India’s two-wheeler industry sustained its strong growth momentum in February 2026, with leading manufacturers reporting robust year-on-year gains in domestic wholesales. The continued demand push is being attributed to improved consumer sentiment and GST rationalisation implemented in September 2025.
While Hero MotoCorp retained its leadership in the domestic market, Honda Motorcycle and Scooter India remained close behind, with a difference of just 3,778 units during the month of February.
Hero MotoCorp: Holds the lead
Hero MotoCorp dispatched 5,16,968 units in the domestic market in February 2026, registering a sharp 44.69 per cent increase over 3,57,296 units sold in February 2025.
Exports also rose to 41,238 units, compared to 30,772 units in the corresponding month last year, underlining improved traction in overseas markets.
The company’s electric mobility arm, VIDA, continued to scale up operations. It reported 12,514 VAHAN registrations in February 2026 and achieved a three-fold increase in market share compared to the same period last year, reflecting rising consumer adoption of electric two-wheelers across key markets.
Honda Motorcycle & Scooter India: Close contender
Honda Motorcycle & Scooter India (HMSI) posted total sales of 5,67,351 units during the month, comprising 5,13,190 units in domestic sales and 54,161 units in exports.
The company recorded a 34 per cent year-on-year growth over February 2025, driven by strong demand across both scooter and motorcycle segments in domestic as well as international markets.
With domestic volumes just 3,778 units shy of Hero, HMSI continued to intensify competition at the top of the sales chart.
TVS Motor Company: EV growth stands out
TVS Motor Company reported a 32 per cent growth in domestic two-wheeler sales, which increased from 2,76,072 units in February 2025 to 3,65,471 units in February 2026.
Notably, the company’s electric vehicle portfolio registered a 60 per cent surge, with EV sales rising from 24,017 units to 38,386 units year-on-year. The performance highlights accelerating consumer interest in electric mobility alongside steady demand for internal combustion engine (ICE) models.
Bajaj Auto: Balanced domestic and export performance
Bajaj Auto reported a 27 per cent increase in domestic sales, which rose to 1,86,164 units in February 2026 from 1,46,138 units a year ago.
Exports also grew by 26 per cent to 1,93,757 units, compared to 1,53,280 units in February 2025. The near-parity between domestic and export volumes reflects Bajaj’s continued strength in global markets, particularly across Latin America, Africa and South Asia.
Suzuki Motorcycle India: Strong double-digit gains
Suzuki Motorcycle India recorded a 37 per cent year-on-year growth, with total sales rising to 1,23,299 units in February 2026 from 89,966 units in the year-ago period.
Domestic sales climbed 38 per cent to 1,01,071 units, while exports grew 33 per cent to 22,228 units. The consistent performance across both segments underscores the brand’s expanding footprint in India and overseas markets.
Royal Enfield: Steady domestic growth
Royal Enfield posted domestic sales of 91,248 units in February 2026, marking a 13 per cent growth over 80,799 units in February 2025.
However, exports saw a marginal dip to 9,657 units from 9,871 units a year earlier, indicating a relatively stable but flat performance in international markets.
