Two-Wheeler Sales H1 FY 2025-26: Hero MotoCorp Leads, 91,69,811 Units, Up 2.9% YoY
Every two-wheeler registered in India over H1 FY 2025-26 — April 2025 to September 2025. The first half of the financial year, April to September. 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, H1 FY 2025-26
India's two-wheeler market registered 91,69,811 two-wheelers in H1 FY 2025-26. Volumes ticked higher 2.9% against the 89,11,014 logged over the same 6 months of H1 FY 2024-25.
April was the strongest month of the period at 17,50,314 two-wheelers and September the quietest at 13,45,153, an average of 15,28,302 a month. 5 of those 6 months grew on the same month a year earlier.
April opens the new fiscal year, usually with price revisions and a reset in dealer inventory.
H1 FY 2025-26 ran from April 2025 to September 2025 and is closed. Every month in the table below is final, and every comparison on this page is against the matching month of H1 FY 2024-25.
Two-wheelers accounted for 71.2% of everything registered in India over the period, down from 71.6% in H1 FY 2024-25. The whole market ran to 1,28,79,778 vehicles over the same window, up 3.5% year on year.
Two-Wheeler registrations by month — H1 FY 2025-26 vs H1 FY 2024-25
Vahan retail registrations, each month set against the same month a year earlier.
Every completed month of H1 FY 2025-26, with the matching month of H1 FY 2024-25 beside it.
| Month | H1 FY 2025-26 units | H1 FY 2024-25 units | YoY | Share of period |
|---|---|---|---|---|
| April 2025 | 17,50,314 | 17,01,319 | +2.9% | 19.1% |
| May 2025 | 17,15,598 | 15,98,559 | +7.3% | 18.7% |
| June 2025 | 15,08,419 | 14,36,696 | +5.0% | 16.4% |
| July 2025 | 14,17,782 | 15,14,798 | −6.4% | 15.5% |
| August 2025 | 14,32,545 | 13,97,347 | +2.5% | 15.6% |
| September 2025 | 13,45,153 | 12,62,295 | +6.6% | 14.7% |
Each month links through to its own full report.
Which manufacturer sold the most, H1 FY 2025-26
Hero MotoCorp led the period with 24,56,438 registrations, broadly flat (+0.9%) on H1 FY 2024-25. Honda 2W (HMSI) follows on 22,92,427, 1,64,011 behind — a gap of 1.07x.
The fastest riser in the top 15 was River Mobility, up 431.7% to 8,847, while Ola Electric was down 47.7% at 1,11,651.
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 H1 FY 2025-26. Companies that file electric models under a maker of their own appear as separate rows.
Top manufacturers by registrations — H1 FY 2025-26
Registrations inside the segment (two-wheelers only).
Exact registrations over April 2025 to September 2025, with the change against H1 FY 2024-25.
| # | Manufacturer | H1 FY 2025-26 units | Share of two-wheelers | vs H1 FY 2024-25 |
|---|---|---|---|---|
| 1 | Hero MotoCorp | 24,56,438 | 26.79% | +0.9% |
| 2 | Honda 2W (HMSI) | 22,92,427 | 25.00% | −1.2% |
| 3 | TVS Motor | 17,50,559 | 19.09% | +13.5% |
| 4 | Bajaj Auto | 9,78,689 | 10.67% | −4.7% |
| 5 | Suzuki 2W | 5,53,411 | 6.04% | +12.1% |
| 6 | Royal Enfield | 4,74,830 | 5.18% | +23.4% |
| 7 | Yamaha India | 3,13,576 | 3.42% | −4.5% |
| 8 | Ola Electric | 1,11,651 | 1.22% | −47.7% |
| 9 | Ather Energy | 1,01,385 | 1.11% | +85.1% |
| 10 | Greaves Electric | 25,903 | 0.28% | +59.1% |
| 11 | Piaggio | 16,215 | 0.18% | −12.1% |
| 12 | Classic Legends | 15,260 | 0.17% | +1.0% |
| 13 | BGauss | 10,401 | 0.11% | +31.6% |
| 14 | PURE EV (PuR) | 9,460 | 0.10% | +321.8% |
| 15 | River Mobility | 8,847 | 0.10% | +431.7% |
Two-Wheeler sales against the rest of the market
Set against the rest of the market, two-wheelers lagged the national picture over H1 FY 2025-26: +2.9% against +3.5% for every vehicle registered in India.
The table covers every segment Vahan reports over the same 6-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 2025 to September 2025.
| Segment | H1 FY 2025-26 units | Share | vs H1 FY 2024-25 |
|---|---|---|---|
| Two-Wheelers | 91,69,811 | 71.20% | +2.9% |
| Cars & UVs | 18,59,618 | 14.44% | +4.3% |
| Three-Wheelers | 6,49,834 | 5.05% | +5.3% |
| Tractors | 4,56,799 | 3.55% | +10.1% |
| Goods Carriers | 4,01,668 | 3.12% | −0.1% |
| Taxis & Cabs | 1,70,600 | 1.32% | +3.2% |
| Other classes | 98,045 | 0.76% | +9.4% |
| Buses | 73,403 | 0.57% | +13.1% |
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 H1 FY 2025-26 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 |
Every H1 on record
Across the 3 completed windows in our Vahan record, two-wheeler registrations went from 89,11,014 in H1 FY 2024-25 to 1,10,53,543 in H1 FY 2026-27, up 24.0% over the stretch.
Two-Wheeler registrations by half year
* window still in progress.
| Period | Months | Units | YoY |
|---|---|---|---|
| H1 FY 2026-27 | 6 | 1,10,53,543 | +20.5% |
| H1 FY 2025-26 | 6 | 91,69,811 | +2.9% |
| H1 FY 2024-25 | 6 | 89,11,014 | +9.3% |
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 H1 FY 2025-26?
What period does H1 FY 2025-26 cover?
Which manufacturer sold the most two-wheelers in H1 FY 2025-26?
Which was the strongest month for two-wheeler sales in H1 FY 2025-26?
What share of the Indian market were two-wheelers in H1 FY 2025-26?
Which half 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.
