2W Retail Sales January 2026 – Hero, Honda, TVS, Bajaj, RE, Suzuki, Yamaha, Ather, Ola, Ampere

Top performers include Hero MotoCorp and Honda, both of which reported strong YoY sales growth

Having looked at the wholesale sales (from the company plant to the dealer), let us now look at the performance of the retail sales (from the dealer to the customer). Two-wheeler retail sales for January 2026 have been released and positive sentiment has been seen across all OEMs except Ola Electric. Total retail sales improved year-on-year and month-on-month to 18,52,870 units. This was a YoY growth of 20.82% from 15,33,556 units sold in January 2025, while the MoM saw a massive improvement of 40.70% from 12,16,891 units sold in December 2025.

Fuel wise breakup

In January 2026, petrol/ethanol two-wheelers continued to dominate with a 93.27% share, largely unchanged year-on-year. EV share stands at 6.63%, slightly up from January 2025 but down month-on-month, while CNG/LPG models remained negligible at just 0.10%.

Even on a year-on-year basis, the two-wheeler segment in India performed well. New launches, especially in the electric scooter segment, have driven demand to 1,77,50,499 units in the YTD FY26 period. This is 10.85% more than 1,60,13,199 units sold in the same period last year. Key demand drivers include sustained urban demand as well as improving rural purchasing power, while factors such as finance incentives have also boosted sales.

2W Retail Sales January 2026

According to the Federation of Automobile Dealers Associations (FADA), Hero MotoCorp and Honda are at the forefront, with both reporting strong YoY growth. Hero MotoCorp sales reached 4,92,167 units with volume of 80,638 units. Currently Hero’s market share is 26.56%.

Honda, at number 2 in this list, also saw an increase in sales of almost 1 lakh units. Sales increased to 4,72,938 units in January 2026 from 3,74,474 units in January 2025. The case of TVS Motor also saw a significant increase in retail demand, with 3,64,241 units sold last month, up from 2,88,742 units in January 2025. Market share also increased from 18.83% to 19.66%. Balanced performance across both its motorcycle and scooter segments.

It was followed by Bajaj Auto with sales of 1,95,752 units in January 2026, up from 1,74,414 units, while Royal Enfield reported sales of 1,06,398 units, showing strong year-on-year growth, driven by demand for sub-350 cc motorcycles. In the sub-1 lakh units segment, Suzuki Motorcycle sales stood at 98,899 units last month, while Yamaha Motor added 64,399 units to the total retail sales.

Electric 2W Retail Sales January 2026

In the electric 2W segment, Ather Energy saw far higher demand than other EV manufacturers. On a year-on-year basis, retail sales of Ather increased to 21,999 units from 13,097 units. The major contributor to this sales figure was the Ather Rizta, which recently crossed the sales mark of 2 lakh units since its launch in April 2024.

Ola Electric was the only OEM in the list whose demand declined. Sales declined to 7,516 units last month from 24,413 units in January 2025. Ola’s sales have declined in recent months, leading to a sharp decline in market share. Greaves/Ampere Electric sales rose to 5,337 units from 3,613 units YoY, while Bengaluru-based EV startup River Mobility, which has the River Indy electric scooter in its portfolio, sold 2,587 units. This was a sharp increase compared to January 2025’s 611 unit sales. Breaking down the sales order, BGauss sales stood at 2,477 units.

Classic Legends (Java/BSA/Yezdi) added 4,940 units to total 2W retail sales, also showing strong growth. Piaggio (Vespa/Aprilia) sales rose to 2,939 units from 2,806 units, while other OEMs including electric 2W makers added 10,281 units to total retail sales.