The two-wheeler industry in India is expected to sustain a steady volume growth rate of around seven to nine percent in FY2024-25 as far as the domestic market as well as the export markets are concerned. 

The growth in FY2024-25 is expected to be driven by higher electric vehicle (EV) penetration in the market, according to a report released by CareEdge Ratings. A big catalyst in higher EV penetration in the market is going to be the Electric Mobility Promotion Scheme 2024 (though only till July 2024 and likely to get an extension), expectation of interest rate cuts in second half of FY2024-25, strong demand for new model launches, recovery in exports from its low base of FY2023-24 and favourable monsoon which would improve rural consumer sentiment and income levels. 

Pointing out at a combination of factors behind the growth of two-wheelers in such as traction in EV volumes, wider range of models and new launches, the report highlights a robust double-digit growth pace in each of the two quarters that ended on March 2024 on a year-on-year basis in FY2023-24, the report states the restriction in the automotive segment growth in the first half of FY2023-24 was on account of the increase in vehicle prices post the implementation of the phase-II of the BS VI emission norms, higher interest rates and stressed rural incomes. Sales revived in the second half of the respective fiscal on the back of festive season demand and uptick in rural sentiments.

“Post-covid, sales volume of two-wheelers had consistently declined during FY20, FY21 and FY22 before starting to recover from FY23, with sales momentum continuing in FY24 as well. CareEdge Ratings anticipates two-wheeler sales volume growth to continue in FY25 and it would be more driven by improved domestic sales, higher EV sales, launch of CNG powered two-wheelers and good traction in executive and premium segment motorcycles.” said Hardik Shah, Director, CareEdge Ratings.

In FY2022-23, the Indian two-wheeler industry recorded sales of 19.51 million units, an eight percent growth compared to the previous fiscal year’s 18.01 million units. In FY2023-24, the industry continued its upward trajectory, achieving 9.8 percent growth with a total sales volume of 21.43 million units. However, this was still short of the peak sales volume recorded in FY19 when annual sales volume had reached 24.46 million units, as per the report.

In FY2023-24, the domestic two-wheeler industry witnessed total sales volume of 17.97 million units, reflecting a growth rate of 13 percent. Exports volume experienced a decline of five percent even though it recovered from the low of FY2022-23. The decline in exports was attributed to challenges in the African markets, which traditionally accounted for a significant portion of India’s two-wheeler exports. 

EVs propel two-wheeler growth 

The overall volume growth in FY2022-23 and FY2023-24 was supported by the increasing demand for electric two-wheelers, according to the CareEdge Ratings report. In FY2022-23, electric two-wheeler sales reached approximately 0.73 million units, accounting for 4.54 percent of total two-wheeler sales (compared to 1.87 percent in the previous year), reflecting a remarkable year-on-year growth of 188 percent albeit on a low base. 

Continuing the positive trend, electric two-wheeler sales grew by around 30 percent in FY2023-24 surpassing volume of 0.94 million units. The demand for electric two-wheelers is driven by a shift in consumer preferences towards options that offer lower fuel costs, reduced maintenance, and lower servicing requirements compared to internal combustion engine (ICE) models. The government’s FAME II programme – till FY2023-24 – has made EV ownership more affordable, thereby contributing to volume growth.

The Indian Government’s newly introduced Electric Mobility Promotion Scheme 2024 (EMPS 2024) has continued to bolster electric two-wheeler sales in FY2024-25 – that is until July 2024. Despite the higher initial cost of electric two-wheelers, consumers are increasingly making the switch to EVs, the report pin points.

Segment wise, motorcycles have consistently dominated the market, contributing to majority of the two-wheeler sales. Sales volumes of motorcycles grew by eight percent in FY2023-24 and that of scooters grew by 13 percent during the respective period. This segment-wise growth trend is expected to continue in FY2024-25. 

With motorcycles continuing to be popular due to their superior fuel efficiency, cost-effectiveness, and versatility, scooters have also gained traction among urban commuters. 

Image for representative purpose only.

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Suzuki Motorcycle India (SMIPL), the two-wheeler subsidiary of Suzuki Motor Corporation, Japan, has opened its first dealership in Bathinda, Punjab, under the name Pluton Motors, which follows the recent opening of Pluton Wheels in Ludhiana.

With the addition of this location, SMIPL's retail network expands to 1,245 outlets across India. The Bathinda outlet functions as a 3S facility, consolidating sales, service and spare parts within a single location. The opening marks the company's 13th retail location in Punjab.

The facility displays Suzuki Motorcycle India’s complete two-wheeler lineup, including the Access, Avenis, and Burgman Street scooters, alongside the company's electric scooter, the e-Access. The performance motorcycle segment is represented by the Gixxer, Gixxer SF, Gixxer 250, Gixxer SF 250 and the V-Strom SX adventure motorcycle.

The dealership incorporates a service workshop with diagnostic tools for vehicle maintenance, and handles the distribution of official accessories, apparel and merchandise.

Kenichi Umeda, Managing Director, Suzuki Motorcycle India, said, “Pluton Suzuki in Bhatinda brings us closer to our customers, giving them easy access to our full range of scooters, motorcycles, and after-sales services. This dealership allows us to be by the side of our customers, ensuring a smooth and enjoyable ownership journey. Beyond the products, we also look forward to engaging with customers through our initiatives like Suzuki MotoFest, the Access Mileage Contest, V-STROM Experience rides, and Gixxer Pitstop that truly celebrate the spirit of motorcycling. We sincerely thank our dealer partner, Gauarav Kanodia & Rajan Aggarwal for their collaboration in making this possible. With this new addition, we now have 13 touchpoints in Punjab.”

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Chennai-headquartered Royal Enfield, the mid-size motorcycle segment leader under Eicher Motors, has officially expanded its twin-cylinder lineup with the launch of the Bullet 650 in India.

The introduction marks the most powerful displacement variant in the model's 94-year continuous production history, following its initial public presentation at the EICMA 2025 motorcycle show in Milan.

The motorcycle is priced at INR 364,856 (ex-showroom) and is available for retail purchase at authorised Royal Enfield dealerships across India.

The Bullet 650 transitions the classic commuter nameplate onto Royal Enfield's 650cc parallel-twin engine architecture, featuring a 6-speed gearbox equipped with an assist and slipper clutch for lighter lever operation. The chassis is built around a steel tubular spine frame.

It is developed in partnership with Showa, featuring 41mm front forks with 120mm of travel and twin-tube hydraulic shock absorbers at the rear providing 112mm of travel. The motorcycle retains traditional proportions with a 19-inch front spoked wheel and an 18-inch rear wheel setup to maintain its signature upright stance.

The mechanical layout is completed by a pair of dual peashooter exhaust pipes finished in chrome, tuned to deliver a distinct, low-frequency twin-cylinder exhaust note.

The styling cues of the Bullet 650 pay direct homage to its historic post-war iterations, specifically referencing design hallmarks established by the brand in 1954:

The Bullet 650 features the iconic teardrop fuel tank decorated with a vintage-inspired 3D winged badge and hand-painted gold pinstripes. The front fascia retains the traditional steering casquette housing an updated LED headlamp, flanked by signature ‘tiger-eye’ pilot lamps.

The switchgear uses polished aluminium housings equipped with retro-styled rotary switches and adjustable hand levers.

The seats come fitted with a contoured, single-step bench design to offer optimised cushion support for long-distance riding alongside easy ground clearance for the rider.

The instrument cluster bridges vintage aesthetics with modern instrumentation, integrating a classic analogue speedometer with a secondary digital LCD layout that relays fuel levels, trip parameters, a gear position indicator, and automated service reminders.

The motorcycle debuts with two primary dual-tone factory paint schemes engineered to highlight its old-school lines – Cannon Black and Battleship Blue.

B Govindarajan, Managing Director, Eicher Motors and CEO, Royal Enfield, said, “For over nine decades, the Bullet has stood as a symbol of authenticity, resilience, and unmistakable character — defining Royal Enfield’s philosophy of Pure Motorcycling. With the all-new Royal Enfield Bullet 650, our approach was not to reinterpret the Bullet, but to elevate it with modernity and authenticity. Every element — from its proportions and silhouette to its stance and detailing has been carefully evolved to retain the pure essence and character of the iconic machine, while seamlessly integrating the power and refinement of the parallel twin 650cc platform. The interest since its global showcase at EICMA 2025 reaffirms how deeply the motorcycle resonates with the riders across the globe, proving it is the original icon of the motorcycling universe.”

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Honda Motorcycle & Scooter India (HMSI) has surpassed the 10 million cumulative two-wheeler sales milestone across North India, which includes Delhi, Haryana, Chandigarh, Punjab, Himachal Pradesh, Rajasthan, Jammu & Kashmir and Ladakh – accounted for approximately 15 percent of the company’s overall domestic wholesale volume during FY2026.

The milestone highlights Honda Motorcycle & Scooter India’s ongoing consolidation in key volume categories across northern states. According to internal wholesale tracking data for FY2026, the manufacturer secured an approximate 75 percent market share (nearly three out of every four units sold) within the entry-level 110cc scooter sub-segment in the region. The brand also maintained a strong volume share within the 125cc commuter motorcycle class, driven by steady regional demand for platforms like the Shine 125 and SP125.

To manage its regional sales volume and support vehicle lifecycle requirements, the company currently operates an expansive network of more than 1,000 authorised customer service and touchpoint locations across the northern zone.

Looking forward, HMSI intends to build on this regional volume foundation by systematically expanding its premium ‘BigWing’ retail network. This physical expansion will coincide with a strategic push to enhance its mid-size and higher-displacement motorcycle line-up to address premiumisation trends in semi-urban and metro markets.

Mutsuo Usui, Director of Sales & Marketing, Honda Motorcycle & Scooter India, said, “Reaching the 10 million milestone in North India reflects how deeply two-wheelers are embedded in everyday mobility across the region, particularly beyond the large urban centres. Our focus has been on building consistent access and reliability over time and we see this continuing as customer expectations evolve.”

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Bengaluru-based electric two-wheeler manufacturer Ultraviolette Automotive has announced a major engineering pivot for its upcoming Tesseract e-scooter, transitioning the vehicle to a new 100V high-voltage powertrain architecture.

This shift, it claims, makes it India’s first electric scooter built on a 100V platform. To accommodate these extensive technical re-engineering cycles and subsequent validation testing, the official commercial launch has now been pushed to January 2027.

The technical overhaul follows a public roadshow across 30 Indian cities, where the company said it gathered direct consumer feedback from prospective buyers. Ultraviolette has received over 70,000 bookings for the Tesseract since its initial conceptual reveal.

The transition from a conventional 60V setup to the 100V platform was driven by the challenge of managing high current flow and exponential heat generation while chasing performance targets. The production-spec Tesseract is equipped with a 15kW peak power electric motor, delivering roughly three times the power output of mainstream electric scooters and mimicking the performance metrics of a 200–250cc combustion engine.

The production-spec Tesseract is scheduled to enter early assembly and tool-up phases by the end of 2026. Production will be handled at the company's upcoming manufacturing plant, which is set to boost Ultraviolette’s localised production capabilities from 60,000 units annually to 150,000 units to support the higher volume requirements of its mass-market scooter line. The company is targeting initial retail distribution and customer deliveries within the first quarter of 2027, with base prices projected to start around INR 145,000 (ex-showroom).

Narayan Subramaniam, CEO and Co-Founder, Ultraviolette, said, “Building the Tesseract has been an incredibly ambitious and challenging journey for us. As we pushed the platform further through development and validation, it became evident that achieving the benchmarks we had set for ourselves required additional engineering and refinement – especially on the ride ergonomics and radical redesign of the battery architecture. While this extends our launch timeline, it ensures that every Tesseract customer receives a scooter that is not only future-ready but embodies the Ultraviolette DNA of performance, technology, and reliability.”

Niraj Rajmohan, CTO and Co-Founder, Ultraviolette, added, “From the very beginning, the vision for the Tesseract was to create a scooter that would redefine benchmarks for the industry. Delivering on the performance and technology promises we made, while staying true to the Ultraviolette DNA, required us to rethink and evolve the platform significantly. The transition to a 100V architecture is a major step in that direction, enabling higher levels of power delivery, load carrying capability, and efficiency. Every engineering decision we have made on the Tesseract has been guided by our commitment to deliver a product that sets a new standard for mobility- in India and globally.”

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