Nineteen lakh units. That’s what Indian buyers grabbed off the floor in September alone. FADA’s latest data confirms two-wheeler retail hit 17,90,188 units, a 33.08% jump from last year. It’s not just growth; it’s a record. The number sits 15.3% above the previous September high from 2018, proving the market isn’t just recovering—it’s expanding aggressively. For dealers, the shelves are emptying faster than stock is arriving.
Where is this demand coming from? Everywhere. Rural markets grew 33.11%, almost identical to urban growth at 33.06%. But the momentum shifted slightly in August-to-September comparisons, with urban buyers pulling ahead at 5.29% month-on-month growth versus 3.62% in rural areas. Festive season buying kicked in early, but FADA notes that Shraadh rituals and supply bottlenecks for popular models slowed the pace in the second half of the month. Buyers wanted bikes; factories couldn’t always deliver them.
The electric shift is accelerating, though it’s still a minority. EVs made up 11.58% of September sales, up from 8.17% in September 2025. That’s a significant leap in twelve months. Petrol and ethanol models still dominate at 88.35%, but the gap is closing. For the average buyer, this means more options at lower price points, but also more pressure on charging infrastructure in semi-urban areas where adoption is spiking.
Who’s taking the biggest cut? Honda Motorcycle and Scooter India leads with 4,68,789 units, holding a 26.19% share. Hero MotoCorp is close behind at 24.26%, with TVS at 20.37%. Bajaj Auto trails the top three at 9.28%. The top three players control nearly 71% of the market, a consolidation that leaves little room for smaller brands to gain ground without aggressive pricing or niche positioning.
Looking ahead, FADA sees October as a critical month. Festive days, rural cash flows, and easier financing should boost booking-to-retail conversion. But watch out for price hikes from OEMs and supply constraints in fast-moving models. If rain stays away, demand stays high. The question isn’t if sales will grow, but whether supply can keep up before prices jump.