TVS Motor Company emerged as the leading manufacturer in India's electric two-wheeler retail market for October 2026, clocking 60,490 units to nearly double its volumes with a 94.7 percent year-on-year growth compared to 31,075 units in October 2025.
Data released by the Federation of Automobile Dealers Associations (FADA) showed that total electric two-wheeler retail sales reached 2,24,064 units during the month, marking an overall annual increase of 48.5 percent.
Despite the strong annual growth trajectory, the sector experienced a minor month-on-month contraction in overall penetration. Electric two-wheeler market share dipped to 9.7 percent in October 2026 from 11.6 percent in September 2026, primarily driven by the Diwali calendar shift from October in 2025 to November this year.
The competitive landscape saw traditional legacy automakers capturing significant ground, while early pure-play electric vehicle pioneers faced slower momentum or declines. Bajaj Auto secured the second position with 49,126 units, reflecting a 51.3 percent year-on-year increase, while Ather Energy recorded 31,833 units, a smaller 5.3 percent growth. Hero MotoCorp also posted robust growth with 29,923 units, up 81.4 percent compared to the previous year. In contrast, Ola Electric experienced a contraction, registering 12,098 units to post a 26.4 percent decline year-on-year and a 10.1 percent drop from September 2026.