The two-wheeler industry in India is expected to sustain a steady volume growth rate of around seven to nine percent in FY2024-25 as far as the domestic market as well as the export markets are concerned. 

The growth in FY2024-25 is expected to be driven by higher electric vehicle (EV) penetration in the market, according to a report released by CareEdge Ratings. A big catalyst in higher EV penetration in the market is going to be the Electric Mobility Promotion Scheme 2024 (though only till July 2024 and likely to get an extension), expectation of interest rate cuts in second half of FY2024-25, strong demand for new model launches, recovery in exports from its low base of FY2023-24 and favourable monsoon which would improve rural consumer sentiment and income levels. 

Pointing out at a combination of factors behind the growth of two-wheelers in such as traction in EV volumes, wider range of models and new launches, the report highlights a robust double-digit growth pace in each of the two quarters that ended on March 2024 on a year-on-year basis in FY2023-24, the report states the restriction in the automotive segment growth in the first half of FY2023-24 was on account of the increase in vehicle prices post the implementation of the phase-II of the BS VI emission norms, higher interest rates and stressed rural incomes. Sales revived in the second half of the respective fiscal on the back of festive season demand and uptick in rural sentiments.

“Post-covid, sales volume of two-wheelers had consistently declined during FY20, FY21 and FY22 before starting to recover from FY23, with sales momentum continuing in FY24 as well. CareEdge Ratings anticipates two-wheeler sales volume growth to continue in FY25 and it would be more driven by improved domestic sales, higher EV sales, launch of CNG powered two-wheelers and good traction in executive and premium segment motorcycles.” said Hardik Shah, Director, CareEdge Ratings.

In FY2022-23, the Indian two-wheeler industry recorded sales of 19.51 million units, an eight percent growth compared to the previous fiscal year’s 18.01 million units. In FY2023-24, the industry continued its upward trajectory, achieving 9.8 percent growth with a total sales volume of 21.43 million units. However, this was still short of the peak sales volume recorded in FY19 when annual sales volume had reached 24.46 million units, as per the report.

In FY2023-24, the domestic two-wheeler industry witnessed total sales volume of 17.97 million units, reflecting a growth rate of 13 percent. Exports volume experienced a decline of five percent even though it recovered from the low of FY2022-23. The decline in exports was attributed to challenges in the African markets, which traditionally accounted for a significant portion of India’s two-wheeler exports. 

EVs propel two-wheeler growth 

The overall volume growth in FY2022-23 and FY2023-24 was supported by the increasing demand for electric two-wheelers, according to the CareEdge Ratings report. In FY2022-23, electric two-wheeler sales reached approximately 0.73 million units, accounting for 4.54 percent of total two-wheeler sales (compared to 1.87 percent in the previous year), reflecting a remarkable year-on-year growth of 188 percent albeit on a low base. 

Continuing the positive trend, electric two-wheeler sales grew by around 30 percent in FY2023-24 surpassing volume of 0.94 million units. The demand for electric two-wheelers is driven by a shift in consumer preferences towards options that offer lower fuel costs, reduced maintenance, and lower servicing requirements compared to internal combustion engine (ICE) models. The government’s FAME II programme – till FY2023-24 – has made EV ownership more affordable, thereby contributing to volume growth.

The Indian Government’s newly introduced Electric Mobility Promotion Scheme 2024 (EMPS 2024) has continued to bolster electric two-wheeler sales in FY2024-25 – that is until July 2024. Despite the higher initial cost of electric two-wheelers, consumers are increasingly making the switch to EVs, the report pin points.

Segment wise, motorcycles have consistently dominated the market, contributing to majority of the two-wheeler sales. Sales volumes of motorcycles grew by eight percent in FY2023-24 and that of scooters grew by 13 percent during the respective period. This segment-wise growth trend is expected to continue in FY2024-25. 

With motorcycles continuing to be popular due to their superior fuel efficiency, cost-effectiveness, and versatility, scooters have also gained traction among urban commuters. 

Image for representative purpose only.

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The Karnataka High Court’s Division Bench has ruled in favour of Boman Irani, Co-Founder of Classic Legends, confirming his rights over the trademark ‘Yezdi’.

The ruling overturns a previous Single Judge order and marks a victory for Classic Legends, makers of Yezdi, Jawa and BSA motorcycles, and a Mahindra Group company.

The Court observed that the registrations for the brand ‘Yezdi’ obtained by Irani are valid and comply with the Trade Marks Act. The ruling confirmed that Ideal Jawa’s prolonged non-use and failure to renew trademark registrations amounted to abandonment. Ideal Jawa had stopped production in 1996 and was liquidated in 2001, failing to renew the trademark registrations for over 15 years.

In contrast, the Court noted that Irani worked on reviving the brand and lawfully acquired the requisite trademark registrations in 2013-14. He co-founded Classic Legends in 2015 with Anupam Thareja and the Mahindra Group.

Boman Irani, Co-Founder of Classic Legends and Chairman and MD of Rustomjee Group, said, “The verdict feels much more momentous than a fateful personal victory for my family’s legacy. It reaffirms that the perseverance in keeping heritage brands alive never goes unrewarded. The honourable court and judges have supported our efforts to renew Yezdi through innovation and lawful means. I know my father would have wanted me to blaze a trail with brand Yezdi, which has been a part of me since my childhood, and I thank the Indian judicial system for recognising our efforts in carrying forward the legacy for future generations.”

Anand Mahindra, Chairman, Mahindra Group, said, “The honourable Karnataka High Court judges have brought their astute understanding to a case which will redefine India’s IPR legal disputes. It will discourage unwarranted and unfair hurdles to trademark ownership. The verdict proves that sincere efforts to keep alive legacy brands are worth pursuing and vindicates the winning spirit that Boman and Anupam bring to Classic Legends’ mission of reviving Yezdi.”

Anupam Thareja, Co-Founder, Classic Legends, said, “We have honoured Yezdi’s true challenger spirit in reviving the storied brand. We had complete faith in the Indian judicial system, and our trust stands vindicated as the honourable judges have affirmed our rightful ownership of brand Yezdi. We will continue with the same spirit and ensure Yezdi roars back into the hearts of India's modern motorcycling community."

The Court dismissed all pending applications, set aside the earlier order, and allowed all appeals by Irani and Classic Legends.

The judgement highlights the need for active stewardship in preserving brand heritage. The Court observed the following points:

• Ideal Jawa had stopped using the Yezdi mark in 1996, allowed registrations to lapse, and took no steps to protect it; the mark had no surviving goodwill.
• Common-law rights for trademarks exist only through their continued use.
• Both Ideal Jawa and the Official Liquidator (OL) were inactive in using or renewing the trademark.
• The OL cannot claim ignorance of the trademark’s existence when Yezdi was Ideal Jawa’s sole business.
• With no business for 30 years, no renewal, no use, no protection, and the trademark not even mentioned in asset sales, goodwill was extinguished.
• The dues owed to Ideal Jawa in liquidation have no connection to the value of its trademark. The OL cannot equate alleged debts with trademark value.
• Trademarks are intangible rights dependent on use and renewal. Unlike physical property, they do not inherently persist.

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Bengaluru-based electric vehicle maker Ultraviolette Automotive has accelerated its nationwide presence by opening six Experience Centres across Mumbai and Pune within 48 hours. The locations include Andheri, Vashi and Thane in Mumbai, and Shivajinagar, Baner and Kharadi in Pune. This expansion strengthens the brand's foothold across 30 cities nationally.

The new UV Space Stations, in partnership with Hallmark Mobility (Mumbai) and KHV Mobility (Pune), offer customers the opportunity to explore Ultraviolette's motorcycles: the X-47 Crossover, F77 SuperStreet and F77 MACH 2. The centres provide test rides, sales, service, spares and a range of motorcycle accessories, catering to the end-to-end customer lifecycle.

Narayan Subramaniam, CEO and Co-founder, Ultraviolette Automotive, said, “At Ultraviolette, our mission has always been to engineer products that push boundaries of performance and technology while delivering an after-sales and ownership experience built on trust and dependability. With our expanding network of retail and service hubs across Maharashtra and other key markets, we are unifying sales and service to offer riders a seamless journey from the first moment they walk into a reliable after-sales experience. As we continue to grow, we are also building a connected ecosystem that brings technology, sustainability, and convenience together. Every Ultraviolette Space Station is designed to represent the future of mobility, where innovation becomes accessible, and every rider resonates with the future driven ethos of Ultraviolette.”

Kaushik Kothari, Partner at KHV Mobility, said, “In line with our vision of driving growth through strategic opportunities, we are proud to be associated with Ultraviolette. We firmly believe that EVs represent the future of two-wheeler mobility, and Ultraviolette’s sharp focus on engineering, design, and customer-centricity resonates deeply with our values. Together, we are confident of contributing to a shared journey of innovation and mutual success.”

Earlier this year, the company launched two other offerings: the Tesseract electric scooter, featuring an integrated radar and dashcam and the Shockwave electric motorcycle.

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TVS Motor Company (TVSM) and BMW Motorrad have announced the production of 200,000 units under their partnership. This milestone highlights the success of the collaboration, which began in 2013 and focuses on the sub-500cc two-wheeler segment.

The partners also announced the start of manufacturing for the new BMW F 450 GS, which was recently showcased at EICMA 2025 from the Hosur plant.

KN Radhakrishnan, Director and CEO, TVS Motor Company, said, “In our over a decade-long partnership with BMW Motorrad, our engineering synergy and shared values of innovation and quality have formed the foundation of every achievement. Together, we have designed and brought several path-breaking products that resonate with customers across leading markets in Europe, the Americas, and Asia. This collaboration’s engineering prowess has set new benchmarks, and our co-developed products are now embraced by riders in over 100 markets globally. Today, as we celebrate the 200,000 unit milestone, we also mark the dawn of a new era with the roll out of BMW F 450 GS that was recently showcased at EICMA 2025. The newly introduced BMW F 450 GS, highlights TVS Motor’s state-of-the-art manufacturing excellence in producing high-end motorcycles.”

Markus Flasch, CEO, BMW Motorrad, said, "This 200,000 unit milestone is a demonstration of the success and strength of our collaboration with TVS Motor Company. What began just over a decade ago as a bold alliance has flourished into an extraordinary success story, with our sub-500cc models setting new standards and delighting riders across the globe. The BMW G 310 R, G 310 GS and G 310 RR enjoy unrivalled popularity worldwide and have become a key pillar of BMW Motorrad’s global growth. The rollout of the new BMW F 450 GS marks the next exciting chapter in our journey together. We look forward to building on this strong foundation to deliver even more innovative, accessible, and truly world-class motorcycles for riders everywhere.”

TVS Motor Company and BMW Motorrad are driving forward investments in new platforms and future-ready technologies. The collaborative R&D efforts are aimed at meeting evolving customer needs across urban and premium mobility.

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Royal Enfield has announced the launch of the Himalayan Mana Black Edition in India at Motoverse 2025. This follows its global unveiling at EICMA 2025. The new version, priced at INR 337,000 (ex-showroom) is inspired by the Mana Pass, a high-altitude route located at 18,478 feet (5,632 meters) above sea level.

The design and ergonomics of the Mana Black Edition are created to maximise off-road riding. The edition features matte details and a Stealth Black finish, suggesting purpose and adventure. It is intended for riders who view every route as a calling.

The Mana Black edition is intended for the spirited rider prepared for adventure and comes with factory-fitted equipment. The machine embodies Royal Enfield's Philosophy, enabling those who aspire to travel farther and conquer.

A distinguishing feature of the Mana Black Edition is its factory-accessorised setup, complete with curated adventure equipment. Components include – black rally hand guards, black rally seat for grip and long-distance comfort, rally mudguard for rough routes and tubeless spoked wheels for durability.

The motorcycle is powered by the Sherpa 450 engine, maintaining the performance and agility of the new Himalayan platform.

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