India’s two wheeler market just wrapped up the financial year with numbers that surprised everyone. The usual leader isn’t cruising as comfortably anymore, while competitors like Honda, TVS, and Bajaj are accelerating fast. If you thought the rankings were set in stone, think again.
Here’s a deep dive into who’s winning, who’s catching up, and how the race for dominance in India’s two wheeler industry is evolving right now.
Hero MotoCorp: Still No.1, But the Pressure Is Building
Hero MotoCorp continues to top the charts with 4.9 lakh+ units sold recently, but growth is slowing. Compared to the same time last year, the brand saw a decline of over 5% in the latest monthly sales.
FY 2024 25 performance:
- Total sales: 54.93 lakh units
- Growth over last year: 3.07%
Despite being the undisputed leader for years, Hero’s grip is being tested. With rising competition and shifting buyer preferences, especially in urban and premium segments, Hero will need to innovate and diversify fast.
Honda Two Wheelers: Back With a Bang
Honda Motorcycle and Scooter India has bounced back in a big way. The brand registered strong double digit growth in recent sales and ended the year with a near 15% jump in overall volume.
FY 2024 25 performance:
- Total sales: 47.64 lakh units
- Annual growth: 14.96%
Honda’s performance is being powered by the unstoppable Activa, renewed interest in commuter motorcycles, and a solid distribution network. With this momentum, Honda has firmly reclaimed its position as India’s second largest two wheeler brand.
TVS Motor: Quietly Climbing the Ladder
TVS Motor Company has been making consistent gains and it’s starting to show. The company posted a steady increase in monthly sales and closed the year with nearly 12% growth overall.
FY 2024 25 performance:
- Total sales: 36.95 lakh units
- Year on year growth: 11.69%
With offerings ranging from budget friendly scooters to sporty Apaches and the electric iQube, TVS is balancing mass appeal and innovation better than most. It’s slowly but surely rising to challenge the giants.
Bajaj Auto: Domestic Steady, Global Ambitious
Bajaj Auto might not be making huge domestic waves right now, but it’s far from idle. The brand posted modest domestic growth and is riding high on export demand and upcoming innovation.
FY 2024 25 performance:
- Total domestic sales: 20.37 lakh units
- Annual growth: 12.69%
Bajaj continues to bank on its stronghold in entry level bikes like the Platina and Pulsar. But the real excitement is around the company’s upcoming CNG motorcycle, which could change the game in the mileage focused commuter segment.
Suzuki and Yamaha: Premium Players on the Rise
Suzuki Motorcycle India
- Recent sales momentum: Strong double digit growth
- FY total: 9.38 lakh units
- Annual growth: 20.64%
Suzuki is benefiting from its premium yet practical scooter lineup like the Access 125 and Burgman Street. The brand’s focus on urban markets is clearly working.
Yamaha Motor India
- FY total: 6.74 lakh units
- Annual growth: 13.29%
Yamaha continues to attract younger, enthusiast buyers. With models like the R15, MT15, and Aerox, the company is sticking to its sporty DNA. While its volumes aren’t massive, its loyal following and brand appeal keep it in the game.
Royal Enfield: A Year of Transition
Royal Enfield saw a dip in recent monthly numbers but still posted positive growth over the financial year.
FY 2024 25 performance:
- Total sales: 8.33 lakh units
- Annual growth: 6.94%
The slight slowdown could be linked to product transitions, but with the new Himalayan 450 out and more platform based launches expected, Royal Enfield fans have plenty to look forward to. This might just be a short pause before a strong push.
The Market Story: Who’s Moving Up and Why
It’s no longer just about who sells the most. The dynamics are shifting. The real story lies in how fast brands are adapting to new buyer needs, urban challenges, and changing fuel preferences.
Key Trends:
- Hero’s lead is narrowing, even if it remains strong overall
- Honda is aggressive, both in commuter bikes and scooters
- TVS is the one to watch, with a versatile, future ready lineup
- Bajaj is betting big on alternative fuel and exports
- EVs are growing slowly but surely, especially in urban spaces
- Premium segments are stable but getting more competitive
Honda’s Hot on the Heels
Not far behind, Honda Motorcycle & Scooter India (HMSI) is giving Hero a run for its money. They clocked 401,411 units in March, a 12.08% spike from 358,151 units in 2024. Over FY25, Honda’s sales soared to 5,326,092 units, up an impressive 17.57%. That’s the kind of growth that makes you sit up and take notice. Their Activa scooter and Shine motorcycle are clearly striking a chord, and with new electric models like the Activa e: hitting the market, Honda’s only getting started.
TVS Motor’s Big Leap
TVS Motor Company is the dark horse that keeps surprising me. They sold 297,622 units in March, a 14.24% increase from 260,532 units last year. For FY25, they hit 3,574,243 units, up 12.08%. What’s cool about TVS is their mix—scooters like the Jupiter, bikes like the Apache, and even electric options like the iQube are pulling in buyers. Their export game’s strong too, with a 22.14% jump to 1,065,258 units in FY25. I’m betting their bold designs and techy features are turning heads.
Bajaj’s Steady Ride
Bajaj Auto kept things steady, selling 183,659 units in March, just a 0.36% nudge from 183,004 units last year. For FY25, they clocked 2,308,249 units, up 2.56%. While their domestic growth was modest, Bajaj’s export numbers are where they shine—1,674,060 units shipped globally, a 13.32% increase. The Pulsar series and the new CNG powered Freedom bike are keeping them in the game, but I’d love to see them push harder at home.
Suzuki and Royal Enfield Shine Too
Suzuki Motorcycle India had a great March, selling 87,058 units, up 12.31% from 77,515 units. Their FY25 total hit 1,045,662 units, a 13.53% rise. Scooters like the Access 125 and Burgman Street are doing the heavy lifting here. Royal Enfield, the king of retro cool, sold 75,551 units in March, up 4.59%. Their FY25 tally reached 902,757 units, an 8.14% climb. Models like the Classic 350 and Hunter 350 keep their fanbase loyal, and their export growth of 37.47% shows they’re winning globally too.
Exports Are Booming
Speaking of exports, the two wheeler industry shipped 2,784,143 units in FY25, a massive 19.37% jump from last year. Bajaj led the pack, but Hero’s exports skyrocketed 43.05% to 287,429 units, and Honda wasn’t far behind with a 39% surge to 505,012 units. Royal Enfield’s 107,143 units abroad prove their cruisers are a global hit. It’s awesome to see Indian brands making waves overseas—it’s like our two wheelers are ambassadors of cool.
What to Expect in the Coming Months
As we head into the new fiscal, the market will only get more competitive. Expect more CNG and electric offerings, aggressive pricing in the commuter space, and more tech packed launches in the mid premium segment.
The battle isn’t just for volume anymore. It’s for brand loyalty, city relevance, and smart innovation. And with these shifts, buyers can look forward to better options, more features, and increasingly exciting value for money.
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