GaadiWaadi –
According to VAHAN-based industry data, two-wheeler registrations touched 20.05 million – moving past the pre-Covid FY19 peak of 18.4 million
The two-wheeler space is headed for a record breaking close to FY26 with registrations crossing the 20 million milestone for the first time. According to VAHAN-based industry data, two-wheeler registrations touched 20.05 million – moving past the pre-Covid FY19 peak of 18.4 million and also exceeding the 18.3 million recorded in the whole of last FY.
Close watchers would have already realised that the market had already been building momentum – rising from 15.3 million units in CY2022 to more than 20 million units in CY2025 and bringing the industry back close to its earlier highs. Stronger disposable incomes in key regions, better monsoon support, easing stress in rural markets and stable borrowing conditions have all helped bring more consumers back into showrooms.
Scooters, in particular, have been a major contributor of this growth while commuter motorcycles have continued to draw in volumes. The domestic industry dispatches and retail momentum through FY26 showed demand improving steadily with rural and urban markets contributing significantly and festive buying adding more support. The final month of 2025 was especially strong for the overall market while the third quarter of FY26 also posted healthy growth.
Electric two-wheeler volumes have continued to rise but penetration is still modest relative to the size of the overall market. As of late FY26, EV penetration in the two-wheeler category was only a little above 6 per cent – showing that the transition is still at an early stage. It is a meaningful gain from where the segment stood a few years ago.
But it also shows that conventional petrol-powered scooters and motorcycles still dominate customer preference in most parts of the country. In the first half of FY26, electric two-wheeler registrations reportedly rose by about 18 per cent year-on-year to 5,82,027 units – up from 4,92,586 units in the same period last year. At the same time, supply-side issues such as rare-earth magnet shortages and competitive pressure among key brands have also made the market more volatile.
The bigger takeaway is that India’s two-wheeler market is firmly back in growth mode. Crossing 20 million registrations in FY26 points the finger at a full-scale recovery for one of the country’s most important consumer industries. Demand has consolidated, volumes have normalised and customer sentiment has improved enough as things stand.
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