Two-Wheeler Sales Report July 2026

Honda Motorcycle & Scooter India overtook Hero MotoCorp at retail for the first time all year in July 2026, even as Hero widened its lead on wholesale dispatches. Suzuki Motorcycle India logged its highest-ever monthly sales, and Royal Enfield’s numbers carried an extra layer of significance: this was the first full month with its debut electric motorcycle, the Flying Flea C6, in customer hands. Meanwhile, the electric scooter race saw TVS extend its lead as Ola Electric and Ather Energy both slipped for a second straight month.

Not every OEM has reported yet. TVS Motor and Bajaj Auto, the country’s second- and third-largest two-wheeler makers by volume, had not published their July wholesale dispatch numbers as of this report’s publish date. We’ve flagged exactly where those gaps sit below, and this report will be updated the moment SIAM, FADA and the two companies release them.

July 2026 Two-Wheeler Sales At a Glance

Hero MotoCorp: Widens the Wholesale Gap

Hero MotoCorp dispatched 5,33,416 units in July 2026, up 18.6% year-over-year from 4,49,755 units in July 2025. Domestic dispatches grew faster than the total, up 21.6% to 5,01,403 units, while exports fell 14.3% to 32,013 units. Within the mix, motorcycles accounted for 4,68,565 units and scooters 64,851 units, both ahead of their year-ago levels.

This is a sharp turnaround from Hero’s June 2026 performance, when domestic dispatches had actually declined on a like-for-like monthly comparison. The July jump suggests the earlier softness was more of a base-effect blip than a structural slowdown, though a single strong month isn’t enough to confirm the trend has reversed for good.

Honda Motorcycle & Scooter India: Retail Leader, But Still Behind on Dispatches

HMSI reported total sales of 5,42,934 units in July 2026, a 5.35% year-over-year increase over 5,15,378 units in July 2025. Domestic sales grew a more modest 2.17% to 4,76,436 units, while exports were the standout, up 35.58% to 66,498 units.

The more striking data point for July came from VAHAN retail registrations rather than company dispatches: Honda recorded 4,49,473 retail registrations against Hero’s 4,19,456, making HMSI India’s top-selling two-wheeler brand at retail for the month, ending Hero’s six-month run at the top of the monthly retail charts. It’s worth being precise here because the two metrics tell different stories: Hero still ships more units to dealers (wholesale), but Honda sold more units to actual customers (retail) in July. That gap between wholesale and retail is itself the interesting story of the month for anyone tracking dealer inventory in the commuter segment.

Suzuki Motorcycle India: Best Month on Record

SMIPL sold 1,42,985 units in July 2026, up 26% year-over-year from 1,13,600 units in July 2025, and the company confirmed this is its highest-ever monthly sales figure. Domestic sales hit a record 1,23,216 units, up 28%, while exports rose 13% to 19,769 units. The company also flagged an all-time-high spare parts revenue of ₹102.9 crore for the month, up 23% year-over-year, a secondary but useful signal of a growing installed base of vehicles on the road.

Royal Enfield: Growth Plus a First-of-its-Kind EV Debut

Royal Enfield sold 1,18,232 units in July 2026, up 34% year-over-year from 88,045 units in July 2025. Domestic sales led the growth, up 38% to 1,05,317 units, while exports grew roughly 10% to 12,915 units from 11,791 units a year earlier.

The bigger story sits underneath the topline number. July was the first month with meaningful retail availability of the Flying Flea C6, Royal Enfield’s debut electric motorcycle, priced at ₹2.79 lakh ex-showroom (or ₹1.99 lakh with a lower upfront-cost financing option). The company expanded Flying Flea-specific retail and service touchpoints in Bengaluru during the month, where the brand opened its first dedicated Flying Flea showroom in April 2026. Royal Enfield’s Board also approved a ₹1,225 crore investment for Phase I of a greenfield expansion in Andhra Pradesh, a capacity signal worth watching as EV volumes scale.

Electric Two-Wheelers: TVS Extends Its Lead as Ola and Ather Both Decline

Retail registrations for electric two-wheelers, per VAHAN portal data, stood above 1.93 lakh units in July 2026. TVS Motor led the segment with 52,538 registrations and a 27.15% market share, up 10.8% month-over-month. Bajaj Auto held the second spot with 43,607 registrations (22.53% share), roughly flat compared with June.

Both Ather Energy and Ola Electric declined for the second consecutive month. Ather slipped 8.3% month-over-month to 28,819 registrations (14.89% share), while Ola Electric fell a steeper 19% to 13,170 registrations (6.80% share), continuing a slide that has cost the company significant ground since its 2025 peak. Hero MotoCorp’s Vida brand held fourth place with 21,174 registrations (10.94% share), and Greaves Electric Mobility (Ampere) rounded out the top five with 9,701 registrations (5.01% share), down 11.3% month-over-month.

Among the smaller EV-first brands, BGauss posted the fastest month-over-month growth in the top ten at 33.9%, reaching 5,324 units, followed by River Mobility at 5,554 units (+24.8%).

A note on the numbers: VAHAN-sourced EV registration figures vary slightly by the exact date they’re pulled, since dealer-level registrations continue to update the portal for several days after month-end. A separate industry read using a July 29 cutoff showed marginally different totals (Ather at roughly 25,900–28,500 units and Ola at roughly 11,900–13,100 units depending on source and date). The rankings and the direction of the month-over-month trend, TVS extending its lead while Ola and Ather both softened, are consistent across every version of the data we checked.

Wholesale vs Retail: Why Hero and Honda’s July Reads Differently Depending on Which Number You Use

This month is a genuinely useful illustration of why wholesale and retail figures can’t be used interchangeably. On wholesale dispatches, the number an OEM reports as units shipped to its own dealer network, Honda’s 5,42,934 units edged out Hero’s 5,33,416 units for the month. But on retail registrations, the number of vehicles actually registered by end customers via VAHAN, Honda’s 4,49,473 also outpaced Hero’s 4,19,456, which is the more significant shift since it marks the first time in 2026 that Honda has led Hero at the point of actual customer sale rather than just factory dispatch.

Neither figure is “wrong.” They measure different things: wholesale reflects what the OEM pushed into the channel, retail reflects what the channel sold through to customers. When the two move together, as they largely did for Honda this month, it suggests dealer inventory is being absorbed at a healthy pace rather than building up. We’ll cover this in more depth once Bajaj and TVS’s wholesale numbers are available and a fuller wholesale-vs-retail comparison across all major OEMs becomes possible.

What’s Not Yet Available (To Be Added)

In the interest of transparency about what this report can and can’t confirm as of publication:

• TVS Motor’s July 2026 total wholesale dispatch figure has not been released. TVS’s most recent confirmed figure is June 2026, at 5,90,003 total units (two-wheelers: 5,65,417 units, up 47% YoY), a record month that included 48,537 two-wheeler EV units. TVS’s July EV retail registrations (52,538 units) are available via VAHAN and included above, but the company’s own wholesale statement for July has not been published.
• Bajaj Auto’s July 2026 total wholesale dispatch figure has not been released. Bajaj’s most recent confirmed figure is June 2026, at 4,63,202 total units, up 28% YoY. Bajaj’s July EV retail registrations (43,607 units) are available via VAHAN and included above.
• SIAM’s industry-wide two-wheeler wholesale total for July 2026 has not yet been published, so a full market-share table across all OEMs (calculated against the true industry denominator) cannot be built yet.
• FADA’s industry-wide two-wheeler retail registration total for July 2026 was not located as a standalone confirmed release at the time of writing, beyond the segment-specific EV figures cited above.

This report will be updated with TVS, Bajaj, SIAM and FADA figures as soon as they are officially released, consistent with TechyTrends.in’s standard verification practice of publishing a correct figure later rather than an estimated one first.

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