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Two-Wheeler Retail Sales See Sharp Decline In October 2026 - Honda, Hero & TVS Lead
Two-wheeler retail sales for the month of October 2026 stood at 23,21,419 units, down 28.35 percent Year-over-Year from the 32,39,949 units sold in October 2025, according to FADA data. Month-on-month, registrations rose 29.67 percent from 17,90,188 units in September 2026.
Navratri fell in October this year, while Dhanteras and Diwali moved to November, which weighed on purchases during the month. FADA still classes October 2026 as the second-best October on record for two-wheeler sales in India. From April to October 2026, two-wheeler retail sales reached 1,33,79,362 units, up 7.81 percent from 1,24,09,794 units in the same period last year.
Two-Wheeler Retail Sales October 2026 by Brand
Honda topped the sales charts in October 2026 with 6,37,630 units sold, down 25.06 percent YoY from 8,50,875 units a year earlier. Its market share stood at 27.47 percent.
Hero MotoCorp sold 5,98,433 units, a 40.56 percent drop from 10,06,796 units in October 2025, for a 25.78 percent share. TVS Motor registered 4,58,303 units, down 19.93 percent from 5,72,347 units, and its share was 19.74 percent.
Honda, Hero and TVS together sold 16,94,366 units and held over 72 percent of the market. Against September 2026, Honda grew 36.02 percent and Hero 37.80 percent.
| Brand | Oct 2026 | Oct 2025 | YoY Diff | YoY Growth | Sep 2026 | MoM Diff | MoM Growth | Share Oct 2026 | Share Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Honda | 6,37,630 | 8,50,875 | -2,13,245 | -25.06% | 4,68,789 | 1,68,841 | 36.02% | 27.47% | 26.19% |
| Hero MotoCorp | 5,98,433 | 10,06,796 | -4,08,363 | -40.56% | 4,34,280 | 1,64,153 | 37.80% | 25.78% | 24.26% |
| TVS Motor | 4,58,303 | 5,72,347 | -1,14,044 | -19.93% | 3,64,640 | 93,663 | 25.69% | 19.74% | 20.37% |
| Bajaj Auto | 2,09,634 | 3,35,229 | -1,25,595 | -37.47% | 1,66,112 | 43,522 | 26.20% | 9.03% | 9.28% |
| Royal Enfield | 1,23,982 | 1,54,563 | -30,581 | -19.79% | 1,02,226 | 21,756 | 21.28% | 5.34% | 5.71% |
| Suzuki | 1,20,931 | 1,42,132 | -21,201 | -14.92% | 1,01,926 | 19,005 | 18.65% | 5.21% | 5.69% |
| Yamaha | 79,001 | 94,769 | -15,768 | -16.64% | 64,292 | 14,709 | 22.88% | 3.40% | 3.59% |
| Ather | 31,833 | 30,246 | 1,587 | 5.25% | 30,533 | 1,300 | 4.26% | 1.37% | 1.71% |
| Ola | 12,098 | 16,439 | -4,341 | -26.41% | 13,451 | -1,353 | -10.06% | 0.52% | 0.75% |
| Greaves / Ampere | 10,839 | 7,743 | 3,096 | 39.98% | 9,316 | 1,523 | 16.35% | 0.47% | 0.52% |
| River | 6,817 | 1,823 | 4,994 | 273.94% | 5,556 | 1,261 | 22.70% | 0.29% | 0.31% |
| Jawa / Yezdi / BSA | 5,943 | 7,500 | -1,557 | -20.76% | 4,573 | 1,370 | 29.96% | 0.26% | 0.26% |
| BGauss | 5,556 | 3,077 | 2,479 | 80.57% | 5,023 | 533 | 10.61% | 0.24% | 0.28% |
| Aprilia / Vespa | 4,021 | 3,916 | 105 | 2.68% | 3,778 | 243 | 6.43% | 0.17% | 0.21% |
| Others | 16,398 | 12,494 | 3,904 | 31.25% | 15,693 | 705 | 4.49% | 0.71% | 0.88% |
| Total | 23,21,419 | 32,39,949 | -9,18,530 | -28.35% | 17,90,188 | 5,31,231 | 29.67% | 100% | 100% |
Bajaj Auto sold 2,09,634 units, down 37.47 percent from 3,35,229 units, and held a 9.03 percent share. Royal Enfield registered 1,23,982 units, down 19.79 percent from 1,54,563 units, for a 5.34 percent share.
Suzuki recorded 1,20,931 units, a 14.92 percent fall from 1,42,132 units, with a 5.21 percent share. Yamaha sold 79,001 units against 94,769 units in October 2025, a 16.64 percent decline, and its share was 3.40 percent.
Fuel Mix and Electric Two-Wheelers
Petrol and ethanol-powered models accounted for 90.30 percent of two-wheeler retail sales in October 2026. Electric two-wheelers took 9.65 percent, and CNG and LPG models the remaining 0.05 percent.
Ather recorded 31,833 units, up 5.25 percent from 30,246 units, and its market share was 1.37 percent. Ola Electric fell 26.41 percent to 12,098 units from 16,439 units, and it was the only brand in the table to lose volume against September 2026, down 10.06 percent from 13,451 units.
Greaves Electric (Ampere) rose 39.98 percent to 10,839 units from 7,743 units. River sold 6,817 units against 1,823 units in October 2025, a 273.94 percent jump, while BGauss climbed 80.57 percent to 5,556 units from 3,077 units.
Classic Legends (Jawa, Yezdi and BSA) declined 20.76 percent to 5,943 units from 7,500 units. Piaggio (Aprilia and Vespa) improved 2.68 percent to 4,021 units from 3,916 units. Other OEMs, including electric two-wheeler makers, added 16,398 units, up 31.25 percent from 12,494 units in October 2025.
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