Vehicle Sales September 2026: Honda 2W (HMSI) Leads, 25,67,916 Units Registered
Full Vahan registration report for September 2026 — every major manufacturer ranked, with month-on-month and year-on-year change, segment share, fuel mix and the state-wise picture.
How September went
The Indian vehicle market registered 25,67,916 vehicles in September 2026. Volumes climbed sharply 33.0% against September 2025, and rose 4.2% on August. It was the strongest September in that record.
That is 14 consecutive months of year-on-year growth for the segment. Year to date, 2,37,71,564 units have been registered across 9 months, +21.8% on the same stretch of 2025 (1,95,22,217).
September is the quiet month before the festive peak — buyers routinely defer registrations into the auspicious October window.
Monthly vehicle 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
Honda 2W (HMSI) led the segment with 4,70,803 registrations, ahead of Hero MotoCorp on 4,35,681 — a gap of 35,122 units, wider than the 33,707 it held in August.
TVS Motor grew fastest among the segment's biggest names at +43.1% year on year (3,74,222 units).
On share rather than volume — the number that decides who is actually winning — TVS Motor has added 0.66pp of the segment in 2026 so far, while Hero MotoCorp has given up 1.92pp.
Top 10 manufacturers, September 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 | Sep 2026 | MoM | YoY | Share |
|---|---|---|---|---|---|
| 1 | Honda 2W (HMSI) | 4,70,803 | +4.6% | +38.6% | 18.33% |
| 2 | Hero MotoCorp | 4,35,681 | +4.6% | +31.7% | 16.97% |
| 3 | TVS Motor | 3,74,222 | +2.9% | +43.1% | 14.57% |
| 4 | Bajaj Auto | 2,15,408 | +5.5% | +14.8% | 8.39% |
| 5 | Maruti Suzuki | 1,76,426 | +1.5% | +32.2% | 6.87% |
| 6 | Royal Enfield | 1,04,201 | +7.3% | +24.8% | 4.06% |
| 7 | Suzuki 2W | 1,02,553 | −2.5% | +24.4% | 3.99% |
| 8 | Mahindra | 78,578 | +12.1% | +31.9% | 3.06% |
| 9 | Yamaha India | 64,630 | +2.9% | +30.3% | 2.52% |
| 10 | Hyundai | 51,113 | +6.1% | +33.8% | 1.99% |
| 11 | Tata Motors (PV) | 41,868 | −5.5% | +14.7% | 1.63% |
| 12 | Tata Motors | 37,581 | +16.0% | +49.4% | 1.46% |
| 13 | Ather Energy | 30,822 | +5.8% | +57.1% | 1.20% |
| 14 | Toyota Kirloskar | 29,345 | +9.9% | +26.2% | 1.14% |
| 15 | Kia India | 27,468 | +12.7% | +50.3% | 1.07% |
Share is of every vehicle registered in India that month.
Market share, year to date
Share here is of every vehicle registered in India, across all segments — which is why two-wheeler makers fill the top of the table. 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 | 45,95,789 | 18.32% | −1.92pp |
| 2 | Honda 2W (HMSI) | 44,91,629 | 17.90% | −0.12pp |
| 3 | TVS Motor | 35,75,107 | 14.25% | +0.66pp |
| 4 | Bajaj Auto | 22,41,014 | 8.93% | −0.47pp |
| 5 | Maruti Suzuki | 17,09,567 | 6.81% | +0.34pp |
| 6 | Suzuki 2W | 9,75,991 | 3.89% | −0.06pp |
| 7 | Royal Enfield | 9,55,136 | 3.81% | +0.13pp |
| 8 | Mahindra | 7,53,433 | 3.00% | +0.01pp |
| 9 | Yamaha India | 6,23,650 | 2.49% | +0.11pp |
| 10 | Hyundai | 4,85,600 | 1.94% | −0.05pp |
| 11 | Tata Motors (PV) | 4,63,310 | 1.85% | +0.10pp |
| 12 | Tata Motors | 3,50,493 | 1.40% | +0.16pp |
| 13 | Toyota Kirloskar | 2,86,600 | 1.14% | −0.01pp |
| 14 | Ather Energy | 2,76,002 | 1.10% | +0.36pp |
| 15 | Kia India | 2,58,111 | 1.03% | +0.10pp |
Fuel mix
Petrol accounts for 71.3% of the segment's registrations in 2026 so far. Electric is at 10.74%, a move of +2.70pp on 2025 on volume of 26,95,201 units.
Vehicle 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 | 1,78,98,750 | 71.34% | −3.61pp |
| Electric | 26,95,201 | 10.74% | +2.70pp |
| Diesel | 26,61,986 | 10.61% | +0.41pp |
| CNG / LPG | 14,11,365 | 5.63% | +0.35pp |
| Hybrid | 3,57,086 | 1.42% | +0.16pp |
| Other | 65,905 | 0.26% | −0.01pp |
Share is of this report's own scope over 2026 year to date, compared with the whole of 2025.
Where the demand is
Maharashtra was the largest market in September 2026 with 3,02,528 registrations, 11.8% of the segment's national total. Uttar Pradesh (2,79,987) and Tamil Nadu (2,25,197) followed. Among the big markets Bihar grew fastest at +92.3%.
Registrations in the month, by state.
| # | State | Units | Share | YoY |
|---|---|---|---|---|
| 1 | Maharashtra | 3,02,528 | 11.8% | +43.3% |
| 2 | Uttar Pradesh | 2,79,987 | 10.9% | +31.4% |
| 3 | Tamil Nadu | 2,25,197 | 8.8% | +46.2% |
| 4 | Gujarat | 1,95,401 | 7.6% | +12.3% |
| 5 | Karnataka | 1,84,003 | 7.2% | +31.9% |
| 6 | Rajasthan | 1,38,907 | 5.4% | +29.4% |
| 7 | Madhya Pradesh | 1,25,636 | 4.9% | +19.3% |
| 8 | Kerala | 1,17,763 | 4.6% | +57.1% |
| 9 | West Bengal | 1,14,254 | 4.4% | +26.9% |
| 10 | Bihar | 1,09,991 | 4.3% | +92.3% |
| 11 | Haryana | 1,00,852 | 3.9% | +40.8% |
| 12 | Telangana | 96,087 | 3.7% | +25.8% |
Frequently asked questions
How many vehicles were sold in India in September 2026?
Which company sold the most vehicles in September 2026?
What is the vehicle market share in India in 2026?
What share of vehicles sold in India are electric?
Which state registers the most vehicles in India?
Are these wholesale dispatches or retail sales?
Vehicle 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.
