India’s 2W industry crossed 10 million wholesales in April–September 2025 for the second year running, up less than 1%. Record scooter sales of 3.72 million offset a 2% motorcycle decline to 6.27 million.
27 Oct 2025 | 8702 Views | By Ajit Dalvi
The Indian two-wheeler industry, which comprises motorcycles, scooters and mopeds, is in good nick after the first six months of the current fiscal year, and that’s thanks mainly to robust demand for scooters. Between April and September 2025, a total of 1,02,36,639 two-wheelers comprising motorcycles, scooters and mopeds were dispatched ...
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The Indian two-wheeler industry, which comprises motorcycles, scooters and mopeds, is in good nick after the first six months of the current fiscal year, and that’s thanks mainly to robust demand for scooters. Between April and September 2025, a total of 1,02,36,639 two-wheelers comprising motorcycles, scooters and mopeds were dispatched to dealers across the country. While this makes for near-flat growth (+0.7% YoY), the fact remains that the industry has exceeded the 10-million mark in the first-half of a fiscal for the second year running.
The 10.23 million units make for an additional 71,659 units over H1 FY2025 (10.16 million units) and 52% of FY2025’s 2W wholesales of 19.60 million units (up 9.1% YoY) and 48% of India 2W Inc’ best-ever sales of 21.18 million units in FY2019.
Record scooter sales of 3.72 million units have saved the blushes for the 2W industry as motorcycles sales are down 2% at 6.27 million units and mopeds by 7% in first-half FY2026.
This volume segment of India Auto Inc had crossed the 10-million-unit wholesales mark after six years in H1 FY2025 and now again in H1 FY2026 (see the 12-first-half-fiscal wholesales data table above). The highest sales for the first six months of a fiscal were in H1 FY2019 – 1,15,68,498 units – with that entire fiscal year's total wholesales being the highest yet at 21 million two-wheelers. With the recent reduced GST 2.0, will FY2026 improve upon FY2019 and turn out to be the best fiscal yet for domestic market 2W sales? We’ll have to wait another six months to find out.
If H1 FY2026 sales have risen albeit marginally, then it’s thanks to the robust demand for scooters which have saved the blushes for the overall 2W segment. In comparison, in H1 FY2025, all three sub-segments (scooters, bikes and mopeds) had registered double-digit growth. In the April-September 2025 period, while motorcycle sales were down 2% and mopeds down 7%, scooters were the only segment to register growth.
SCOOTER INDUSTRY HEADED FOR RECORD 7 MILLION SALES IN FY2026
Powered by its best-ever monthly sales of 733,391 units in September 2025, the Indian scooter industry, which hit record wholesales of 6.85 million units in FY2025, seems well set for another mega fiscal in FY2026. Halfway into the current fiscal year, as per SIAM wholesales data, scooter makers have clocked best-ever first-half fiscal-year sales of 37,21,709 units, up 6.42% YoY (H1 FY2025: 34,97,300 units). If this segment, which is also benefiting from demand for electric scooters, maintains the same growth trajectory, it will likely surpass the 7 million sales mark for the first time in FY2026.
While scooter leader Honda’s market share has reduced to 39%, TVS’ share has risen to 29 percent. Suzuki, Hero MotoCorp and Ather Energy also saw increases in their scooter market share.
Interestingly, the scooter segment is witnessing changing market dynamics. Leader Honda's 1.43 million units (-9% YoY) saw its market share drop from 45% to 39%, while TVS's 1.08 million units (+27%) has seen its market share increase to 29 percent. While Suzuki, Hero MotoCorp and Ather Energy posted strong sales, Bajaj Auto struggled due to production issues in July-August.
MOTORCYCLE SALES DOWN FOR HONDA AND HERO, UP FOR TVS AND ROYAL ENFIELD
If the overall first-half motorcycle wholesales are down 2% YoY, it’s because the top two players – Hero MotoCorp and Honda – which accounted for 62% of bike sales both saw a decline in their factory dispatches and, as a result, in market share. In fact, of the 10 motorcycle manufacturers, only three – TVS Motor Co, Royal Enfield and India Kawasaki – registered YoY growth.
Motorcycle market leader Hero MotoCorp clocked sales of 2.64 million units, down 4% YoY, selling 117,368 fewer bikes and its market share reducing marginally to 42% from 43% a year ago. Likewise, Honda, with 1.24 million units sold n H1 FY2026, is down by a similar 4% YoY which sees its market share down to 16% from 17% a year ago.
Third-ranked Bajaj Auto, with a million motorcycles, registered an 8% YoY decline, with the resultant impact on market share dropping to 16% from 17% n H1 FY2025.
Of the 10 motorcycle OEMs, only three – TVS, Royal Enfield and India Kawasaki – registered YoY growth. All the seven other bike makers saw their market shares reduce year on year.
TVS Motor Co sold 56,121 additional motorcycles in H1 FY2026 over H1 FY2025 – the 683,149 units are a 9% YoY increase and give it a market share of 11% compared to 10% a year ago.
Midsize motorcycle major Royal Enfield has benefited the most. The 521,482 units are a strong 27% YoY increase (H1 FY2025: 410,843 units) and give it a first-half FY2026 market share of 8% compared to 6% a year ago.
Yamaha is the only other OEM to achieve six-figure sales. The 169,703 units sold between April and September 2025 are down 18% YoY.
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