January 2026 two-wheeler retail sales in India:
Market Overview
- Total Sales: 18,52,870 units in January 2026 — up 20.82% year-on-year.
- Rural vs Urban: Rural accounted for ~56% of sales, but urban grew faster at +22.19% YoY.
- Fuel Mix: Petrol/ethanol two-wheelers dominated with 93.27% share; EVs stood at 6.63%, slightly down from December 2025.
Brand Performance
- Hero MotoCorp: Market leader with 4,92,167 units (26.56% share).
- Honda Motorcycle & Scooter India: Close second at 4,72,938 units (25.52%).
- TVS Motor Company: Third with 3,64,241 units (19.66%).
- Bajaj Auto: Fourth at 1,95,752 units (10.56%).
- Royal Enfield: 1,06,398 units (5.74%), showing steady demand in mid-size/lifestyle segment.
- Others: Suzuki (98,899 units, 5.34%), Yamaha (64,399 units, 3.48%), Classic Legends (4,940 units, 0.27%).
EV Segment
- Ather Energy: 21,999 units (1.19%).
- Ola Electric: 7,516 units (0.41%).
- Other EV makers: Greaves (5,337), Piaggio (2,939), River Mobility (2,587), Bgauss (2,477).
- EV share fell slightly compared to December 2025 (from 7.4% to 6.63%).
Key Takeaways
- Hero remains the leader, but Honda is closing the gap significantly.
- Urban demand is accelerating, pointing to replacement and upgrade cycles beyond festive buying.
- EV adoption is steady, but growth momentum slowed in January.
- ICE two-wheelers continue to dominate overwhelmingly.
Would you like me to also create a comparison table of top brands’ market shares so you can see how close Honda is to overtaking Hero?
