India Two-Wheeler Retail Sales Rise 20% in August 2026; Honda Leads, TVS Gains Share
- Team Autopunditz
- 1 hour ago
- 4 min read
India’s two-wheeler market maintained strong momentum in August 2026, with retail registrations reaching 17,14,610 units, compared with 14,32,537 units in August 2025. This represents a healthy 19.7% year-on-year growth, according to Vahan-based retail data compiled by FADA Research.
The market remained highly concentrated among the established manufacturers, with Honda, Hero MotoCorp and TVS Motor together accounting for more than 70% of total two-wheeler registrations during the month. At the same time, several electric two-wheeler manufacturers continued to expand their presence, led by Ather Energy.
August 2026 Two-Wheeler Sales at a Glance
OEM | Aug 2026 | Market Share | Aug 2025 | Market Share | YoY Growth |
Honda Motorcycle & Scooter India | 4,47,342 | 26.09% | 3,72,867 | 26.03% | 20.0% |
Hero MotoCorp | 4,13,996 | 24.15% | 3,49,039 | 24.37% | 18.6% |
TVS Motor Company | 3,53,746 | 20.63% | 2,82,347 | 19.71% | 25.3% |
Bajaj Auto | 1,57,149 | 9.17% | 1,36,335 | 9.52% | 15.3% |
Suzuki Motorcycle India | 1,04,217 | 6.08% | 96,184 | 6.71% | 8.4% |
Royal Enfield | 94,448 | 5.51% | 76,505 | 5.34% | 23.5% |
India Yamaha Motor | 62,375 | 3.64% | 55,172 | 3.85% | 13.1% |
Ather Energy | 28,757 | 1.68% | 19,210 | 1.34% | 49.7% |
Ola Electric | 13,852 | 0.81% | 19,464 | 1.36% | -28.8% |
Greaves Electric Mobility | 8,613 | 0.50% | 4,567 | 0.32% | 88.6% |
River Mobility | 5,141 | 0.30% | 1,903 | 0.13% | 170.2% |
BGauss Auto | 4,845 | 0.28% | 1,729 | 0.12% | 180.2% |
Classic Legends | 4,256 | 0.25% | 2,649 | 0.18% | 60.7% |
Piaggio Vehicles | 3,595 | 0.21% | 2,900 | 0.20% | 24.0% |
Others including EVs | 12,278 | 0.72% | 11,666 | 0.81% | 5.2% |
Total | 17,14,610 | 100% | 14,32,537 | 100% | 19.7% |
In August 2026, Honda registered 4,47,342 units, up from 3,72,867 units the previous year, marking a 20% YoY growth.Its market share was 26.09%, nearly unchanged from 26.03% in August 2025, indicating it grew with the overall industry while maintaining its leadership.
Hero MotoCorp registered 4,13,996 units in August 2026, up from 3,49,039 the previous year. Retail volumes rose by 18.6% YoY, though market share slightly declined from 24.37% to 24.15%. The gap with Honda was about 33,000 units, showing intense competition in the Indian two-wheeler market.
TVS Motor Company excelled in August, registering 3,53,746 units, up from 2,82,347 units in August 2025, marking a 25.3% YoY increase. TVS increased its market share from 19.71% to 20.63%, gaining 0.9 percentage points in a year.
Bajaj Auto registered 1,57,149 units, up approximately 15.3% from 1,36,335 units in August 2025. Despite the increase in absolute volumes, Bajaj's market share declined from 9.52% to 9.17%, as the overall two-wheeler industry expanded at a faster pace.
Suzuki Motorcycle India recorded 1,04,217 registrations in August 2026, an 8.4% YoY growth from 96,184 units last year. However, its market share fell from 6.71% to 6.08%, indicating slower growth than the broader two-wheeler market.
Royal Enfield saw strong demand, with 94,448 units sold in August 2026, a 23.5% increase from 76,505 in August 2025. Its market share rose from 5.34% to 5.51%, marking it as a notable share gainer among established ICE manufacturers.
Yamaha Motor recorded 62,375 retail registrations, up from 55,172 units last year.
Sales increased by approximately 13.1% YoY, although market share slipped from 3.85% to 3.64%.
Ather Energy emerged as one of the strongest performers. Ather registered 28,757 units in August 2026, compared with 19,210 units in August 2025, marking an impressive 49.7% YoY increase.Its overall two-wheeler market share climbed from 1.34% to 1.68%.
Ola Electric registered 13,852 units in August 2026, compared with 19,464 units during August 2025. That translates into a significant 28.8% YoY decline. Ola's share of the overall two-wheeler market consequently dropped from 1.36% to just 0.81%.
Greaves Electric Mobility registrations almost doubled to 8,613 units, up around 89% YoY.
River Mobility saw registrations rise from just 1,903 units to 5,141 units, representing approximately 170% growth.
BGauss Auto increased registrations from 1,729 units to 4,845 units, an increase of roughly 180% YoY.
Classic Legends, which operates brands such as Jawa and Yezdi, registered 4,256 units, compared with 2,649 units last year. This represents an impressive 60.7% YoY increase, while its market share improved from 0.18% to 0.25%. Piaggio also recorded growth of around 24%, with August registrations rising to 3,595 units.
Two-Wheeler Market Expands by Over 2.8 Lakh Units
The overall Indian two-wheeler market added approximately 2.82 lakh incremental registrations compared with August 2025.
Total registrations increased from 14.33 lakh units to 17.15 lakh units, suggesting a broad-based improvement in consumer demand.
The strong performance is particularly noteworthy because growth was spread across motorcycles, scooters, premium motorcycles and electric two-wheelers rather than being driven by a single manufacturer.
Auto Punditz Take
August 2026 was a strong month for India's two-wheeler industry, with retail volumes growing almost 20% year-on-year.
Honda retained its leadership position, but TVS Motor was arguably the most impressive performer among the major manufacturers. Its 25% growth helped it cross the 20% market-share mark and narrow the gap with Hero MotoCorp.
Royal Enfield also continued to outperform the broader market, while Suzuki, Yamaha and Bajaj saw their market shares decline despite reporting higher volumes.
The more interesting battle, however, is developing in electric two-wheelers. Ather's nearly 50% growth contrasts sharply with Ola Electric's 29% decline, while smaller players such as River, BGauss and Greaves are scaling rapidly.
With India's festive season gathering momentum over the coming months, two-wheeler retail demand could remain elevated as manufacturers intensify offers, new launches and dealer-level promotions.
Source: Vahan vehicle retail registration data compiled by FADA Research. Data has been collated as of September 4, 2026 from 1,467 of 1,469 RTOs. Figures represent retail registrations and should not be confused with OEM wholesale/dispatch data.
