Indian auto market · 2W retail report
India Two-Wheeler Retail Sales May 2026
Hero MotoCorp is still the biggest two-wheeler brand in India by a wide margin — and it still lost ground. Honda and TVS grew four to five times faster, Ather doubled, and Ola Electric became the only name on the list to sell fewer bikes than a year ago.
Two-wheelers retailed by the OEMs listed
The month in numbers
May 2026 at a glance
The market grew 7.5%, but the growth was unevenly shared. Honda added 38,823 units and TVS 36,834 — between them nearly 60% of the month's entire gain — while the market leader added just 10,628.
Who sold how many
Top 10 two-wheeler OEMs by volume
Hero, Honda and TVS occupy a different tier entirely — together they take 71.91% of the market. Below Yamaha, the entire remaining field is electric-first brands and niche players, none of them past 30,000 units.
- 01Hero MotoCorp5,17,951
- 02Honda Motorcycle & Scooter4,52,420
- 03TVS Motor Company3,56,352
- 04Bajaj Auto Group1,97,738
- 05Suzuki Motorcycle India97,885
- 06Royal Enfield84,480
- 07India Yamaha Motor60,625
- 08Ather Energy28,240
- 09Ola Electric15,141
- 10Greaves Electric Mobility7,695
Year on year
May 2026 vs May 2025
Anything growing slower than 7.5% lost share this month — which includes the market leader. Hero's 2.1% and Bajaj's 2.0% were the weakest performances among the large OEMs; Yamaha's 16.5% was the strongest.
- Hero MotoCorp+2.1%20255,07,32320265,17,951
- Honda Motorcycle & Scooter+9.4%20254,13,59720264,52,420
- TVS Motor Company+11.5%20253,19,51820263,56,352
- Bajaj Auto Group+2.0%20251,93,94420261,97,738
- Suzuki Motorcycle India+5.1%202593,114202697,885
- Royal Enfield+3.4%202581,672202684,480
- India Yamaha Motor+16.5%202552,041202660,625
- Ather Energy+100.3%202514,101202628,240
The electric shake-up
Ather doubled, Ola went backwards
Five electric-only manufacturers appear on this list. Together they retailed 58,093 units — up 46.9% year on year and 3.15% of the whole market. But the growth is not evenly spread: one of the five went backwards while the other four ran.
Electric-only OEMs, May 2026
- Ather Energy14,101 → 28,240 · 1.53% share+100.3%
- Ola Electric18,967 → 15,141 · 0.82% share−20.2%
- Greaves Electric Mobility4,325 → 7,695 · 0.42% share+77.9%
- River Mobility1,078 → 3,720 · 0.20% share+245.1%
- BGauss Auto1,082 → 3,297 · 0.18% share+204.7%
The reversal, in one line
- May 2025Ola ahead of Ather by 4,866 units18,967
14,101 - May 2026Ather ahead of Ola by 13,099 units28,240
15,141 - Combined five39,553 → 58,093 units+46.9%
Movers of the month
Fastest growth, biggest share losses
Only one OEM on the list sold fewer two-wheelers than a year ago. But five of the fourteen lost market share, because in a market growing 7.5%, growing slowly is the same as going backwards.
Fastest growth (volume)
- River Mobility1,078 → 3,720+245.1%
- BGauss Auto1,082 → 3,297+204.7%
- Classic Legends2,190 → 4,447+103.1%
- Ather Energy14,101 → 28,240+100.3%
- Greaves Electric Mobility4,325 → 7,695+77.9%
- Piaggio Vehicles2,564 → 3,056+19.2%
Biggest share losses (points)
- Hero MotoCorp29.57% → 28.07%−1.50
- Bajaj Auto Group11.30% → 10.72%−0.58
- Ola Electric1.11% → 0.82%−0.29
- Royal Enfield4.76% → 4.58%−0.18
- Suzuki Motorcycle India5.43% → 5.31%−0.12
The full picture
OEM-wise two-wheeler retail sales table
May 2026 versus May 2025 for the fourteen two-wheeler OEMs listed, with market share, year-on-year change and sub-entity rows shown in italics beneath their parent group.
| Two-wheeler OEM | May 2026 | Share | May 2025 | Share | YoY |
|---|---|---|---|---|---|
| Hero MotoCorp | 5,17,951 | 28.07% | 5,07,323 | 29.57% | +2.1% |
| Honda Motorcycle & Scooter India | 4,52,420 | 24.52% | 4,13,597 | 24.11% | +9.4% |
| TVS Motor Company | 3,56,352 | 19.32% | 3,19,518 | 18.62% | +11.5% |
| Bajaj Auto Group | 1,97,738 | 10.72% | 1,93,944 | 11.30% | +2.0% |
| Bajaj Auto Ltd | 1,97,738 | 10.72% | 1,93,944 | 11.30% | +2.0% |
| Chetak Technology Ltd | — | 0.00% | — | 0.00% | — |
| Suzuki Motorcycle India | 97,885 | 5.31% | 93,114 | 5.43% | +5.1% |
| Royal Enfield (Eicher Motors) | 84,480 | 4.58% | 81,672 | 4.76% | +3.4% |
| India Yamaha Motor | 60,625 | 3.29% | 52,041 | 3.03% | +16.5% |
| Ather Energy | 28,240 | 1.53% | 14,101 | 0.82% | +100.3% |
| Ola Electric Technologies | 15,141 | 0.82% | 18,967 | 1.11% | −20.2% |
| Greaves Electric Mobility | 7,695 | 0.42% | 4,325 | 0.25% | +77.9% |
| Classic Legends | 4,447 | 0.24% | 2,190 | 0.13% | +103.1% |
| River Mobility | 3,720 | 0.20% | 1,078 | 0.06% | +245.1% |
| BGauss Auto | 3,297 | 0.18% | 1,082 | 0.06% | +204.7% |
| Piaggio Vehicles | 3,056 | 0.17% | 2,564 | 0.15% | +19.2% |
| Fourteen OEMs shown | 18,33,047 | 99.37% | 17,05,516 | 99.40% | +7.5% |
Swipe the table sideways to see all columns. Sub-entity rows are already counted inside their parent group total.
Key takeaways
What May 2026 tells us about two-wheelers
Hero grew and still lost
Volume up 2.1%, share down from 29.57% to 28.07%. In a market growing 7.5%, the leader added just 10,628 units while Honda added 38,823. Growth alone is no longer enough to hold position.
Honda and TVS are doing the chasing
Together they added 75,657 units — close to 60% of the market's entire gain. Honda has cut Hero's lead from 5.46 share points a year ago to 3.55 today.
Ather and Ola swapped places
A year ago Ola led Ather by 4,866 units. Today Ather is ahead by 13,099. Ather doubled while Ola became the only OEM on the list to shrink, down 20.2%.
The bottom of the table is where the action is
River Mobility, BGauss and Classic Legends all more than doubled. Individually tiny — 11,464 units combined — but they are growing at rates nobody in the top seven can match.
Frequently asked
India two-wheeler sales May 2026: quick answers
Which company sold the most two-wheelers in India in May 2026?
Hero MotoCorp led with 5,17,951 retails and a 28.07% market share, ahead of Honda Motorcycle and Scooter India at 4,52,420 units and TVS Motor Company at 3,56,352.
How much did India's two-wheeler retails grow in May 2026?
The fourteen OEMs listed retailed 18,33,047 units against 17,05,516 a year earlier — growth of 7.5%. These fourteen account for 99.37% of the market.
Did Hero MotoCorp lose market share?
Yes. Hero's share fell from 29.57% to 28.07%, down 1.50 percentage points, even though its volume rose 2.1%. It grew slower than the market, so it lost ground — the largest share loss of any OEM this month.
Who sold more in May 2026, Ather or Ola Electric?
Ather Energy sold 28,240 units against Ola Electric's 15,141 — close to twice as many. Ather grew 100.3% while Ola fell 20.2%. A year earlier the positions were reversed, with Ola ahead by 4,866 units.
Which two-wheeler brand grew fastest in May 2026?
River Mobility grew fastest at 245.1%, followed by BGauss Auto at 204.7% and Classic Legends at 103.1%. Among the large OEMs, India Yamaha Motor grew fastest at 16.5%.
How many electric two-wheelers were sold in India in May 2026?
The five electric-only OEMs listed — Ather, Ola Electric, Greaves Electric Mobility, River Mobility and BGauss — retailed 58,093 units combined, up 46.9%. Electric models sold by Bajaj, TVS and Hero sit inside their parent company totals in this dataset, so this is not the complete electric two-wheeler figure.
Why does Chetak Technology Limited show nil?
Chetak Technology Limited is listed with no registrations in either month in this dataset, and the Bajaj Auto Group total is identical to the Bajaj Auto Ltd figure — so no volume is attributed to that entity here.
Methodology
All figures are two-wheeler retail registration volumes for May 2026 and May 2025, reported at OEM level with sub-entity rows shown separately in italics. Sub-entity volumes are already included in their parent group total and must not be added again. Market share percentages are as reported in the source data; the fourteen OEMs listed here account for 99.37% of May 2026 registrations, so the remaining 0.63% of the market is not detailed on this page. Retail data reflects registrations at RTOs, not factory dispatches. Year-on-year percentages are calculated from the underlying unit volumes, and share-point changes are the difference between the two reported share columns.