Two-Wheeler Sales February 2026: Hero MotoCorp Leads, 17,69,126 Units Registered
Full Vahan registration report for February 2026 — every major manufacturer ranked, with month-on-month and year-on-year change, segment share, fuel mix and the state-wise picture.
How February went
India's two-wheeler market registered 17,69,126 vehicles in February 2026. Volumes climbed sharply 25.4% against February 2025, and fell back 8.0% on January. It was the strongest February in that record.
That is 3 consecutive months of year-on-year growth for the segment. Year to date, 36,91,929 units have been registered across 2 months, +23.0% on the same stretch of 2025 (30,02,241). The segment accounted for 70.0% of every vehicle registered in India that month.
February is the shortest month on the calendar, which flatters its daily run-rate and flatters nothing else.
Monthly two-wheeler registrations, 2023–2026
One line per calendar year — the shape of the year, not just its total. The dashed end of the current year is the month so far.
Manufacturer scoreboard
Hero MotoCorp led the segment with 4,66,358 registrations, ahead of Honda 2W (HMSI) on 4,50,867 — a gap of 15,491 units, wider than the 6,613 it held in January.
Ather Energy grew fastest among the segment's biggest names at +69.6% year on year (21,914 units).
On share rather than volume — the number that decides who is actually winning — TVS Motor has added 1.17pp of the segment in 2026 so far, while Hero MotoCorp has given up 2.25pp.
Top 10 manufacturers, February 2026
Registrations in the month
Ranked by registrations in the month, with month-on-month and year-on-year change. Click a name for its full dashboard.
| # | Manufacturer | Feb 2026 | MoM | YoY | Share of two-wheelers |
|---|---|---|---|---|---|
| 1 | Hero MotoCorp | 4,66,358 | −6.9% | +18.4% | 26.36% |
| 2 | Honda 2W (HMSI) | 4,50,867 | −8.8% | +30.0% | 25.49% |
| 3 | TVS Motor | 3,46,386 | −8.1% | +31.6% | 19.58% |
| 4 | Bajaj Auto | 1,89,340 | −7.5% | +17.0% | 10.70% |
| 5 | Suzuki 2W | 99,707 | −4.9% | +23.1% | 5.64% |
| 6 | Royal Enfield | 97,393 | −13.3% | +30.6% | 5.51% |
| 7 | Yamaha India | 62,638 | −5.4% | +31.2% | 3.54% |
| 8 | Ather Energy | 21,914 | −6.7% | +69.6% | 1.24% |
| 9 | Classic Legends | 4,767 | −10.7% | +88.8% | 0.27% |
| 10 | Greaves Electric | 4,761 | −12.2% | +24.9% | 0.27% |
| 11 | Ola Electric | 4,176 | −46.5% | −54.4% | 0.24% |
| 12 | Piaggio | 3,094 | −1.5% | +23.3% | 0.17% |
| 13 | BGauss | 2,723 | +7.2% | +104.9% | 0.15% |
| 14 | River Mobility | 2,559 | −10.4% | +286.0% | 0.14% |
| 15 | Kinetic Motor Company | 2,429 | +10940.9% | — | 0.14% |
Registrations inside the segment only, counted with Vahan's own vehicle-class filter, so each number is that manufacturer's two-wheeler volume. Companies that file electric models under a maker of their own (Tata, Mahindra) appear as separate rows.
Market share, year to date
Share is measured inside the segment itself — only two-wheeler volume counts on either side of the ratio. Volume is 2026 year to date. The comparison is against the whole of 2025.
Exact segment volume per manufacturer over 2026 year to date, and the change in share against full-year 2025.
| # | Manufacturer | 2026 units | Share | vs full-year 2025 |
|---|---|---|---|---|
| 1 | Hero MotoCorp | 45,63,272 | 25.92% | −2.25pp |
| 2 | Honda 2W (HMSI) | 44,62,379 | 25.35% | +0.23pp |
| 3 | TVS Motor | 34,83,195 | 19.79% | +1.17pp |
| 4 | Bajaj Auto | 17,99,528 | 10.22% | −0.52pp |
| 5 | Suzuki 2W | 9,70,590 | 5.51% | +0.01pp |
| 6 | Royal Enfield | 9,49,641 | 5.39% | +0.27pp |
| 7 | Yamaha India | 6,19,682 | 3.52% | +0.21pp |
| 8 | Ather Energy | 2,74,598 | 1.56% | +0.53pp |
| 9 | Ola Electric | 1,13,177 | 0.64% | −0.33pp |
| 10 | Greaves Electric | 75,681 | 0.43% | +0.16pp |
| 11 | Classic Legends | 44,872 | 0.25% | +0.06pp |
| 12 | River Mobility | 41,554 | 0.24% | +0.16pp |
| 13 | BGauss | 37,179 | 0.21% | +0.09pp |
| 14 | Piaggio | 32,281 | 0.18% | +0.02pp |
| 15 | E-Sprinto Green Energy | 12,497 | 0.07% | +0.03pp |
Fuel mix
Petrol accounts for 90.5% of the segment's registrations in 2026 so far. Electric is at 9.42%, a move of +3.04pp on 2025 on volume of 16,58,799 units.
Two-Wheeler fuel mix, 2026
Share of segment registrations year to date
The 2026 year to date mix.
| Fuel | 2026 units | Share | vs full-year 2025 |
|---|---|---|---|
| Petrol | 1,59,32,414 | 90.50% | −2.91pp |
| Electric | 16,58,799 | 9.42% | +3.04pp |
| CNG / LPG | 13,713 | 0.08% | −0.13pp |
| Other | 5 | 0.00% | 0.00pp |
| Diesel | 3 | 0.00% | 0.00pp |
Share is of this report's own scope over 2026 year to date, compared with the whole of 2025.
Where the demand is
Uttar Pradesh was the largest market in 2026 year to date with 23,39,553 registrations, 13.3% of the segment's national total. Maharashtra (19,49,451) and Tamil Nadu (16,61,539) followed. Tamil Nadu has gained the most ground, adding 1.71pp of the national total.
Segment registrations over 2026 year to date, by state.
| # | State | Units | Share | vs full-year 2025 |
|---|---|---|---|---|
| 1 | Uttar Pradesh | 23,39,553 | 13.3% | −1.20pp |
| 2 | Maharashtra | 19,49,451 | 11.1% | +0.16pp |
| 3 | Tamil Nadu | 16,61,539 | 9.4% | +1.71pp |
| 4 | Karnataka | 12,31,531 | 7.0% | +0.60pp |
| 5 | Gujarat | 11,96,705 | 6.8% | −0.02pp |
| 6 | Madhya Pradesh | 9,50,448 | 5.4% | −0.65pp |
| 7 | Bihar | 9,42,753 | 5.4% | −0.44pp |
| 8 | Rajasthan | 8,89,818 | 5.1% | −0.54pp |
| 9 | West Bengal | 8,63,662 | 4.9% | +0.04pp |
| 10 | Andhra Pradesh | 6,49,510 | 3.7% | +0.25pp |
| 11 | Odisha | 6,28,081 | 3.6% | +0.17pp |
| 12 | Telangana | 6,02,651 | 3.4% | +0.06pp |
Frequently asked questions
How many two-wheelers were sold in India in February 2026?
Which company sold the most two-wheelers in February 2026?
What is the two-wheeler market share in India in 2026?
What share of two-wheelers sold in India are electric?
Which state registers the most two-wheelers in India?
Are these wholesale dispatches or retail sales?
Two-Wheeler sales, earlier months
More from the reports desk
Source. Every figure is a vehicle registration, taken daily from the Ministry of Road Transport & Highways' Vahan 4 dashboard (vahan.parivahan.gov.in) — the same source FADA and the industry use for retail data. Registrations are not the wholesale dispatch numbers manufacturers announce each month. "EV" means battery electric (Vahan fuels PURE EV and ELECTRIC(BOV)); hybrids are counted separately. Information only, not investment advice.
Using these numbers? Cite "Flash Finance (Vahan data)" with a link to this page. This report's chart card is free to republish with the same credit.
