The two-wheeler industry maintained its growth momentum in May, with leading manufacturers reporting healthy increases in domestic sales and strong export growth, indicating resilient demand in the domestic market and improving conditions in overseas geographies.

Domestic sales growth ranged from high single digits to mid-double digits across major manufacturers, supported by sustained demand for motorcycles and scooters. At the same time, exports continued to recover, providing an additional growth driver for the industry.

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Brand Breakdowns

TVS Motor Company emerged as the strongest performer among major manufacturers, reporting a 24.3% year-on-year increase in domestic two-wheeler wholesales to 384,565 units in May, compared with 309,287 units in the year-ago period.

The company’s motorcycle sales rose 29.5% to 273,802 units from 211,505 units a year earlier, while scooter sales increased 32.4% to 220,740 units from 166,749 units. TVS also reported a 48.3% rise in two-wheeler exports to 158,546 units, compared with 106,879 units in May 2025.

Honda Motorcycle & Scooter India (HMSI) reported a 10.2% increase in domestic wholesales to 459,611 units, compared with 417,250 units in the corresponding month last year.

Double-Digit Diversification

The company said its network of more than 7,000 customer touchpoints continued to support demand across urban and rural markets. Exports rose 23.6% to 59,166 units in May, compared with 47,859 units a year ago.

Bajaj Auto reported a 9.5% increase in domestic two-wheeler sales to 209,528 units, compared with 191,412 units in May 2025. Exports grew 30.3% to 183,676 units from 140,958 units in the year-ago period, aided by improved demand across international markets.

Sales numbers indicate that demand conditions remained favourable during the month despite concerns over higher fuel prices and broader consumption trends. Industry executives have previously pointed to improving rural demand and stable urban consumption as key factors supporting two-wheeler sales.

The strong export performance across manufacturers is also significant as overseas markets have remained volatile over the past few years due to currency fluctuations and economic uncertainties in several regions. The recovery in exports suggests improving demand in key international markets and provides an additional avenue for growth beyond the domestic market.