India's Two-Wheeler Retail Sales Hit Record September High
Indian two-wheeler retail registrations surged 33% year-on-year to a record 1.79 million units in September 2026, driven by strong growth in both urban and rural markets. Honda led the market as electric vehicle share surpassed 11%.
Two-wheeler retail in India reached its highest-ever September volume with strong month-on-month and year-on-year growth in both urban and rural areas. Registrations hit 17,90,188 units, a 33.08% increase over September 2025. This performance was 15.3% higher than the previous September peak recorded in 2018.
Month-on-month growth was also robust. Sales rose 4.41% from August 2026. Urban retail increased by 5.29% while rural retail grew by 3.62%. Year-on-year growth was nearly identical across both regions, with rural areas up 33.11% and urban areas up 33.06%.
Market share shifts among major players
Honda maintained its market leadership with increased share, while Hero saw a slight decline and TVS gained ground. The competitive dynamics are reflected in the detailed sales and share figures for September 2026.
| Manufacturer | Retail Units (Sept 2026) | Market Share (Sept 2026) | Share vs. Sept 2025 |
|---|---|---|---|
| Honda | 4,68,789 | 26.19% | Up from 25.24% |
| Hero MotoCorp | 4,34,280 | 24.26% | Down from 24.57% |
| TVS Motor | 3,64,640 | 20.37% | Up from 19.03% |
| Bajaj Auto | 1,66,112 | 9.28% | Confirmed |
| Royal Enfield | 1,02,226 | 5.71% | Confirmed |
Honda Motorcycle & Scooter India led with 4,68,789 units. Hero MotoCorp followed in second place with 4,34,280 registrations. TVS Motor Company's strong performance saw it capture over a fifth of the market.
Electric two-wheelers gain traction amid broader fuel mix
Electric two-wheelers accounted for over 11% of retail sales in September 2026, up from August and significantly higher than the same month last year. The fuel mix for the month broke down clearly.
| Fuel Type | Share of Total Retail (Sept 2026) |
|---|---|
| Petrol/Ethanol | 88.35% |
| Electric | 11.58% |
| CNG/LPG | 0.07% |
The electric share rose from 10.68% in August 2026 and was substantially higher than the 8.17% recorded in September 2025. Key electric players posted solid numbers. Ather Energy led with 30,533 units, securing a 1.71% market share. Ola Electric registered 13,451 sales. Greaves Electric Mobility posted 9,316 units for a 0.52% share, while River Mobility and BGauss Auto registered 5,556 and 5,023 units respectively.
Top manufacturers post strong September performances
Beyond the top three, several other manufacturers contributed significantly to the segment's record growth. Bajaj Auto posted retail sales of 1,66,112 units. Royal Enfield crossed the one-lakh mark with 1,02,226 units sold. Suzuki Motorcycle India recorded 1,01,926 registrations, and India Yamaha Motor posted 64,292 units.
The Federation of Automobile Dealers Associations (FADA) attributed the strong month to multiple factors. "Festive purchases, steady demand in rural and semi-urban areas, growing interest in premium motorcycles and rising EV adoption supported the segment during the month," the association said.
Looking ahead, FADA expects two-wheeler booking-to-retail conversion to strengthen in October 2026 due to festive demand, improved rural cash flows, easier financing, and continued interest in EVs.
