Two-Wheeler Sales Q3 FY 2026-27 (So Far): 22,31,325 Units, Down 31.1% YoY
Every two-wheeler registered in India over Q3 FY 2026-27 so far — October 2026. Q3 of the financial year, October to December. 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.
Live. Q3 FY 2026-27 is still in progress — this page grows as new registrations are published.
Two-Wheeler sales month by month, Q3 FY 2026-27
India's two-wheeler market registered 22,31,325 two-wheelers in Q3 FY 2026-27 so far. Volumes fell steeply 31.1% against the 32,39,937 logged over the same month of Q3 FY 2025-26.
October is the festive peak. Navratri and Diwali make it the single biggest registration month of most years, so year-on-year comparisons swing on where the festivals fall.
Q3 FY 2026-27 still has 2 months to run. Held at the pace of the 1 months already counted, it would finish near 66.94 L two-wheelers — a run rate rather than a forecast, and the festive quarter moves it more than anything else on this page.
Two-wheelers accounted for 73.6% of everything registered in India over the period, down from 77.7% in Q3 FY 2025-26. The whole market ran to 30,33,135 vehicles over the same window, down 27.3% year on year.
Two-Wheeler registrations by month — Q3 FY 2026-27 vs Q3 FY 2025-26
Vahan retail registrations, each month set against the same month a year earlier.
Every completed month of Q3 FY 2026-27, with the matching month of Q3 FY 2025-26 beside it.
| Month | Q3 FY 2026-27 units | Q3 FY 2025-26 units | YoY | Share of period |
|---|---|---|---|---|
| October 2026 | 22,31,325 | 32,39,937 | −31.1% | 100.0% |
Each month links through to its own full report.
Which manufacturer sold the most, Q3 FY 2026-27
Honda 2W (HMSI) led the period with 6,13,387 registrations, down 27.9% on Q3 FY 2025-26. Hero MotoCorp follows on 5,74,458, 38,929 behind — a gap of 1.07x.
The fastest riser in the top 8 was Ather Energy, up 0.4% to 30,380, while Hero MotoCorp was down 42.9% at 5,74,458.
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 Q3 FY 2026-27. Companies that file electric models under a maker of their own appear as separate rows.
Top manufacturers by registrations — Q3 FY 2026-27
Registrations inside the segment (two-wheelers only).
Exact registrations over October 2026, with the change against Q3 FY 2025-26.
| # | Manufacturer | Q3 FY 2026-27 units | Share of two-wheelers | vs Q3 FY 2025-26 |
|---|---|---|---|---|
| 1 | Honda 2W (HMSI) | 6,13,387 | 27.49% | −27.9% |
| 2 | Hero MotoCorp | 5,74,458 | 25.75% | −42.9% |
| 3 | TVS Motor | 4,42,448 | 19.83% | −22.7% |
| 4 | Bajaj Auto | 1,99,889 | 8.96% | −40.4% |
| 5 | Royal Enfield | 1,18,873 | 5.33% | −23.1% |
| 6 | Suzuki 2W | 1,16,200 | 5.21% | −18.2% |
| 7 | Yamaha India | 76,603 | 3.43% | −19.2% |
| 8 | Ather Energy | 30,380 | 1.36% | +0.4% |
| 9 | Ola Electric | 11,614 | 0.52% | −29.4% |
| 10 | Greaves Electric | 10,468 | 0.47% | +35.2% |
| 11 | River Mobility | 6,533 | 0.29% | +258.4% |
| 12 | Classic Legends | 5,678 | 0.25% | −24.3% |
| 13 | BGauss | 5,140 | 0.23% | +67.0% |
| 14 | Piaggio | 3,910 | 0.18% | −0.2% |
| 15 | E-Sprinto Green Energy | 2,124 | 0.10% | +109.3% |
Two-Wheeler sales against the rest of the market
Set against the rest of the market, two-wheelers lagged the national picture over Q3 FY 2026-27: −31.1% against −27.3% for every vehicle registered in India.
The table covers every segment Vahan reports over the same 1-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 October 2026.
| Segment | Q3 FY 2026-27 units | Share | vs Q3 FY 2025-26 |
|---|---|---|---|
| Two-Wheelers | 22,31,325 | 73.56% | −31.1% |
| Cars & UVs | 4,35,782 | 14.37% | −20.8% |
| Three-Wheelers | 1,31,836 | 4.35% | −2.9% |
| Goods Carriers | 98,225 | 3.24% | −4.8% |
| Tractors | 73,694 | 2.43% | −1.8% |
| Taxis & Cabs | 34,549 | 1.14% | −12.7% |
| Other classes | 18,287 | 0.60% | +1.0% |
| Buses | 9,437 | 0.31% | +6.3% |
What two-wheelers run on
Vahan splits a segment by fuel only across a whole calendar year, so this table covers 2026 year to date rather than Q3 FY 2026-27 alone — it is exact for that window.
Petrol accounts for 90.5% of two-wheeler registrations over 2026 year to date, with battery-electric at 9.4%.
Two-Wheeler registrations by fuel — 2026 year to date
The 2026 year to date mix.
| Fuel | 2026 units | Share | vs full-year 2025 |
|---|---|---|---|
| Petrol | 1,72,05,856 | 90.52% | −2.89pp |
| Electric | 17,86,903 | 9.40% | +3.02pp |
| CNG / LPG | 14,456 | 0.08% | −0.13pp |
| Other | 5 | 0.00% | 0.00pp |
| Diesel | 3 | 0.00% | 0.00pp |
Every Q3 on record
Across the 2 completed windows in our Vahan record, two-wheeler registrations went from 61,07,949 in Q3 FY 2024-25 to 72,76,573 in Q3 FY 2025-26, up 19.1% over the stretch.
Q3 FY 2026-27 is still running — 1 of its 3 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 quarter
* window still in progress.
| Period | Months | Units | YoY |
|---|---|---|---|
| Q3 FY 2026-27 (to date) | 1 | 22,31,325 | −31.1% |
| Q3 FY 2025-26 | 3 | 72,76,573 | +19.1% |
| Q3 FY 2024-25 | 3 | 61,07,949 | +12.9% |
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 Q3 FY 2026-27?
What period does Q3 FY 2026-27 cover?
Which manufacturer sold the most two-wheelers in Q3 FY 2026-27?
What share of the Indian market were two-wheelers in Q3 FY 2026-27?
What will full-year Q3 FY 2026-27 two-wheeler sales be?
Which quarter 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 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.
