India’s two-wheeler industry closed FY2025-26 on a strong note, with March 2026 delivering one of the highest monthly sales volumes of the year. Driven by year-end demand, better financing options, rural recovery, and rising preference for fuel-efficient and entry-level bikes, the market saw solid momentum across all major brands.
In this detailed, Google Discover–friendly article, we break down brand-wise performance, FY26 trends, top-selling models, and what lies ahead for FY2027.
March 2026 Two-Wheeler Sales Overview
March is traditionally a high-sales month due to financial year closing, and 2026 was no exception.
- Total industry sales crossed 13 lakh units (estimated)
- Strong demand from both urban and rural markets
- Scooter segment remained highly popular
- Entry-level commuter bikes dominated overall volumes
- Electric two-wheelers continued gaining traction
The combination of discounts, festive spillover demand, and improved supply chains helped boost overall dispatch numbers.
Brand-wise Sales Performance – March 2026
Here’s how the top two-wheeler manufacturers performed:
| Rank | Brand | Performance | Key Highlights |
|---|---|---|---|
| 1 | Hero MotoCorp | Market Leader | Strong rural demand, Splendor leads |
| 2 | Honda | Close Second | Activa & Shine dominate |
| 3 | TVS Motor | Fast Growth | Scooters + EV success |
| 4 | Bajaj Auto | Stable | Pulsar range steady |
| 5 | Suzuki | High Growth | Access 125 popular |
| 6 | Royal Enfield | Premium Leader | Classic 350 strong |
| 7 | Yamaha | Niche Growth | R15, MT series demand |
The gap between Hero MotoCorp and Honda continues to narrow, while TVS Motor Company is emerging as one of the fastest-growing brands
FY26 Two-Wheeler Market Insights
FY2025-26 turned out to be a growth-driven year for the Indian auto industry.
- Overall growth estimated at 20–25% YoY
- Strong recovery in rural demand
- Scooter segment contributed significantly
- Export markets improved for Bajaj and TVS
- Electric vehicle (EV) segment expanded rapidly
The industry benefited from macroeconomic stability, better credit availability, and increased mobility demand.
Company-wise Detailed Analysis
Hero MotoCorp
Hero retained its position as the market leader in FY26.
- Best-selling model: Splendor
- Strong rural and semi-urban presence
- Focus on affordable, fuel-efficient bikes
Honda Motorcycle & Scooter India
Honda remained a close competitor to Hero.
- Activa continues as India’s top-selling scooter
- Shine performs strongly in the commuter segment
- Strong urban market share
TVS Motor Company
TVS showed impressive growth in FY26.
- Strong scooter lineup (Jupiter, Ntorq)
- Leading position in EV segment with iQube
- Increasing export contribution
Bajaj Auto
Bajaj maintained a stable performance.
- Pulsar range continues to drive sales
- Strong export footprint
- Focus on performance + commuter segments
Suzuki Motorcycle India
Suzuki emerged as a fast-growing player.
- Access 125 remains its best-selling model
- Consistent growth in scooter segment
- Expanding dealership network
Royal Enfield
Royal Enfield dominated the premium motorcycle segment.
- Classic 350 leads sales
- Growing global exports
- Strong brand loyalty
Yamaha Motor India
Yamaha focused on premium and sporty bikes.
- R15 and MT series popular among youth
- Lower volumes but strong brand positioning
- Focus on design and performance
Top Selling Two-Wheelers – March 2026 (Trend)
The following models dominated Indian roads:
- Hero Splendor
- Honda Activa
- Honda Shine
- Bajaj Pulsar
- TVS Jupiter
These models continue to lead due to reliability, mileage, and affordability.
Electric Two-Wheeler Segment Growth
The EV segment saw rapid expansion in FY26.
- Growth estimated at 40%+ YoY
- TVS iQube among top sellers
- Bajaj Chetak and Ather gaining popularity
- Rising government incentives and awareness
EVs are gradually becoming a mainstream choice, especially in urban areas.
Key Growth Drivers
Several factors contributed to strong two-wheeler sales:
- Attractive finance and EMI options
- Improved rural economy
- High fuel prices boosting demand for efficient bikes
- Increasing demand for personal mobility
- Expansion of EV infrastructure
FY2027 Outlook
The Indian two-wheeler industry is expected to grow further in FY2027.
- EV segment will expand rapidly
- 125cc–200cc category likely to grow fastest
- Premium bikes demand will increase
- Hero vs Honda competition will intensify
- More tech-loaded and connected bikes expected
Conclusion
March 2026 capped off FY26 with strong momentum for the Indian two-wheeler market. Hero MotoCorp continues to lead, but Honda is closing the gap. TVS is emerging as a growth leader, while Bajaj, Suzuki, Royal Enfield, and Yamaha remain strong in their respective segments.
With rising EV adoption and increasing demand for both commuter and premium motorcycles, the industry is heading towards an exciting and competitive future.
Disclaimer
The above sales figures are based on industry estimates, trends, and publicly available data. Actual company-reported numbers may vary.