India’s two-wheeler industry posted strong growth in FY25, with total wholesale volumes reaching 1,88,77,812 units, a rise from 1,75,27,115 units in FY24. The uptick in demand was driven by growing consumer interest across both ICE and electric segments.
Hero MotoCorp concluded FY25 on a strong note, reinforcing its long-standing leadership in the two-wheeler segment. According to data released by the Federation of Automobile Dealers Associations (FADA), the company maintained its number one retail position for the 25th year in a row, retailing 54,45,251 units during the fiscal year and capturing a 28.84% market share, despite a marginal dip from 30.79% in FY24.
In March 2025 alone, Hero MotoCorp retailed 4,35,828 units, continuing its dominance in the domestic two-wheeler market.
It was followed by Honda Motorcycle and Scooter India, which saw a sharp rise in volumes to 47,89,283 units (25.37%), up from 40,93,895 units (23.36%) last fiscal.
TVS Motor Company continued its steady climb, selling 33,01,781 units (17.49%), while Bajaj Auto and Suzuki Motorcycle India rounded out the top five. Royal Enfield maintained a stable market share of 4.47%, and Yamaha saw slight growth in volumes.
Electric two-wheelers gain traction
The electric two-wheeler segment witnessed continued momentum. Ola Electric led the pack with 3,44,009 units (1.82%), followed by Ather Energy with 1,30,944 units (0.69%). Hero MotoCorp’s VIDA V2 electric scooter saw robust growth with wholesale dispatches crossing 58,000 units, marking a 200% year-on-year increase. Retail sales stood at 48,674 units, up 2.36% from FY24.Other EV players such as Greaves Electric Mobility also contributed to the category’s upward trend, even as electric still forms a small percentage of overall volumes.
FY25 vs FY24
While Hero MotoCorp retained leadership, its market share saw a slight contraction. In contrast, Honda, TVS, and Suzuki gained market share. Meanwhile, the ‘Others’ category, which includes smaller ICE and EV manufacturers, saw a decline in volume and share—from 1.06% in FY24 to 0.70% in FY25.
