Two-wheeler majors bounce back with strong double-digit growth in May

Analysts estimate a 4 to 7 per cent rise in FY26, driven by product innovation, supportive policy frameworks, and increasing mobility needs in emerging markets

After a tepid start to 2025-26 (FY26), two-wheeler (2W) majors posted double-digit year-on-year growth in May. Leading 2W manufacturers like Bajaj Auto, Eicher Motors (Royal Enfield), TVS Motor Company, Hero MotoCorp, and Suzuki Motorcycle India all recorded an increase in domestic sales compared to May 2024. Meanwhile, Honda Motorcycles & Scooters India (HMSI) reported a muted performance for the month.

 

“The 2W market grew in May due to the convergence of rural sentiment, pre-monsoon demand, and higher export allocations,” said Nikhil Dhaka, vice-president, Primus Partners.

 

Analysts estimate a 4-7 per cent rise in FY26, driven by product innovation, supportive policy