India’s two-wheeler industry remains a key player in the automotive sector, with 16.56 million units dispatched by OEMs in the first 10 months of FY2025, reflecting a 10.7 percent year-on-year increase. Motorcycles lead with 63 percent of the market share, followed by scooters at 35 percent, while mopeds also showed some growth.
- India's two-wheeler market is growing, with motorcycles at 63 percent share.
- The 100-110cc segment leads, with 110-150cc growing fast.
- Buyers are shifting to premium 200-300cc bikes, causing a decline in the 150-200cc segment.
SIAM data shows that nearly all motorcycle sub-segments have experienced growth, except for the 150cc to 200cc category. This analysis explores the reasons behind its struggles amidst the broader market's positive trends.
The 100-110cc segment leads with 4.83 million units sold, up 2 percent, capturing 46 percent of the market. The 110cc-125cc segment follows with 3.05 million units, a 15 percent growth, and 29 percent market share. The 125cc-150cc category saw a 42 percent growth, selling 607,721 units and holding 6 percent of the market.
However, the 150cc to 200cc sub-segment, the third-largest in terms of volume, has faced a decline. With 932,332 units sold and a 9 percent market share, it’s down by 8 percent compared to last year, selling 78,658 fewer units between April 2024 and January 2025. This drop can largely be attributed to weaker performances from major players like Bajaj Auto, Honda, Hero MotoCorp, and Suzuki.
TVS and Yamaha shine, but Bajaj, Honda, Hero & SUZUKI FEEL THE HEAT
A closer look at the brand-wise performance in the 150-200cc bike market from April 2024 to January 2025 highlights key trends and reveals the struggle of slow-selling products.
TVS Motor Co.
TVS Motor Co. leads the 150-200cc segment with four offerings of the Apache RTR series. With 364,050 units sold in the first 10 months of FY2025, the Apache accounts for 39 percent of the sub-segment, marking an 18 percent YoY increase. It surpasses the TVS Raider, which saw a 14 percent YoY decline with 340,699 units sold.
India Yamaha Motor
Yamaha has sold 200,185 motorcycles in the current fiscal, marking a 6 percent YoY increase and capturing a 21 percent share of the 150-200cc segment. The company offers two models: the MT-15 V2.0 and the YZF R15, of the two, the MT-15 has seen a significant demand spike, with a nearly 50 percent YoY growth, while the famed R15 is experiencing slower sales.
Bajaj Auto
Bajaj Auto has sold 188,754 units in the 150-200cc category over the past 10 months, reflecting an 18 percent decline compared to the previous year’s 231,374 units. This translates to 42,620 fewer motorcycles sold. The company offers nine models in this segment, including six Pulsars, the Avenger 160 Street and two KTM 200s. While sales of the Pulsar range have dropped by about 20 percent, demand for KTM models has remained relatively stable.
Honda Motorcycle & Scooter India (HMSI)
Honda Motorcycles India has seen a 36 percent year-on-year drop in sales within the 150-200cc category, selling 134,778 units, 75,653 fewer than the previous year. The brand’s four models in this segment—Unicorn 160, SP160, Hornet 2.0, and CB200X (now NX200) have been affected. With the Unicorn 160, typically being the top seller, experiencing a notable slowdown. However, the recent December 2024 update of the Unicorn 160, featuring an OBD2B-compliant engine and a TFT dash may help boost sales.
In contrast, the SP160 has seen strong demand, with sales nearly doubling. This model also now benefits from OBD2B compliance and TFT display like other recently updated Hondas. Additionally, both the Hornet 2.0 and CB200X (now NX200) are receiving positive attention, signaling a shift in consumer preference toward higher-powered motorcycles. Both the Hornet 2.0 and NX200 have recently received updates and this should help in boosting sales.
Hero MotoCorp
Hero MotoCorp ranks fifth in the 150-200cc segment, with 32,141 units sold, reflecting a 39 percent year-on-year decline. The company offers two models: the Xtreme 160R and the Xpulse 200 4V. Among these, the Xpulse 200 is seeing stronger demand, especially following its recent update.
Suzuki Motorcycle India
From April 2024 to January 2025, Suzuki Motorcycle India sold 11,761 units of the 155cc Gixxer and Gixxer SF, reflecting a 36 percent year-on-year decline.
India Kawasaki Motor
The last of the bike makers in this list, sold 663 units of the 177cc W175 Street.
Are 150-200cc motorcycle buyers migrating?
The 150-200cc premium commuter segment, the third largest in the overall motorcycle market, faces pressure from both the 125-150cc category and the segments above it. The 125-150cc bikes have experienced a notable 42 percent growth, with a rise in market share from 4.41 percent to 6 percent, suggesting a shift toward more fuel-efficient options as buyers opt for affordability over performance.
However, the Union Budget’s promises of increased disposable income could shift this trend.
Meanwhile, the 200-250cc (up by 17% to 110,297 units) and 250-350cc (up by 3% to 703,475 units) segments have gained traction. This is probably down to buyers moving from the 150-200cc segment towards more premium, feature-rich options. This shift is aided by the narrowing price gap between these bikes and the high-spec 150-200cc models, attracting first-time buyers seeking a balance of style, performance, and value.