The two-wheeler industry in India is gearing up for the festive season and in contrast to the four-wheeler segment, it continues to expect a healthy growth demand.

Taking a closer look at the company-wise sales performance for the month of September 2024, Hero MotoCorp the world’s largest two-wheeler maker reported 19 percent growth YoY in the domestic market. The company sold 616,706 two-wheelers, as against 519,789 units for the same period last year.

Hero MotoCorp states that there is a positive sentiment prevalent in the industry as it approaches the festive season on the back of a good monsoon. It has a strong pipeline of bookings and is experiencing increased customer footfall leading up to the festive season. The company expects healthy growth during the 32-day period starting from October 3.

Honda Motorcycle & Scooter India (HMSI) reported wholesales of 536,391 units, which was 9 percent higher than 491,802 units last year.

During the period the company attained a new sales milestone for its popular scooter the ‘Activa’, which went home to over 10 million customers in the South Indian states and union territories of Tamil Nadu, Karnataka, Telangana, Kerala, Andhra Pradesh, Puducherry, and Andaman & Nicobar Islands.

TVS Motor Co, too reported a healthy growth of 23 percent YoY with 369,138 two-wheelers sold, compared to 300,493 units for the same period last year.

The company’s EV sales registered a growth of 42 percent increasing from 20,356 units in September 2023 to 28,901 units in September 2024.

For Pune-based Bajaj Auto, the monthly two-wheeler sales jumped by 28 percent, from 202,510 units in September 2023 to 259,333 units in September 2024.

Chennai-based Royal Enfield, a leading mid-sized motorcycle manufacturer, continued to drive sales with its product offensive strategy. The company reported 7 percent growth for September 2024, selling 79,326 units, as against 74,261 units for the same period last year.

Overall, the two-wheeler segment is expected to see a robust demand driven by both rural and urban India as the festivities approach.

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Hero MotoCorp, the world’s largest two-wheeler manufacturer, has announced its financial results for Q4 FY2026 and fiscal year 2026.

In Q4 FY2026, the company sold 6.46 million units, which translates to a revenue of INR 127.9 billion, representing a growth of 29 percent compared to INR 99.39 billion in the same period last year. Net profit for the quarter was INR 14.01 billion, a 30 percent YoY growth.

In FY2026, Hero MotoCorp sold 64.69 million units, revenue from operations of INR 468.30 billion and a net profit of INR 52.68 billion. The EBITDA margin for the year was 14.7 percent, an increase of 30 basis points from the previous year.

Harshavaradhan Chitale, CEO, Hero MotoCorp, said, “FY2026 marks a defining chapter for Hero MotoCorp. Our record performance reflects not only our sustained leadership as the world’s largest manufacturer of motorcycles and scooters for 25 consecutive years, but also our commitment to defining the future of mobility. This growth was broad-based, driven by a strong premium and EV product portfolio and momentum across both, domestic and global markets. As we look ahead, we are encouraged by the supportive government policies, positive consumer loyalty and sentiment and the accelerating shift towards electrification and premiumisation. These factors position us well for FY2027, as we continue to lead the industry’s transition towards sustainable and innovative mobility solutions.”

The company reported growth across its product segments, including the 100cc to 125cc, scooter and premium categories. The company’s electric vehicle brand, VIDA, reached retail sales of 151,748 units, a growth of 190 percent over the previous year. Its market share increased from 6.1 percent in March 2025 to 11.2 percent in March 2026. The Harley-Davidson business recorded a 26 percent increase in dispatch volumes, expanding its network to 150 touchpoints.

Global operations reached a dispatch volume of 403,00 units, a 40 percent YoY growth. The company entered markets in Europe and the United Kingdom, bringing its presence to 52 countries. The parts, accessories and merchandising business generated revenue of INR 61.47 billion. Hero MotoCorp also increased its stake in Euler Motors to 36.7 percent.

During the year, several leadership appointments were made. Harshavardhan Chitale was named CEO, Kausalya Nandakumar became Chief Business Officer for the Emerging Mobility Business Unit, and Madhuri Mehta was appointed Chief Human Resources Officer. Other appointments included Latika Taneja as Head for Corporate Communications, Manish Srivastava as Chief Quality Officer, and Sachin Agrawal as Chief Technology Officer.

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Hero MotoCorp, the world’s largest two-wheeler manufacturer, has appointed Sachin Agrawal as its new Chief Technology Officer, with the transition effective from 21 May 2026.

Agrawal takes responsibility for the company's Research and Development (R&D) division during a phase focused on electric vehicles and alternative fuel technologies. He succeeds Vikram Kasbekar, who departs from the technical role while maintaining his position as an Executive Director on the board.

The new appointee manages the manufacturer's global engineering footprint, which includes the Hero Centre for Innovation and Technology in India and the Hero Tech Centre Germany. He will be responsible for leading the development of next-generation mobility, electrification and alternative fuels.

Agrawal joins Hero MotoCorp with nearly three decades of experience in automotive engineering and leadership. He previously served as the Executive Vice-President and Head of R&D and Technology at VE Commercial Vehicles, a joint venture between the Volvo Group and Eicher Motors.

His technical portfolio includes product development for diesel, CNG, electric and hydrogen platforms, as well as work on connected mobility, artificial intelligence (AI) integration and software-defined vehicle ecosystems. Earlier in his career, he worked at Daewoo Motors on chassis design for the Matiz in South Korea. Agrawal has also served as the Chairperson of the SIAM Frontier Technology and Innovation Group and led the Volvo Group’s Global Centre of Excellence for Medium Duty Engine Development.

Agrawal is an alumnus of IIT Bombay, where he was a Gold Medallist in M.Tech Mechanical Design and he is a Leadership Fellow from Carnegie Mellon University.

Dr. Pawan Munjal, Executive Chairman, Hero MotoCorp, said, “We are delighted to welcome Sachin to our leadership team. His deep expertise across mobility technologies and proven track record of driving innovation at scale make him uniquely suited to lead both our technology vision and R&D organisation. As we accelerate our journey towards electrification and next-generation mobility solutions, his leadership will be instrumental in shaping a future-ready, customer-centric innovation agenda”.

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TVS Motor Company (TVSM), one of the leading manufacturers of two-wheeler and three-wheelers, has reported 473,970 units wholesales for April 2026.

This marks a 7 percent growth compared to the 443,716 units sold in April 2025. While customer demand remains strong in both domestic and international markets, the company noted that dispatch volumes were limited by production issues.

The company reported that production was affected by several supply chain constraints. It saw shortages in raw materials, consumables and workforce availability, which impacted tier-1 and tier-2 suppliers. Limited container availability hindered timely international dispatches. It has placed countermeasures and it expects production to recover during May 2026.

Despite manufacturing hurdles, two-wheeler sales grew by 6 percent YoY to 455,333 units, which includes 348,545 units in domestic market, up 8 percent YoY.

Scooter sales increased by 24 percent to 211,158 units, while motorcycles accounted for 200,039 units. The electric vehicle portfolio grew by 36 percent, with sales rising to 37,771 units.

Three-wheeler sales recorded a 37 percent growth, reaching 18,637 units.

Lastly, total international sales grew by 3 percent to 120,008 units.

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Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, has reported 566,086 unit wholesales for April 2026, up 85 percent YoY, as compared to 305,406 units last year.

Domestic sales came at 532,433 units, up 85 percent YoY, as compared to 288,524 units a year ago. This includes 501,791 motorcycles at 75 percent YoY and 64,295 scooters, up 233 percent YoY.

Domestic retail performance also remained robust during the month, with 552,713 two-wheeler registrations (as per VAHAN) indicating growth of around 8 percent. 

VIDA, Hero MotoCorp’s e-mobility business, reported a 129 percent YoY growth, albeit a low-base.

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