single largest label in the database.
Registrations by fuel — Q2 FY 2024-25
Every vehicle registered in the period, by fuel.
Exact fuel volumes over July 2024 to September 2024.
| Fuel | Q2 FY 2024-25 units | Share | vs Q2 FY 2023-24 | Share move |
|---|---|---|---|---|
| Petrol | 43,77,088 | 73.48% | +0.5% | −1.87pp |
| Diesel | 6,37,980 | 10.71% | −2.7% | −0.64pp |
| Electric | 5,18,480 | 8.70% | +35.2% | +2.07pp |
| CNG / LPG | 3,22,149 | 5.41% | +10.7% | +0.37pp |
| Hybrid | 85,751 | 1.44% | +12.9% | +0.13pp |
| Other | 15,047 | 0.25% | −17.0% | −0.06pp |
Every Q2 on record
Across the 3 completed windows in our Vahan record, vehicle registrations went from 59,56,495 in Q2 FY 2024-25 to 76,67,276 in Q2 FY 2026-27, up 28.7% over the stretch.
Vehicle registrations by quarter
* window still in progress.
| Period | Months | Units | YoY |
|---|---|---|---|
| Q2 FY 2026-27 | 3 | 76,67,276 | +26.5% |
| Q2 FY 2025-26 | 3 | 60,62,099 | +1.8% |
| Q2 FY 2024-25 | 3 | 59,56,495 | +3.1% |
Each row compares only the months that window holds, so a part period is never set against a full one.
Where the demand was, Q2 FY 2024-25
Uttar Pradesh registered the most vehicles of any state in Q2 FY 2024-25 — 7,19,231, 12.1% of the national total.
The top five states together account for 45.1% of every vehicle registered in the period.
Top states by registrations — Q2 FY 2024-25
All vehicle types, exact for the period.
| # | State | Units | Share | vs Q2 FY 2023-24 |
|---|---|---|---|---|
| 1 | Uttar Pradesh | 7,19,231 | 12.1% | +5.7% |
| 2 | Maharashtra | 6,05,929 | 10.2% | +4.0% |
| 3 | Tamil Nadu | 5,01,431 | 8.4% | +5.8% |
| 4 | Karnataka | 4,41,042 | 7.4% | +1.0% |
| 5 | Gujarat | 4,19,519 | 7.0% | −15.4% |
| 6 | Rajasthan | 3,48,727 | 5.9% | +0.5% |
| 7 | Madhya Pradesh | 3,12,763 | 5.3% | −0.3% |
| 8 | West Bengal | 2,90,072 | 4.9% | +24.7% |
| 9 | Bihar | 2,82,091 | 4.7% | +9.3% |
| 10 | Telangana | 2,43,363 | 4.1% | +3.4% |
| 11 | Haryana | 2,29,350 | 3.9% | +20.6% |
| 12 | Kerala | 2,18,408 | 3.7% | +3.4% |
| 13 | Andhra Pradesh | 1,97,529 | 3.3% | −7.8% |
| 14 | Punjab | 1,61,925 | 2.7% | +6.0% |
| 15 | Odisha | 1,59,501 | 2.7% | +1.1% |
Frequently asked questions
How many vehicles were sold in India in Q2 FY 2024-25?
What period does Q2 FY 2024-25 cover?
Which manufacturer sold the most vehicles in Q2 FY 2024-25?
Which was the strongest month for vehicle sales in Q2 FY 2024-25?
Which quarter had the highest vehicle sales?
Are these retail sales or factory dispatches?
Vehicle sales, other periods
More from the reports desk
Source. Every figure is a vehicle registration, taken daily from the Ministry of Road Transport & Highways' Vahan 4 dashboard (vahan.parivahan.gov.in) — the same source FADA and the industry use for retail data. Registrations are not the wholesale dispatch numbers manufacturers announce each month. "EV" means battery electric (Vahan fuels PURE EV and ELECTRIC(BOV)); hybrids are counted separately. Information only, not investment advice.
Using these numbers? Cite "Flash Finance (Vahan data)" with a link to this page. This report's chart card is free to republish with the same credit.
