India’s Two-Wheeler Sales – January 2026: Numbers, Leaders and Market Dynamics
India’s two-wheeler industry kicked off calendar year 2026 with strong momentum, reflecting both pent-up demand after year-end stock adjustments and signs of sustained recovery across categories. According to industry figures released by OEMs and sales trackers, January 2026 was a significant month both in volume and competitive intensity — especially in core segments such as commuter motorcycles, scooters, and growing electric two-wheelers.
Overall Industry Figures
The total two-wheeler sales in India for January 2026 reached close to 5 lakh units, marking a strong year-on-year (YoY) growth compared with January 2025. Industry sources suggest that combined volumes — including domestic registrations and export dispatches — indicated an overall increase of nearly 28 % compared to the same month last year, signalling robust demand across geographies.
This strong start aligns with broader industry trends, where the total two-wheeler sales for the full calendar year 2025 crossed 20.5 million units, reflecting a rebound in consumer and rural mobility demand even as it remained below historical peaks.
Company-wise Sales Performance
A closer look at the company-wise performance in January 2026 reveals a highly competitive market with Hero MotoCorp and HMSI (Honda Motorcycle & Scooter India) battling neck-and-neck for the top market share, while TVS Motor Company, Suzuki Motorcycle India, Bajaj Auto, and Royal Enfield posted healthy volumes and significant growth.
Hero MotoCorp
Hero continued to assert leadership in overall dispatches in January 2026, reporting about 557,871 units shipped to dealers. This represented a year-on-year increase of around 26 %, up from approximately 442,873 units in January 2025. Both domestic demand and exports contributed to this growth, with dealer dispatch and Vahan registrations indicating strong retail absorption.
Hero’s advantage lies in its broad reach in commuter motorcycle segments, with strong sales coming from its flagship models such as the Splendor and Passion, which remain favorites in both rural and urban markets.
Honda Motorcycle & Scooter India
Honda recorded total sales of around 574,411 units in January 2026 — a nearly 29 % increase YoY — underlining a strong start to CY2026. Of these, approximately 519,579 units were domestic sales, while 54,832 units were exported. The company’s pivotal scooter lineup (especially Activa variants) and popular commuter motorcycles helped drive volumes.
Honda’s sequential monthly growth also indicates buyers upgrading to higher variants and a rebound in metro and tier-2 city demand following year-end inventory adjustments.
TVS Motor Company
TVS posted about 511,766 two-wheelers sold in January 2026, which translated into a near-29 % YoY increase compared to January 2025. This included strong performances in both motorcycle and scooter categories with motorcycle sales of circa 219,188 units and scooter volumes around 222,926 units. Moreover, TVS’s electric two-wheeler sales saw a solid uptick, rising around 50 % to almost 37,756 EV units for the month.
TVS’s balanced product portfolio — spanning 125cc commuters, performance bikes, and electric scooters like iQube — has enabled it to capture both urban and emerging rural market opportunities.
Suzuki Motorcycle India
Suzuki Motorcycle India delivered around 125,786 units in January 2026, up about 15 % compared to January 2025. Domestic volumes stood at just over 100,000 units, while exports contributed approximately 25,490 units. Suzuki’s scooter models like the Access 125 and Burgman continue to appeal to buyers seeking refined performance without a high price tag.
Bajaj Auto
Bajaj Auto’s January 2026 figures indicated around 406,295 two-wheelers sold, translating into a 24 % YoY increase. Domestic retail demand and export growth jointly supported Bajaj’s performance. Domestic sales — especially for commuter bikes and its Chetak electric scooter — showed traction, while international markets remained a key growth driver for motorcycle exports.
Royal Enfield
Though a smaller player compared to the mass commuter brands, Royal Enfield achieved noteworthy volumes, with about 104,322 units sold in January 2026 — a healthy increase of around 14 % compared with January 2025. Domestic figures accounted for roughly 93,781 units and exports touched 10,541 units. Royal Enfield’s premium mid-sized motorcycle segment continues to draw enthusiasts and buyers in urban and Tier-2 markets.
Segment Trends and Growth Drivers
Motorcycles Remain the Backbone
Commuter and entry-level motorcycles continued to dominate volume, largely driven by fuel efficiency preferences, enhanced financing options, and rural market recovery following a lull in late 2025. Premium motorcycles and high-performance variants also contributed meaningfully, especially through export demand.
Scooter Volume and Female Buyer Participation
Scooters regained share with strong contributions from models like Honda’s Activa and TVS’s scooter lineup. Urban buyers and increasing female participation further buoyed scooter demand, as ease of use and convenience remain significant purchase drivers.
Electric Two-Wheelers Showing Momentum
While still a fraction of total industry volumes, electric two-wheelers continued strong growth, led by brands like TVS and Hero-aligned EV ventures. Reports indicate that early January retail EV deliveries exceeded 1 lakh e-2w units across OEMs and models — an encouraging sign for long-term adoption.
Exports and Retail Demand Balance
Export volumes played a key role for companies like Hero and Suzuki, smoothing seasonal volatility and adding robust demand streams beyond domestic markets. This global demand cushion helped many OEMs achieve double-digit growth despite varying regional patterns in India.
What January 2026 Tells Us
The January 2026 sales performance suggests that the Indian two-wheeler market is emerging from inventory corrections and seasonal slowdowns with renewed consumer appetite. Growth across motorcycle, scooter, and EV segments combined with strong exports signals an industry poised for a stable expansion trajectory in CY2026.
Market leaders maintained positions through diversified product portfolios, targeted pricing strategies, and expanding reach into semi-urban and rural corridors. Meanwhile, electric mobility — though early in its diffusion — continues to gain strategic importance.
With foundations of robust demand, improving rural income indicators, and supportive financing trends, the Indian two-wheeler market appears set to deliver another year of meaningful growth.
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