Hero sold 18,68,252 units, just above 18,40,530 units from TVS and 18,28,362 units from Honda.

Overall Q3 CY26 Two-Wheeler Sales

The Big Six two-wheeler makers (Hero, TVS, Honda, Bajaj, Suzuki and Royal Enfield) had a strong period selling 76,07,876 units. This is up from 65,20,543 units in Q3 CY25 – up by 10,87,333 units, which is an increase of 16.68%.

The rise was driven by increased festive demand, positive rural sentiment, increased scooter sales and exports. In September alone the Big Six saw 24,63,103 units dispatched. That is up by 13.5% year-on-year and 21.1% from the previous month.

Rank Brand Q3 CY26 Sales Q3 CY25 Sales YoY Growth

1 Hero MotoCorp 18,68,252 16,90,702 10.50%

2 TVS Motor 18,40,530 14,53,501 26.63%

3 Honda 18,28,362 16,18,403 12.97%

4 Bajaj Auto 12,83,961 10,68,987 20.11%

5 Suzuki 4,08,102 3,62,575 12.56%

6 Royal Enfield 3,78,669 3,26,375 16.02%

Hero MotoCorp closed Q3 CY26 having sold 18,68,252 units. The brand sold 10.50% more units than in Q3 CY25. This means it now has a 24.56% market share of the Big Six. TVS is only 27,722 units away from Hero MotoCorp and Honda is 12,168 units behind TVS. This means the top three is now super tight, and could easily move around depending on monthly performance.

In September 2026 Hero led domestic dispatches with 7,39,432 units. The brand increased by 14.2% year-on-year. It is up massively month-on-month by 36.3%. Splendor lead sales with nearly 62% of their volumes in August.

TVS Motor Grows Fastest

TVS had the highest growth of the Big Three. The brand saw sales increase by 26.63%, up to 18,40,530 units from 14,53,501 units. That increased by 3,87,029 units in just one quarter.

TVS also had the highest growth of the Big Six from domestic sales. They saw 24.05% growth and ended Q3 with 13,53,263 units. Scooters have been a big success for them. iQube topped India’s electric two-wheeler sales charts in September.

TVS Motor also had some great growth in exports. They saw 4,87,267 units exported. This is up by 34.37% year-on-year. They are second only to Bajaj.

Honda Motorcycles Close Behind

Honda Motorcycle & Scooter India sold 18,28,362 units. This is an increase of 12.97% from previous year. They are only 12,168 units behind TVS.

They took the domestic lead in September 2026 having sold 6,36,768 units. This increased by 25.9% year-on-year. It is also a 23.1% increase from the previous month. This also means it had the largest increase from year-on-year from the brands with September dispatches.

Bajaj Auto Leads From Exports

Bajaj Auto had 12,83,961 units sold. This is up by 20.11% year-on-year. They are still in fourth place but topped exports with 6,76,545 units. This is up by 43.21%.

Bajaj Auto only had 6,07,416 units sold domestically. While they have an advantage with exports, they are facing competition in the domestic motorcycle market with Hero and Honda still selling much higher volumes.

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Suzuki Motorcycles India

Suzuki Motorcycle India had 4,08,102 units. This is up by 12.56% year-on-year. They had 62,144 units exported and 3,45,958 units sold domestically.

Royal Enfield had 3,78,669 units. This is an increase of 16.02% from 3,26,375 units in Q3 CY25. They exported 37,822 units and sold 3,40,847 units domestically.

Overall Domestic & Export Sales

Domestic sales from the Big Six totalled 60,60,833 units. This is an increase of 13.98% year-on-year. Hero led with 17,82,816 units, followed by Honda at 16,30,533 units and TVS at 13,53,263 units.

Exports were led by Bajaj Auto with 6,76,545 units, followed by TVS Motor (4,87,267), Honda (1,97,829), Hero (85,436), Suzuki (62,144) and Royal Enfield (37,822).

What This Means

Despite Hero winning Q3, they still have the strongest position in the market from mass market motorcycles, especially from the 100-125cc sector. However, TVS growth of 26.63% should make the market leader concerned.

With TVS ahead of Honda and catching up to Hero, we could see a completely different outcome in Q4 CY26. With rising demand from scooters, electric two-wheelers and exports TVS have many drivers behind their growth. Hero will need to rely on its Splender, Destini and Vida ranges.

Hero MotoCorp may currently be leading the Indian two-wheeler market, but Q3 CY26 shows they are under threat. TVS are growing fastest, Honda are hot on their heels and Bajaj are dominating exports. The next quarter will be one of the most watched battles in the Indian two-wheeler industry.

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