The two-wheeler industry saw a modest uptick in October, with total domestic wholesales touching 2.11 million units, a 2% rise from 2.06 million in the same month last year. The improvement marked the second consecutive month of growth following the GST rate cut.
Most leading manufacturers, barring Hero MotoCorp and Suzuki Motorcycle, reported positive momentum. Honda Motorcycle & Scooter India (HMSI) and TVS Motor Company led the charge, each recording 8% growth. HMSI’s sales climbed to 598,952 units from 553,120 units last October, driven by renewed demand for scooters and commuter motorcycles. TVS, meanwhile, sold 421,631 units compared to 390,489 units a year ago.
Bajaj Auto maintained steady gains with a 4% rise to 266,470 units from 255,909 units last year. Royal Enfield continued its upward trajectory with a 15% jump, selling 116,844 units against 101,886 units in October 2024. Suzuki Motorcycle India, however, slipped marginally by 1%, reporting 103,454 units compared to 104,940 units a year ago, indicating pressure in the highly competitive 125cc and scooter segments.
Hero MotoCorp reported an 8% decline in dispatches to 604,829 units from 657,403 units in October 2024. The company appeared to be recalibrating its wholesale volumes following strong festive sales, aligning dealership inventory with actual retail movement. Data from the Vahan portal showed retail registrations holding firm at 995,000 units. The company said it remains confident of sustained momentum through the remainder of FY26, on the back of its upcoming product launches and improving rural sentiment.