Honda Motorcycle & Scooter India (HMSI) recorded total sales of 5,67,351 units in February 2026, marking a 34% year-on-year increase over the same month in 2025. Of these, domestic sales stood at 5,13,190 units, while exports contributed 54,161 units — continuing a trend of consistent growth in HMSI's overseas business.
The February performance puts HMSI on course for a strong close to the current financial year. For the April 2025–February 2026 period of FY26, the company's cumulative sales reached 58,20,556 units. Domestic volumes for the year-to-date period totalled 52,37,169 units, while exports came in at 5,83,387 units. With one month of the financial year remaining, the figures suggest HMSI is set to record one of its highest annual sales tallies.
HMSI's February numbers arrive at a time when India's two-wheeler market is posting broad-based growth. The sector ended 2025 at over 20.7 million units — a record, following an even more substantial record of over 20 million units set in 2024, the first time any country crossed that threshold in a single year. Demand has been fuelled by a combination of factors: rising rural incomes, urban commuter needs, GST reductions on internal combustion engine vehicles introduced in mid-2025, and steady replacement and upgrade cycles.
HMSI, a wholly owned subsidiary of Japan's Honda Motor Co., is one of the two dominant players in the Indian two-wheeler market, alongside Hero MotoCorp. The two companies have been engaged in close competition for the top position in monthly sales. In January 2026, Hero MotoCorp held the domestic market lead with 5,20,208 units, while HMSI trailed narrowly with 5,19,579 units — a gap of fewer than 700 units. TVS Motor Company has also been a consistent third-place finisher, with February 2026 sales of 5,29,308 units (including three-wheelers), up 31% year-on-year.
HMSI has historically derived its strength from the scooter segment, where its Activa model has remained the most sold two-wheeler in India for over a decade. However, competition in the scooter space has intensified. TVS Motor Company increased its scooter market share from 22% to 29% in the first half of FY26, while HMSI's share in the same segment slipped from 45% to 39% year-on-year, according to industry data. This shift has been attributed, in part, to TVS's product launches and growing presence in the electric scooter segment — an area where HMSI has made a more cautious entry with its Activa-e and QC1 models, with limited volumes as of early 2026.
Export Performance
India's two-wheeler export market has grown alongside domestic sales. Total exports across the top manufacturers rose approximately 23% year-on-year in February 2026, driven by demand from markets in Africa, Latin America, and Southeast Asia. Bajaj Auto remains the country's largest two-wheeler exporter by volume, but HMSI has shown consistent export growth in recent months, with February's 54,161 units representing a continuation of that upward trajectory.
Beyond sales, HMSI used February to carry out a round of road safety activities under its ongoing "Safety for Everyone" programme. The company conducted campaigns across 12 cities — Ajmer, Pune, Nashik, Narnaul, Vadodara, Hisar, Gorakhpur, Katihar, Aurangabad, Mangalore, Chhindwara, and Kochi — with the stated aim of promoting responsible riding behaviour. Road Safety Conventions were held in Gwalior, Kochi, Agra, and Madurai, where the company engaged school principals and teachers to encourage road safety education among children.
HMSI's Traffic Training Parks in Chennai and Jaipur also marked their anniversaries during the month. The parks, which offer structured rider training, are part of a broader effort to address India's road safety challenges. India accounts for a significant share of global road fatalities, and two-wheelers are among the most vulnerable vehicle categories on the country's roads.
The company also incorporates safety technologies — including Anti-lock Braking Systems (ABS) and Combined Braking Systems (CBS) — across its product range, in line with government mandates that have made CBS mandatory on sub-125cc vehicles and ABS on motorcycles above 125cc.
Network Expansion
HMSI opened a new authorised dealership in Tinsukia, in Assam's upper region, as part of its efforts to deepen its presence in tier-2 and tier-3 markets. Expansion in the northeast and other geographically dispersed areas has been a focus for the company as rural demand continues to account for a large share of overall two-wheeler sales — industry data suggests rural markets contribute roughly 56% of total domestic volumes.
As FY26 approaches its close, HMSI's year-to-date figures and the 34% February growth rate indicate a recovery from a comparatively softer first half, when the company faced market share pressure in both the motorcycle and scooter segments. Whether the second-half momentum can be sustained into FY27 will depend on factors including new product introductions, the pace of electric vehicle adoption, and broader macroeconomic conditions.