Summary:
India's two-wheeler market recorded higher sales in October 2026, with TVS Motor reporting 29% total sales growth. Electric two-wheeler registrations reached around 2.24 lakh units, up 48% year on year. Manufacturer dispatches and retail registrations remain distinct measures for comparison.
India’s two-wheeler sales grew healthily in October 2026 on the back of festive demand and growing interest in electric vehicles. TVS Motor Company reported a 29% year-on-year increase in total sales, while Honda Motorcycle & Scooter India and Royal Enfield also reported higher domestic dispatches. Electric two-wheelers registered a new high for the month.
TVS Motor Tops October Sales Growth
TVS Motor Company (NSE: TVSMOTOR) announced total sales of 7,00,134 units for the month of October 2026 as compared to 5,43,557 units year ago, recording a growth of 29% YoY.
It sold 5,14,764 domestic two-wheelers in October 2025, up 22% from 4,21,631 units a year ago. Domestic dispatches grew 6.8% month-on-month from 4,82,073 units in September.
The growth was driven in large part by electric vehicles. TVS sold 71,382 electric two-wheelers recording a growth of 120% from 32,387 units sold in the same month last year.
The company’s international business also did well with sales rising 51% to 1,75,350 units.
Honda, Royal Enfield continue to grow sales
Honda Motorcycle & Scooter India posted a growth of 11% YoY in domestic sales at 664,831 units in October against 598,952 units.
Royal Enfield’s parent Eicher Motors (NSE: EICHERMOT) reported domestic motorcycle sales of 1,21,527 units, up 4% from 1,16,844 units in October 2025.
Demand for its motorcycle portfolio during the festive period backed Royal Enfield’s performance.
Here's how the major manufacturers did:
| Manufacturer | Domestic Sales | YoY Growth |
| TVS Motor | 5,14,764 units | +22% |
| Honda Motorcycle & Scooter India | 6,64,831 units | +11% |
| Royal Enfield | 1,21,527 units | +4% |
| October 2026 | ||
The figures are based on dispatches from the manufacturer and do not represent final customer registrations.
Sales of Electric Two-Wheelers Have Hit a Record High
India’s electric two-wheeler market recorded around 2.24 lakh registrations in October, up by around 48% YoY.
TVS led the retail market of electric two-wheelers with around 60,400 registrations, followed by Bajaj Auto (NSE: BAJAJ-AUTO) with around 49,100 units.
Around 31,800 registrations were reported by Ather Energy (NSE: ATHERENERG) and around 29,900 electric two-wheelers were registered by Hero MotoCorp (NSE: HEROMOTOCO).
The rise in electric scooter adoption is a sign of growing consumer acceptance, especially in urban markets.
But manufacturers’ dispatch figures should not be confused with retail registrations. Dispatches is the number of vehicles shipped to dealers. Registrations is the number of vehicles recorded in the retail registration system.
TVS Motor Share Price Rises After October Sales
TVS Motor shares rose 1.37% to ₹4,252.50 in early trade on November 2, 2026, after the company recorded solid sales for October.
At around 9:57 AM, the stock was trading at ₹4,227.60, up 0.77% for the day with approximately 1.91 lakh shares changing hands.
The Nifty Auto index also rose more than 1% in early trade, reflecting positive sentiment after monthly sales announcements.
Investor sentiment was cheered by TVS Motor’s 29% overall sales growth and 120% growth in electric two-wheeler sales.
October’s figures were encouraging, but the sector is struggling with headwinds from rising commodity costs and changes in consumer demand.
The next few months will be a test of whether festive demand translates into sustained sales growth, especially as makers balance production, dealer stocks and electric vehicle expansion.
