Two-Wheeler Retail Sales Rise 33% in September 2026; Honda Leads, TVS Gains Strongly
India’s two-wheeler retail market recorded a strong performance in September 2026, with total registrations reaching 17,90,188 units, according to retail registration data released by the Federation of Automobile Dealers Associations (FADA).
This represents a robust 33.1% year-on-year growth compared with 13,45,153 units registered in September 2025.
Honda Motorcycle & Scooter India retained its position as the country’s largest two-wheeler OEM during the month, while Hero MotoCorp remained a close second. TVS Motor Company posted one of the strongest growth rates among the major conventional two-wheeler manufacturers and also increased its market share significantly.
Two-Wheeler OEM Retail Sales – September 2026
OEM | Sep 2026 Sales | Market Share | Sep 2025 Sales | YoY Growth |
Honda Motorcycle & Scooter India | 4,68,789 | 26.19% | 3,39,537 | 38.1% |
Hero MotoCorp | 4,34,280 | 24.26% | 3,30,500 | 31.4% |
TVS Motor Company | 3,64,640 | 20.37% | 2,56,042 | 42.4% |
Bajaj Auto | 1,66,112 | 9.28% | 1,44,214 | 15.2% |
Royal Enfield | 1,02,226 | 5.71% | 83,494 | 22.4% |
Suzuki Motorcycle India | 1,01,926 | 5.69% | 82,443 | 23.6% |
Yamaha Motor | 64,292 | 3.59% | 49,614 | 29.6% |
Ather Energy | 30,533 | 1.71% | 19,620 | 55.6% |
Ola Electric | 13,451 | 0.75% | 13,862 | -3.0% |
Greaves Electric Mobility | 9,316 | 0.52% | 4,352 | 114.1% |
River Mobility | 5,556 | 0.31% | 1,895 | 193.2% |
BGauss Auto | 5,023 | 0.28% | 2,524 | 99.0% |
Classic Legends | 4,573 | 0.26% | 3,192 | 43.3% |
Piaggio Vehicles | 3,778 | 0.21% | 2,751 | 37.3% |
Bounce Electric | 3,069 | 0.17% | 895 | 242.9% |
E-Sprinto Green Energy | 1,997 | 0.11% | 957 | 108.7% |
Others Including EV | 10,627 | 0.59% | 9,261 | 14.8% |
Total | 17,90,188 | 100% | 13,45,153 | 33.1% |
Honda Motorcycle & Scooter India led the market with 4,68,789 retail registrations in September 2026, securing a 26.19% market share and growing 38.1% YoY.
Hero MotoCorp ranked second with 4,34,280 units, accounting for 24.26% market share, with sales rising 31.4% YoY.
TVS Motor Company registered 3,64,640 units in September 2026, capturing 20.37% market share and recording a strong 42.4% YoY growth.
Bajaj Auto posted retail sales of 1,66,112 units, with a 9.28% market share and 15.2% YoY growth.
Royal Enfield registered 1,02,226 units, securing a 5.71% market share and growing 22.4% YoY.
Suzuki Motorcycle India recorded 1,01,926 units in September 2026, with a 5.69% market share and 23.6% YoY growth.
India Yamaha Motor posted 64,292 retail registrations, accounting for 3.59% market share and registering 29.6% YoY growth.
Ather Energy recorded 30,533 units, capturing 1.71% market share and delivering a strong 55.6% YoY growth.
Ola Electric registered 13,451 units in September 2026, with a 0.75% market share, while volumes declined 3.0% YoY.
Greaves Electric Mobility registered 9,316 units, securing 0.52% market share and more than doubling its volumes with 114.1% YoY growth.
River Mobility posted 5,556 units, with a 0.31% market share and an impressive 193.2% YoY growth.
BGauss Auto registered 5,023 units, accounting for 0.28% market share and growing 99.0% YoY.
Classic Legends recorded 4,573 units, with a 0.26% market share and 43.3% YoY growth.
Piaggio Vehicles posted 3,778 units, capturing 0.21% market share and recording 37.3% YoY growth.
Bounce Electric registered 3,069 units, accounting for 0.17% market share and posting a sharp 242.9% YoY growth.
E-Sprinto Green Energy recorded 1,997 units, with a 0.11% market share and 108.7% YoY growth.
Others Including EV accounted for 10,627 units, representing 0.59% market share and a 14.8% YoY increase.
Overall, India’s two-wheeler retail market reached 17,90,188 units in September 2026, up 33.1% YoY from 13,45,153 units in September 2025.
Key Takeaways
September turned out to be an exceptionally strong month for India's two-wheeler retail market. Total registrations expanded from 13.45 lakh units to 17.90 lakh units, adding roughly 4.45 lakh units compared with the same month last year.
Honda continued to lead the market, Hero remained firmly in second place, while TVS emerged as one of the biggest beneficiaries of the market expansion.
Among electric manufacturers, Ather continued to strengthen its position, while Greaves, River, BGauss, Bounce and E-Sprinto recorded strong growth from relatively smaller bases. Ola Electric, in contrast, registered a marginal year-on-year decline.
Overall, September 2026 data points towards strong retail momentum across India's two-wheeler industry, with both established ICE manufacturers and several emerging EV brands participating in the expansion.
