Electric 2W Sales Grow 67% in August But Down 11% on Record July Retails

The advance of the electric two-wheeler industry continued in August 2026 with retail sales (deliveries to customers) of 182,936 units. While this is the fourth highest monthly total this year and up 67% year-on-year (August 2025: 109,673 units), it is down 11% month-on-month on July 2026’s 205,629 units, which was the first month when India e-2W Inc surpassed 200,000 retails and is the highest score yet for e-2Ws. It is likely that as additional registrations get factored in n the Vahan portal for August 31, total retails for last month will cross 186,000 units.

The Top 4 players – TVS Motor Co, Bajaj Auto, Ather Energy and Hero MotoCorp – with 137,578 units accounted for 75% of total deliveries in August. This performance is in tandem with their 76% share of the 1.36 million units India e-2W Inc has retailed in January-August 2026. Let’s take a closer look at the Top 10 OEMs in August 2026.

Retail sales of 182,936 units are the fourth highest monthly total this year and take the cumulative eight-month total to 1.36 million units, placing India e-2W Inc well on track to surpass the 2-million milestone in CY2026.

TVS Motor Co: 48,873 units, up 91% YoY / down 12% MoM
Market share in August: 27%
TVS Motor Co sold 48,873 units of the iQube and Orbiter e-scooters, up 91% YoY. These strong sales, however, are down 12% on the company’s July sales (55,823 units) which are both TVS’ highest monthly retails as well as for the overall e-2W industry. TVS had a 27% market share last month, improving on the 23% a year ago.

TVS’ cumulative eight-month sales of 356,579 units are up 77% YoY (January-August 2025: 200,945 units) and have exceeded its CY2025 sales of 315,082 units. This means the company is on track to achieve a record 525,000 units in CY2026, surpassing the half-a-million annual sales milestone for the first time. With every fifth scooter it sold in Q1 FY2027 being electric, EVs are now a key growth driver for TVS which also markets ICE scooters like the Jupiter, NTorq and Zest.

While the flagship iQube remains the model with the highest share of sales, the Orbiter is witnessing growing demand. What has helped drive demand is TVS’ strategic move to offer the Battery-As-A-Service (BaaS) across its EV portfolio. The BaaS model lowers the upfront cost, while offering customers long-term battery assurance.

Bajaj Auto: 41,019 units, up 235% YoY / down 11% MoM
Market share in August: 22%
Bajaj Auto, which along with TVS, has also sold over 300,000 units in the first eight months of this year, clocked retail sales of 41,019 units last month. This is a 235% YoY increase (August 2025: 12,246 units) albeit the very high growth is more a result of August 2025 production and sales being impacted by supply chain issues last year. For Bajaj, its August 2026 sales are its fourth highest monthly total after March (47,753 units), July (45,862 units) and June (43,531 units).

For the manufacturer of the Chetak, cumulative eight-month sales of 305,226 units are up 69% YoY and will enable it to cross the 400,000 annual sales milestone for the first time this year. In CY2025, Bajaj Auto had sold 279,687 units.

Ather Energy: 28,708 units, up 49% YoY / down 6% MoM
Market share in August: 16%
Smart e-scooter OEM Ather Energy sold 28,708 units last month, up 49% YoY (August 2025: 19,210 units) and down 6% MoM (July 2026: 30,636 units) which gives it a 16% share for the month. The startup has sold 229,099 e-scooters in this year to date, up 83% YoY (January-August 2025: 125,499 units) for a 17% market share compared to 15% in the year-ago eight-month period.

Ather, which sold 215,034 units in CY2025, has already delivered an additional 14,065 e-scooters this year, with four months still to be counted in CY2026. Having just launched its most affordable model, the Konarc, at Rs 99,999 (ex-showroom), the EV startup will be looking to close in on TVS and Bajaj Auto in the months to come.

Hero MotoCorp (Vida): 18,978 units, up 38% YoY / down 17% MoM
Market share in August: 10%

Fourth-ranked Hero MotoCorp (Vida) registered retail sales of 18,978 units in August 2026, up 38% YoY (August 2025: 13,769 units). This total though is 17% lower than its July 2026 sales (22,989 units) which are its highest monthly deliveries to date. Strong demand for the Vida VX2 Go and Plus models, aided by the BaaS option, has helped Hero Vida increase its sales. The brand expanded its line-up in July with the VX2 Plus 4.4kWh at Rs 143,000 lakh and the new VX2 Go FB – a fixed-battery variant with a 3.1kWh pack priced at Rs 1.13 lakh. Cumulative January-August 2026 sales of 148,069 units have given Hero Vida the momentum to surpass the 200,000 annual sales milestone for the first time this year.

Ola Electric: 13,849 units, down 29% YoY / down 3% MoM
Market share in August: 8%
Ola Electric sold 13,849 electric scooters and motorcycles in August, down 29% YoY (August 2025: 14,228 units) and is the sole OEM amongst the Top 10 to register a decline last month. After three months of sustained growth – April (12,392 units), May (15,294 units) and June (16,273 units) – it saw sales decline MoM in July (14,228 units) and August (13,849 units).  

Ranked No. 5 on the OEM ladder, Ola’s current monthly market share is 8%, considerably down from the 18% it had in August 2025 when it was No. 3 on the OEM podium after TVS and Bajaj Auto. Ola’s eight-month sales of 94,307 units this year are down 39% YoY (January-August 2025: 155,951 units).

Greaves Electric Mobility: 8,612 units, up 89% YoY / down 15% MoM
Market share in August: 5%
The IPO-bound Greaves Electric Mobility, which manufactures Ampere e-scooters, witnessed another month of strong sales. August saw it deliver 8,612 units to register 89% YoY growth (August 2025: 4,567 units). This, however, is 1,523 fewer units than it sold in July (10,135 units) and a 15% MoM decline. GEM’s cumulative January-August 2026 sales of 62,560 units are up 79% on the year-ago sales of 34,862 units.

Demand has risen following the launch of the new Ampere Magnus Neo, a lighter and redesigned variant aimed at urban commuter buyers in April and the upgraded version of its Magnus G Max in early August. GEM’s EV portfolio comprises the Nexus (EX and ST), Magnus (G Max, Grand, Neo) and Reo 80 brands. 

River Mobility: 5,134 units, up 170% YoY
Market share in August: 3%
The Bengaluru-based River Mobility, which continues to impress month on month, sold 5,134 units in August 2026 to post 170% YoY growth (August 2025: 1,903 units) albeit it is down 15% MoM on its highest monthly retails of 6,030 units in July 2026. Cumulative sales for the first eight months of CY2026 at 32,770 units have jumped 237% YoY albeit on a low base (January-August 2025: 9,719 units). What is noteworthy about the River Indie's sales is that demand is growing for its premium Indie e-scooter, which is priced at Rs 152,000 (ex-showroom) and rivals the top-end variants of the TVS iQube, Bajaj Chetak, and Ather Rizta. 

Three startups make up the last three OEMs in the Top 10 list for August. At No. 8 is Bgauss Auto, which began sales in August 2022 and is now a regular in the monthly Top 10 OEM list. Bgauss sold 4,844 units last month, up 180% YoY (August 2025: 1,729 units). 

Simple Energy with 1,635 e-scooters (up 122% YoY) from its three-model portfolio – Simple One (4.5 kWh, 5 kWh), OneS and Ultra, takes ninth rank. The company has outlined an ambitious future sales target of 10,000 units a month by March 2027. It could be banking on its soon-to-be-launched e-scooter, the Simple Arrive, which will mark the company’s entry into the family scooter segment, taking on the Ather Rizta, TVS iQube and Bajaj Chetak. Wrapping up the Top 10 OEM listing is Kolkata-headquartered Motovolt Mobility with 1,365 e-scooters.

The Top 4 manufacturers – TVS Motor Co, Bajaj Auto, Ather Energy and Hero MotoCorp – with 137,578 units accounted for 75% of the 182,936 electric two-wheelers delivered to buyers in August.

Growth Set to Accelerate in Festive Season

September heralds the onset of the festive season in India and should see fresh buying of vehicles across segments. A tailwind to increased demand for electric 2Ws as also other vehicles is GDP growth of 7.8% in the April-June 2026 quarter, despite a number of challenges including rising crude oil prices as well as supply chain issues.

August sales (182,936 units) have taken cumulative eight-month e-2W sales in the current calendar year to 13,61,170 units, thereby surpassing entire CY2025’s 1.34 million units. As a result, with four months still left in this year, the 190-OEM-strong e-2W industry is well set to achieve the 2-million annual sales milestone for the first time this year. At the start of September, it is 838,974 units away from surpassing that milestone.

All these numbers are ample proof that the e-2W category – the largest volume provider to India EV Inc – is on a roll this year. With petrol prices surging in May as a result of the multiple hikes, a growing number of ICE scooter buyers are actively considering a shift to zero-emission models, which leading players like TVS, Bajaj Auto, Ather Energy, Hero Vida, Ola and Greaves Electric Mobility are capitalising on. Recent entrants into the Top 10 like Bgauss Auto, River Mobility and Simple Energy are also witnessing strong sales.

Other growth drivers for e-2Ws are the PM E-Drive program, improving rural cashflow following a recovered monsoon and the steady repo rate of 5.25 percent. Given the current growth momentum, will monthly retails in September, October and November cross the 200,000 mark? Stay plugged into Autocar Professional as we bring you the latest market updates and real-world retail sales statistics on EVs on two, four and more wheels.