The two-wheeler market started FY27 on a strong footing, with registrations rising 12.9 per cent year-on-year to 1.916 million units in April 2026, showing clear signs of resilient demand across rural and urban markets. On a month-on-month basis, volumes declined 2.3 per cent compared to March 2026, in line with seasonal trends after the year-end buying surge. According to JATO Dynamics India, the April performance indicates improving market stability, supported by better financing access, improving consumer sentiment and sustained retail momentum.

“April’s two-wheeler numbers reflect a mature and predictable market. The marginal month-on-month decline is seasonal and expected. The year-on-year growth, on a higher base, is the real story and it remains firmly intact,” said Ravi Bhatia, president, JATO Dynamics India.

Hero retains market leadership

Hero MotoCorp retained market leadership with 552,713 registrations during the month, though its market share declined 1.29 percentage points year-on-year to 29.21 per cent. Honda followed with 472,274 registrations and a 24.96 per cent market share, up 0.70 percentage points. TVS Motor Company registered 369,158 units, growing 18.32 per cent year-on-year, while Bajaj Auto posted 201,713 registrations, up 9.74 per cent.

Among smaller players, Royal Enfield recorded 96,562 registrations, up 17.03 per cent, while Yamaha grew 20.55 per cent to 63,401 units. Suzuki, however, saw registrations decline 2.36 per cent to 90,342 units. In the electric segment, Ather Energy posted one of the sharpest growth rates with registrations rising 100.78 per cent to 27,394 units, while Ola Electric’s volumes dropped 38.63 per cent to 12,166 units.

As far as models go, Hero Splendor Plus remained India’s highest registered two-wheeler, while Honda Activa continued to dominate the scooter segment ahead of TVS Jupiter. Bajaj Pulsar retained its leadership in sporty commuter motorcycles.

The motorcycle segment accounted for 59 per cent of total registrations in April, while scooters contributed around 30 per cent. Electric scooters increased their share to nearly 9 per cent, reflecting gradual but consistent EV adoption.

Geographically, Delhi emerged as the country’s largest two-wheeler market with 45,755 registrations, followed by Bengaluru at 41,883 and Pune at 33,678. At the state level, Uttar Pradesh led registrations ahead of Maharashtra, Tamil Nadu and Bihar, highlighting broad-based demand across regions.

Brand April 2026 Registrations Market Share (%) YoY Growth (%)
Hero MotoCorp 552,713 28.90% NA
Honda 472,274 24.60% NA
TVS Motor 369,158 19.30% 18.30%
Bajaj Auto 201,713 10.50% 9.70%
Royal Enfield 96,562 5.00% 17.00%
Suzuki 90,342 4.70% -2.40%
Yamaha 63,401 3.30% 20.60%
Ather Energy 27,394 1.40% 100.80%
Ola Electric 12,166 0.60% -38.60%

Source: JATO Dynamics India, April 2026 registrations