Indian Two-Wheeler Dispatches Top 1.52 Crore Units in H1 FY27 as Domestic Sales and Exports Surge

India's two-wheeler industry achieved a significant milestone in the first half of fiscal year 2027 (April–September 2026), with combined domestic dispatches and overseas shipments crossing the 1.52 crore mark. Total factory dispatches reached 1,52,94,169 units, marking a 20.35% year-on-year increase compared to the corresponding period last fiscal year.

The volume expansion was supported by resilient domestic rural demand, consistent urban commuting needs, and a sharp revival in export markets across Africa, Latin America, and South Asia.

Domestic Dispatches Surpass 1.20 Crore Units

Domestic wholesale volumes grew 17.63% to 1,20,86,812 units during the April–September 2026 period, up from 1,02,75,298 units in H1 FY26.

Motorcycles continued to form the core of domestic volumes, recording 69,28,700 dispatches with a 10.44% year-on-year increase. However, the scooter segment witnessed an even faster clip of growth, crossing the 53 lakh mark domestically and expanding by 29.82%. Mopeds added 3,00,252 units to the tally.

Top Domestic Volume Drivers:

• Hero Splendor: Maintained its leadership position with 21,30,637 units, up 19.69% year-on-year, adding 3,50,556 units in absolute volume.
• Honda Activa: Retained second place with 14,82,917 units, rising 15.12% year-on-year. Together, the Splendor and Activa families accounted for nearly 30% of total domestic dispatches.
• Honda Shine / SP125: Clocked 9,65,571 units, marking an 11.09% expansion.
• TVS Jupiter: Dispatched 8,29,725 units, growing 15.63%.
• Bajaj Pulsar: Finished in the top five at 6,33,015 units, despite a domestic contraction of 6.86%.
• Hero HF Deluxe: Logged 4,42,827 units, declining 16.38%.
• Suzuki Access: Grew 10.04% to 4,33,180 units.
• TVS Apache: Rose 22.90% to 3,34,347 units.
• Other Notable Performers: TVS XL100 moped logged 2,92,920 units, while the electric scooter TVS iQube reached 2,74,304 units.

Export Markets Rebound With 31.86% Jump

Outbound shipments recorded a steep acceleration during the half-year window, reflecting easing foreign exchange constraints and normalizing inventories in key destination markets. Total two-wheeler exports stood at 32,07,357 units, a 31.86% jump over the 24,32,412 units exported in H1 FY26.

Motorcycles constituted 86.20% of total export volumes, climbing 31.83% to 27,64,662 units. Scooter shipments rose 34.95% to 4,35,363 units, contributing 13.57% of total overseas sales. In contrast, moped shipments dropped 42.03% to 7,332 units.

Export Highlights by Model:

• Bajaj Pulsar: Countered its domestic drop with overseas shipments of 3,01,449 units, up 17.26%.
• Bajaj CT Series: Shipped 2,15,040 units, surging 31.89%.
• Honda Dio & Navi: Recorded 1,23,104 units (up 58.07%) and 1,04,032 units (up 7.03%) respectively, together driving more than half of all scooter shipments from India.
• Yamaha FZ & TVS Apache: Shipped 90,145 units and 86,265 units respectively.
• Emerging Scooter Shipments: Suzuki Access exports advanced 119.72% to 14,807 units, TVS Jupiter climbed to 14,110 units from 2,164 units a year earlier, and TVS iQube electric scooter shipments reached 7,762 units.

Key Market Takeaways

The volume trends highlight contrasting consumption patterns across domestic and international channels. While entry-level and executive commuter motorcycles like Hero Splendor continue to command bulk domestic dispatches, scooters are supplying an increasingly large share of incremental growth in Indian cities. In overseas markets, utility commuter motorcycles like the Bajaj Boxer, Bajaj CT, and TVS Star City continue to anchor Indian manufacturing exports.

For equity investors monitoring the automotive space, the strong volume base across both domestic showrooms and ports provides operating leverage for primary original equipment manufacturers (OEMs), supporting blended margins as festival dispatches peak.