TVS Closes Gap With Rivals
Key Highlights
- TVS Motor is rapidly closing the gap with leading two-wheeler manufacturers.
- TVS sales grew 27.15% in the first half of calendar 2026.
- TVS sold 22.65 lakh units in H1CY26, compared with 17.81 lakh units a year earlier.
- Hero MotoCorp remained ahead with 31.61 lakh units in H1CY26.
- Hero’s sales grew 22.48% from 25.81 lakh units in H1CY25.
- Honda Motorcycle & Scooter India sold nearly 29.59 lakh units during H1CY26.
- Bajaj Auto remained significantly behind the three leading players.
New Delhi, August 15: India’s two-wheeler market is seeing an increasingly competitive race at the top, with TVS Motor significantly narrowing the gap with larger rivals Hero MotoCorp and Honda Motorcycle & Scooter India.
Data from the Society of Indian Automobile Manufacturers (SIAM) shows that TVS recorded the strongest growth among the leading players during the first half of calendar 2026.
TVS sold 2,265,240 units in H1CY26, registering 27.15% growth compared with 1,781,500 units in H1CY25.
TVS Gains Momentum
TVS Motor’s faster growth has strengthened its position in India’s competitive two-wheeler market.
The company increased sales by more than 4.8 lakh units compared with the first half of 2025, helping it reduce the distance from the market leaders.
The performance comes as consumers continue to demand motorcycles and scooters across different price segments, while manufacturers compete through new products, financing options and improved technology.
Hero MotoCorp Retains Lead
Hero MotoCorp continued to lead the market during the first half of 2026.
The company recorded sales of 3,161,788 units in H1CY26, compared with 2,581,549 units during H1CY25.
This represents growth of 22.48%.
Although Hero remained comfortably ahead of TVS in total volumes, TVS’s faster growth rate has reduced the gap between the two manufacturers.
The narrowing difference could make the competition for the top positions increasingly intense if the current growth trends continue.
Honda Maintains Strong Position
Honda Motorcycle & Scooter India also remained one of the country’s largest two-wheeler manufacturers.
The company sold 2,958,638 units in H1CY26, compared with 2,417,299 units in H1CY25.
Honda’s strong sales performance keeps it close to Hero MotoCorp while maintaining a significant lead over TVS in overall volumes.
The three companies are therefore emerging as the key players shaping the upper end of India’s two-wheeler market.
Bajaj Remains Further Behind
Bajaj Auto remained well behind the three leading manufacturers in the first half of the year.
The company recorded sales of 1,208,459 units in H1CY26, compared with 1,030,440 units in H1CY25.
While Bajaj also increased its sales, its overall volume remained considerably lower than Hero, Honda and TVS.
The gap highlights the growing concentration of India’s two-wheeler market among the three leading manufacturers.
Competition Intensifies
The latest sales figures point to an increasingly competitive two-wheeler industry in India.
Hero MotoCorp continues to hold the leadership position, while Honda remains a major challenger. TVS, however, is gaining ground at a faster pace and is increasingly becoming a serious competitor for the top two manufacturers.
TVS’s 27.15% growth compared with Hero’s 22.48% growth shows that the company is expanding its volumes at a faster rate.
If the trend continues, the gap between TVS and its larger rivals could narrow further in the coming periods.
Three-Way Race Takes Shape
India’s two-wheeler market is gradually developing into a stronger three-way competition between Hero MotoCorp, Honda Motorcycle & Scooter India and TVS Motor.
The first-half sales figures show that TVS is gaining momentum, while Hero continues to defend its leadership position and Honda maintains a strong second-place position.
With manufacturers continuing to invest in new models, technology and market expansion, competition for India’s massive two-wheeler customer base is expected to remain intense.
