Khyati Sharma 2026-10-07
India's two-wheeler retail market recorded a strong performance in September 2026, with total registrations reaching 17,90,188 units. This represents a 33.08% year-on-year increase compared with 13,45,153 units registered in September 2025.
Sales also improved compared with August 2026, when the industry recorded 17,14,610 units. The September figure therefore represents a 4.41% month-on-month increase.
The latest retail data shows strong demand across major manufacturers, with Honda retaining the top position ahead of Hero MotoCorp and TVS Motor. Bajaj, Royal Enfield, Suzuki and Yamaha also recorded year-on-year growth.
Honda Motorcycle & Scooter India continued to lead the retail market in September 2026.
Honda registered 4,68,789 units, compared with 3,39,537 units in September 2025. This represents a strong 38.07% YoY growth.
Honda held a 26.19% market share, making it the only manufacturer in the month to cross the 26% mark.
Hero MotoCorp finished September in second place with 4,34,280 units.
Compared with 3,30,500 units in September 2025, Hero recorded 31.40% YoY growth. However, its market share declined slightly from 24.57% to 24.26%.
The gap between Honda and Hero was more than 34,000 units during the month.
TVS Motor Company registered 3,64,640 units in September 2026, compared with 2,56,042 units in the same month last year.
This translates into an impressive 42.41% YoY growth, the highest among the three largest manufacturers.
TVS also increased its market share from 19.03% to 20.37%, strengthening its position in the Indian two-wheeler market.
Bajaj Auto recorded 1,66,112 retail registrations in September 2026, compared with 1,44,214 units a year earlier.
The company registered 15.18% YoY growth, although its market share declined from 10.72% to 9.28% as other manufacturers grew at a faster pace.
Royal Enfield delivered another strong retail performance, registering 1,02,226 motorcycles in September.
Sales increased from 83,494 units in September 2025 to 1,02,226 units this year, resulting in 22.44% YoY growth.
Despite the increase in volume, its market share slipped from 6.21% to 5.71%.
Suzuki Motorcycle India registered 1,01,926 units in September 2026.
The company sold 82,443 units in September last year, meaning its retail registrations increased by 23.63% YoY.
Suzuki's market share stood at 5.69%, compared with 6.13% in September 2025.
India Yamaha Motor also delivered a strong performance.
Yamaha registered 64,292 units in September 2026, compared with 49,614 units in September 2025. This represents a 29.58% YoY increase.
The company held a 3.59% market share during the month.
| Rank | Manufacturer | Sep 2026 | Sep 2025 | YoY Growth | Market Share |
|---|---|---|---|---|---|
| 1 | Honda | 4,68,789 | 3,39,537 | 38.07% | 26.19% |
| 2 | Hero MotoCorp | 4,34,280 | 3,30,500 | 31.40% | 24.26% |
| 3 | TVS Motor | 3,64,640 | 2,56,042 | 42.41% | 20.37% |
| 4 | Bajaj Auto | 1,66,112 | 1,44,214 | 15.18% | 9.28% |
| 5 | Royal Enfield | 1,02,226 | 83,494 | 22.44% | 5.71% |
| 6 | Suzuki | 1,01,926 | 82,443 | 23.63% | 5.69% |
| 7 | Yamaha | 64,292 | 49,614 | 29.58% | 3.59% |
The top three manufacturers continued to account for the majority of India's two-wheeler retail market.
Honda, Hero MotoCorp and TVS together registered more than 12.67 lakh units during September. Their combined volume represented roughly 71% of the total two-wheeler retail market.
TVS was particularly notable because its 42.41% YoY growth was faster than both Honda and Hero, helping the company increase its market share during the month. RushLane
September also saw increasing demand for electric two-wheelers.
Electric two-wheelers accounted for approximately 11.58% of total two-wheeler registrations, compared with 8.17% during September 2025. Ather Energy registered 30,533 units, while Ola Electric recorded 13,451 units.
Several smaller electric manufacturers also recorded significant year-on-year growth, indicating that the EV segment continues to expand alongside the conventional petrol two-wheeler market.
Total two-wheeler retail sales reached 17.90 lakh units.
The September retail numbers point to a significant improvement in two-wheeler demand ahead of India's festive buying season. Strong growth from Honda, Hero and TVS indicates that both commuter motorcycles and scooters continued to see healthy customer demand.
The performance of Royal Enfield, Suzuki and Yamaha also shows that demand was not limited to mass-market products. At the same time, rising electric two-wheeler registrations indicate that buyers are gradually expanding their choices beyond conventional petrol-powered models.
With the festive season continuing into October, manufacturers are likely to see further changes in retail rankings and market shares.
