Two-Wheeler Sales FY 2024-25: Hero MotoCorp Leads, 1,95,92,209 Units, Up 7.7% YoY
Every two-wheeler registered in India over FY 2024-25 — April 2024 to March 2025. India's financial year runs April to March, the window every listed automaker reports on. Month-by-month volumes, the manufacturer leaderboard, how the segment moved against the rest of the market, and the same window in every earlier year on record.
Two-Wheeler sales month by month, FY 2024-25
India's two-wheeler market registered 1,95,92,209 two-wheelers in FY 2024-25. Volumes rose 7.7% against the 1,81,94,052 logged over the same 12 months of FY 2023-24.
November was the strongest month of the period at 27,14,229 two-wheelers and December the quietest at 12,57,630, an average of 16,32,684 a month. 8 of those 12 months grew on the same month a year earlier.
FY 2024-25 ran from April 2024 to March 2025 and is closed. Every month in the table below is final, and every comparison on this page is against the matching month of FY 2023-24.
Two-wheelers accounted for 71.9% of everything registered in India over the period, up from 71.0% in FY 2023-24. The whole market ran to 2,72,53,707 vehicles over the same window, up 6.4% year on year.
Two-Wheeler registrations by month — FY 2024-25 vs FY 2023-24
Vahan retail registrations, each month set against the same month a year earlier.
Every completed month of FY 2024-25, with the matching month of FY 2023-24 beside it.
| Month | FY 2024-25 units | FY 2023-24 units | YoY | Share of period |
|---|---|---|---|---|
| April 2024 | 17,01,319 | 12,80,528 | +32.9% | 8.7% |
| May 2024 | 15,98,559 | 15,46,798 | +3.3% | 8.2% |
| June 2024 | 14,36,696 | 13,63,426 | +5.4% | 7.3% |
| July 2024 | 15,14,798 | 12,80,737 | +18.3% | 7.7% |
| August 2024 | 13,97,347 | 13,16,120 | +6.2% | 7.1% |
| September 2024 | 12,62,295 | 13,67,611 | −7.7% | 6.4% |
| October 2024 | 21,36,090 | 15,64,107 | +36.6% | 10.9% |
| November 2024 | 27,14,229 | 23,25,082 | +16.7% | 13.9% |
| December 2024 | 12,57,630 | 15,20,109 | −17.3% | 6.4% |
| January 2025 | 15,91,515 | 15,26,332 | +4.3% | 8.1% |
| February 2025 | 14,10,726 | 15,07,411 | −6.4% | 7.2% |
| March 2025 | 15,71,005 | 15,95,791 | −1.6% | 8.0% |
Each month links through to its own full report.
Which manufacturer sold the most, FY 2024-25
Hero MotoCorp led the period with 55,45,264 registrations, up 1.0% on FY 2023-24. Honda 2W (HMSI) follows on 50,40,997, 5,04,267 behind — a gap of 1.10x.
The fastest riser in the top 15 was Revolt Motors, up 55.1% to 11,812, while Piaggio was down 6.8% at 35,769.
Volumes here are registrations inside the segment only, counted with Vahan's own vehicle-class filter, so each is the manufacturer's two-wheeler volume over FY 2024-25. Companies that file electric models under a maker of their own appear as separate rows.
Top manufacturers by registrations — FY 2024-25
Registrations inside the segment (two-wheelers only).
Exact registrations over April 2024 to March 2025, with the change against FY 2023-24.
| # | Manufacturer | FY 2024-25 units | Share of two-wheelers | vs FY 2023-24 |
|---|---|---|---|---|
| 1 | Hero MotoCorp | 55,45,264 | 28.30% | +1.0% |
| 2 | Honda 2W (HMSI) | 50,40,997 | 25.73% | +16.4% |
| 3 | TVS Motor | 34,11,980 | 17.41% | +11.3% |
| 4 | Bajaj Auto | 22,55,680 | 11.51% | +2.1% |
| 5 | Suzuki 2W | 10,33,308 | 5.27% | +16.3% |
| 6 | Royal Enfield | 8,80,753 | 4.50% | +7.7% |
| 7 | Yamaha India | 6,70,395 | 3.42% | +6.9% |
| 8 | Ola Electric | 3,60,197 | 1.84% | +4.5% |
| 9 | Ather Energy | 1,41,697 | 0.72% | +20.7% |
| 10 | Greaves Electric | 41,262 | 0.21% | +29.5% |
| 11 | Piaggio | 35,769 | 0.18% | −6.8% |
| 12 | Classic Legends | 35,065 | 0.18% | +3.7% |
| 13 | BGauss | 19,362 | 0.10% | +21.2% |
| 14 | Revolt Motors | 11,812 | 0.06% | +55.1% |
| 15 | Wardwizard Innovations & Mobility | 9,455 | 0.05% | +3.5% |
Two-Wheeler sales against the rest of the market
Set against the rest of the market, two-wheelers outgrew the national picture over FY 2024-25: +7.7% against +6.4% for every vehicle registered in India.
The table covers every segment Vahan reports over the same 12-month window, so the comparison is like for like — the same months, the same source, on both sides.
Two-Wheeler share of the Indian market, month by month
Two-wheelers as a percentage of every vehicle registered that month.
Exact segment volumes over April 2024 to March 2025.
| Segment | FY 2024-25 units | Share | vs FY 2023-24 |
|---|---|---|---|
| Two-Wheelers | 1,95,92,209 | 71.89% | +7.7% |
| Cars & UVs | 39,71,397 | 14.57% | +4.0% |
| Three-Wheelers | 12,63,431 | 4.64% | +4.6% |
| Tractors | 8,98,913 | 3.30% | −1.4% |
| Goods Carriers | 8,64,839 | 3.17% | −2.2% |
| Taxis & Cabs | 3,31,931 | 1.22% | +14.1% |
| Other classes | 2,14,111 | 0.79% | −2.5% |
| Buses | 1,16,876 | 0.43% | +20.3% |
What two-wheelers run on
Vahan splits a segment by fuel only across a whole calendar year, so this table covers full-year 2025 rather than FY 2024-25 alone — it is exact for that window.
Petrol accounts for 93.4% of two-wheeler registrations over full-year 2025, with battery-electric at 6.4%.
Two-Wheeler registrations by fuel — full-year 2025
The full-year 2025 mix.
| Fuel | 2025 units | Share | vs full-year 2024 |
|---|---|---|---|
| Petrol | 1,96,34,235 | 93.41% | −0.21pp |
| Electric | 13,42,287 | 6.39% | +0.20pp |
| CNG / LPG | 43,104 | 0.21% | +0.01pp |
| Diesel | 3 | 0.00% | 0.00pp |
| Other | 1 | 0.00% | 0.00pp |
Two-Wheeler sales by financial year
Across the 2 completed windows in our Vahan record, two-wheeler registrations went from 1,95,92,209 in FY 2024-25 to 2,21,64,885 in FY 2025-26, up 13.1% over the stretch.
FY 2026-27 is still running — 6 of its 12 months are counted — so it is a part window and is never set against a full one. Its year-on-year figure compares only the months it actually holds.
Two-Wheeler registrations by financial year
* window still in progress.
| Period | Months | Units | YoY |
|---|---|---|---|
| FY 2026-27 (to date) | 6 | 1,10,53,543 | +20.5% |
| FY 2025-26 | 12 | 2,21,64,885 | +13.1% |
| FY 2024-25 | 12 | 1,95,92,209 | +7.7% |
Each row compares only the months that window holds, so a part period is never set against a full one.
Frequently asked questions
How many two-wheelers were sold in India in FY 2024-25?
What period does FY 2024-25 cover?
Which manufacturer sold the most two-wheelers in FY 2024-25?
Which was the strongest month for two-wheeler sales in FY 2024-25?
What share of the Indian market were two-wheelers in FY 2024-25?
Which financial year had the highest two-wheeler sales?
Are these retail sales or factory dispatches?
Two-Wheeler sales, other periods
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.
