2-Wheelers

Hero, TVS and Suzuki report higher September two-wheeler volumes

Hero, TVS and Suzuki posted higher September two-wheeler volumes, but export trends differed. TVS reported strong electric vehicle growth, while Hero’s export dispatches fell from the same month last year.

Hero MotoCorp reported September 2026 dispatches of 766,348 motorcycles and scooters, up 11.5% from a year earlier. TVS Motor’s two-wheeler volumes increased 23.3% to 645,955, while Suzuki Motorcycle India reported 133,688 units, up 8.2%.

Domestic and export figures show different patterns. Hero’s domestic dispatches rose 14.1%, but exports declined 31.1% year on year. Its reported 5% export increase was a comparison with August, and does not describe the annual trend.

TVS reported 65,799 electric two-wheelers, against 31,266 in September 2025, an increase of 110.4%. These vehicles are included within its two-wheeler total. Its headline 672,790 vehicles also includes 26,835 three-wheelers, which are excluded from this comparison.

Hero reported 100,354 scooters and 665,994 motorcycles. Scooter dispatches rose 64.5%, compared with 6.4% for motorcycles, indicating a different product mix within its overall growth. Hero also reported 28,798 VIDA dispatches, without an explicit domestic/export split for that figure.

The export divergence also matters for interpreting headline growth, because overseas shipments contribute to total volumes without measuring demand from Indian consumers.

All three manufacturers recorded domestic growth, but TVS and Suzuki’s exports increased while Hero’s declined. The figures measure company-reported dispatches or sales. They should not be presented as retail registrations, and this three-company selection does not establish overall two-wheeler industry growth.

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