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

Top performers included Hero MotoCorp and Honda, both reporting strong YoY sales growth

After taking a look at the wholesales (company plant to dealer), let us now see retail sales (dealer to customer) performance. Two wheeler retail sales for January 2026 have been released and a positive sentiment is seen across ever OEM with the exception of Ola Electric. Total retail sales improved both year-on-year and month-on-month to 18,52,870 units. This was a 20.82% YoY growth from 15,33,556 units of January 2025 while 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. EVs accounted for 6.63%, slightly higher than January 2025 but down month-on-month, while CNG/LPG models remained negligible at just 0.10%.

On a year-to-date basis as well, the two wheeler segment in India performed well. New launches, particularly in the electric scooter segment, have boosted demand up to 1,77,50,499 units in the YTD FY26 period. This was a 10.85% growth over 1,60,13,199 units sold in the same period last year. Key demand drivers included improvement in rural purchasing power along with sustained urban demand, while factors such as finance incentives also boosted sales.

2W Retail Sales January 2026

According to Federation of Automobile Dealers Associations (FADA), Hero MotoCorp and Honda led, with both reporting strong YoY growth. Hero MotoCorp sales went up to 4,92,167 units, a volume rise of 80,638 units. Hero currently commands a 26.56% market share.

At No. 2 on this list, Honda sales also saw a surge by nearly 1 lakh units. Sales went up to 4,72,938 units in January 2026 from 3,74,474 units in January 2025. Significant rise in retail demand was also seen in the case of TVS Motor with 3,64,241 units sold last month, a rise over 2,88,742 units of January 2025. Market share also went up to 19.66% from 18.83%, with balanced performance across both its motorcycle and scooter segments.

It was followed by Bajaj Auto with 1,95,752 units sold in January 2026, a growth over 1,74,414 units while Royal Enfield has posted sales of 1,06,398 units, also showing strong year-on-year growth, driven by sub-350cc motorcycle demand. In the sub 1 lakh unit segment, Suzuki Motorcycles sales were at 98,899 units in the past month while Yamaha Motor added 64,399 units to the total retail sales tally.

Electric 2W Retail Sales January 2026

In the electric 2W segment, Ather Energy saw far higher demand as compared to other EV makers. Ather retail sales went up to 21,999 units from 13,097 units on a year-on-year basis. Major contributions to this sales figure came from the Ather Rizta which only recently surpassed the 2 lakh unit sales mark, since its launch in April 2024.

Ola Electric was the only OEM on this list to suffer a decline in demand. Sales fell to 7,516 units last month, down from 24,413 units in January 2025. Sales of Ola have been on the decline in recent months bringing about a sharp decline in market share. Greaves / Ampere Electric sales went up to 5,337 units from 3,613 units YoY while Bangalore based EV startup, River Mobility that has the River Indie electric scooter in its portfolio, accounted for sales of 2,587 units. This was a sharp rise over 611 unit sales of January 2025. Lower down the sales order, BGauss sales stood at 2,477 units

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