The two-wheeler industry in India is expected to sustain a steady volume growth rate of around seven to nine percent in FY2024-25 as far as the domestic market as well as the export markets are concerned. 

The growth in FY2024-25 is expected to be driven by higher electric vehicle (EV) penetration in the market, according to a report released by CareEdge Ratings. A big catalyst in higher EV penetration in the market is going to be the Electric Mobility Promotion Scheme 2024 (though only till July 2024 and likely to get an extension), expectation of interest rate cuts in second half of FY2024-25, strong demand for new model launches, recovery in exports from its low base of FY2023-24 and favourable monsoon which would improve rural consumer sentiment and income levels. 

Pointing out at a combination of factors behind the growth of two-wheelers in such as traction in EV volumes, wider range of models and new launches, the report highlights a robust double-digit growth pace in each of the two quarters that ended on March 2024 on a year-on-year basis in FY2023-24, the report states the restriction in the automotive segment growth in the first half of FY2023-24 was on account of the increase in vehicle prices post the implementation of the phase-II of the BS VI emission norms, higher interest rates and stressed rural incomes. Sales revived in the second half of the respective fiscal on the back of festive season demand and uptick in rural sentiments.

“Post-covid, sales volume of two-wheelers had consistently declined during FY20, FY21 and FY22 before starting to recover from FY23, with sales momentum continuing in FY24 as well. CareEdge Ratings anticipates two-wheeler sales volume growth to continue in FY25 and it would be more driven by improved domestic sales, higher EV sales, launch of CNG powered two-wheelers and good traction in executive and premium segment motorcycles.” said Hardik Shah, Director, CareEdge Ratings.

In FY2022-23, the Indian two-wheeler industry recorded sales of 19.51 million units, an eight percent growth compared to the previous fiscal year’s 18.01 million units. In FY2023-24, the industry continued its upward trajectory, achieving 9.8 percent growth with a total sales volume of 21.43 million units. However, this was still short of the peak sales volume recorded in FY19 when annual sales volume had reached 24.46 million units, as per the report.

In FY2023-24, the domestic two-wheeler industry witnessed total sales volume of 17.97 million units, reflecting a growth rate of 13 percent. Exports volume experienced a decline of five percent even though it recovered from the low of FY2022-23. The decline in exports was attributed to challenges in the African markets, which traditionally accounted for a significant portion of India’s two-wheeler exports. 

EVs propel two-wheeler growth 

The overall volume growth in FY2022-23 and FY2023-24 was supported by the increasing demand for electric two-wheelers, according to the CareEdge Ratings report. In FY2022-23, electric two-wheeler sales reached approximately 0.73 million units, accounting for 4.54 percent of total two-wheeler sales (compared to 1.87 percent in the previous year), reflecting a remarkable year-on-year growth of 188 percent albeit on a low base. 

Continuing the positive trend, electric two-wheeler sales grew by around 30 percent in FY2023-24 surpassing volume of 0.94 million units. The demand for electric two-wheelers is driven by a shift in consumer preferences towards options that offer lower fuel costs, reduced maintenance, and lower servicing requirements compared to internal combustion engine (ICE) models. The government’s FAME II programme – till FY2023-24 – has made EV ownership more affordable, thereby contributing to volume growth.

The Indian Government’s newly introduced Electric Mobility Promotion Scheme 2024 (EMPS 2024) has continued to bolster electric two-wheeler sales in FY2024-25 – that is until July 2024. Despite the higher initial cost of electric two-wheelers, consumers are increasingly making the switch to EVs, the report pin points.

Segment wise, motorcycles have consistently dominated the market, contributing to majority of the two-wheeler sales. Sales volumes of motorcycles grew by eight percent in FY2023-24 and that of scooters grew by 13 percent during the respective period. This segment-wise growth trend is expected to continue in FY2024-25. 

With motorcycles continuing to be popular due to their superior fuel efficiency, cost-effectiveness, and versatility, scooters have also gained traction among urban commuters. 

Image for representative purpose only.

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Suzuki Motorcycle India Pvt. Ltd. (SMIPL) has introduced the all-new second generation Burgman Street, a comprehensive evolution of its popular luxury scooter. Building on the strong market presence of the original model that launched in 2018, this updated version brings significant improvements in design, performance and features. The result is a fresher, more premium offering aimed at customers seeking a distinctive ride in the luxury scooter segment.

Since its debut seven years ago, the Burgman Street has consistently grown into one of the fastest-moving models within the 125-cc scooter category. The new model is built around a concept called ‘ONE & ONLY’, which blends premium maxi-style design, superior comfort and everyday practicality. This unique combination sets it apart from any other scooter in its class. Customers can choose between two variants: the Ride Connect Edition and the Ride Connect TFT Edition.

Urban comfort and handling have been prioritised through a lightweight yet rigid frame that improves manoeuvrability. A tuned suspension setup, long wheelbase and Combined Brake System ensure stable and well-balanced braking. The scooter also retains its spacious, well-padded long seat, flexible floorboard and dedicated front footboards, reinforcing its reputation as a practical yet premium daily rider.

The new Burgman Street showcases a ‘Sleek Modern’ design language that fuses sharpness with elegance. Curvaceous bodywork, split-lens LED headlights with integrated position lights, compact LED turn signals and an updated rear combination light create a distinctive road presence. Metallic emblems, a dark smoked windscreen and an upswept muffler add further premium appeal. Underneath, the proven 124-cc Suzuki Eco Performance engine delivers 6.2 kW power and 10.2 Nm torque with strong low to mid-range response.

Practical enhancements include a 5.5-litre fuel tank with a tail-mounted lid, redesigned grab bar, aluminium pillion footpegs and a larger 24.6-litre underseat storage compartment with front pockets, dual utility hooks and a USB outlet. Features like the Suzuki Easy Start System, side stand interlock and waterproof switches ensure daily reliability. The Ride Connect TFT Edition goes further with a 4.2-inch colour TFT screen, a keyless system and an answer-back function for added convenience and security.

The all-new Burgman Street will be available across all Suzuki Motorcycle India dealerships from 8 April 2026 onwards. The price and colour options are given below:

Kenichi Umeda, Managing Director, Suzuki Motorcycle India Pvt. Ltd., said, “When we launched the Burgman Street in India, it created a distinct space for itself in the luxury scooter segment. Over the years, it has received an encouraging response, with sales doubling over the past three years. We have seen that Burgman Street owners take pride in owning something different. Building on this insight, our engineers have developed the second generation with a focus on refined design, enhanced comfort and a more premium riding experience. This new model truly represents ‘ONE & ONLY’ – delivering a unique combination of design, comfort, balance and real-world usability that sets it apart in the segment. We are confident that the new Burgman Street will continue to strengthen this pride among our customers.”

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Suzuki Motorcycle India (SMIPL), the subsidiary of Suzuki Motor Corporation, has concluded FY2026 with total sales of 1.43 million units, which marks a 15 percent growth over 1.25 million units sold in FY2025.

This marks the highest annual sales for the company to date in the country.

In FY2026, domestic sales reached 1.17 million units, up 12 percent YoY, while exports grew by 26 percent, totalling 264,541 units. Additionally, spare parts sales generated revenue of INR 10,434 million, an 18 percent increase over the previous period.

In March 2026, Suzuki Motorcycle India recorded total sales of 128,227 units, compared to 126,164 units in March 2025. Monthly domestic sales stood at 105,397 units, while exports contributed 22,830 units. Domestic retail sales for the month rose to 108,661 units, reflecting an 11 percent growth.

During the year, the company surpassed cumulative production total of 10 million units in India. Commenced construction of a new manufacturing facility in Kharkhoda, Haryana. Launched the Suzuki e-Access, the company's first electric scooter. Introduced the Suzuki Access with ABS and the Ride Connect TFT Edition. And expanded its national reach to 1,240 outlets across all Indian states.

Deepak Mutreja, Vice-President – Sales & Marketing, Suzuki Motorcycle India, said, “FY 2025-26 has been a landmark year for Suzuki Motorcycle India, with our highest-ever sales performance reflecting sustained momentum across both domestic and export markets. This achievement is driven by the strong trust our customers place in the brand and the consistent efforts of our dealer partners and teams across the country. The encouraging performance in exports further reinforces our growing global relevance. As we move ahead, we will continue to focus on delivering products and experiences that resonate with evolving customer aspirations.”

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Hero MotoCorp, the world’s largest two-wheeler manufacturer, has announced its wholesales for FY2026 with total dispatches of 6.5 million units, which marks a 10 percent growth. This includes 6.06 million units sold in the domestic market and 402,786 units exported.

In March 2026, the company dispatched 598,198 units, compared to 549,604 units in the same month of the previous year. Retail performance for the month reached 542,436 VAHAN registrations, indicating an increase of approximately 24 percent.

Growth in March was led by the 100-125cc motorcycle segment and double-digit growth in scooters. The internal combustion engine (ICE) scooter segment grew by 24 percent, supported by the expansion of the Glamour and Xtreme motorcycle ranges. Demand in rural markets improved, aided by early festive trends.

For FY2026, motorcycle sales grew from 5.47 million units to 5.84 million units, scooters from 422,692 units to 626,285 units.

Vida, the company's electric vehicle (EV) brand, recorded its highest monthly VAHAN registrations to date at 21,434 units, a MoM increase of approximately 70 percent. For the full financial year, VIDA dispatches grew by 154 percent. The brand also introduced the VX2 Plus - KKR Limited Edition as part of its partnership with the Kolkata Knight Riders.

In international markets, the global business division recorded its highest-ever dispatches. March 2026 exports rose by 16 percent to 45,693 units, contributing to a total fiscal year dispatch growth of approximately 40 percent.

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Chennai-based mid-sized motorcycle manufacturer Royal Enfield has achieved its highest annual sales to date, surpassing 1.2 million units in the financial year ending 31 March 2026. This marks the second consecutive year the company has exceeded the million-unit threshold.

The company concluded FY2026 with total sales of 1.23 million units, representing a 23 percent increase from FY2025. Domestic sales came at 1.10 million units, up 23 percent YoY, while exports came at 131,316 units, up 23 percent YoY.

Royal Enfield sold 112,334 units last month, an 11 percent rise over the same month last year.

The performance was supported by demand in domestic and international markets and a diverse motorcycle portfolio.

Going forward, Royal Enfield is expanding its manufacturing facility at Cheyyar to support future growth and maintain production efficiency. The company's international strategy includes deepening its presence in markets such as Brazil.

The upcoming financial year will involve the introduction of new platforms and product launches, including the Flying Flea C6. These initiatives coincide with the brand's 125th anniversary.

B Govindarajan, Managing Director, Eicher Motors and CEO, Royal Enfield, said, “Every year at Royal Enfield, we try to raise the bar a little higher than before, and this time was no different. We delivered our second consecutive year of over one million motorcycle sales, crossing 1.2 million units, our highest-ever annual performance. Achieving this milestone as we celebrate 125 years of Pure Motorcycling makes it even more meaningful. But in this landmark moment, we are not pausing to look back, instead we are focused on how we can continue to build motorcycles for the current and next generation of riders while remaining grounded in our ethos. This year we also achieved our best-ever festive season sales and highest-ever volumes across both domestic and international markets. Our international business continues to be a focus area and we are deepening our presence in high-potential markets such as Brazil. Equally important is the strength of our riding community, which continues to grow with our rider engagements and festivals expanding significantly across regions. We are also investing in staying ahead of the curve by expanding our manufacturing facility at Cheyyar, which will support future growth while maintaining our focus on quality and efficiency. As we move into the new financial year and continue our 125th year journey, we remain focused on the future with new product launches, new platforms and the launch of the Flying Flea C6. Our endeavour is simple: to keep growing in a way that stays true to who we are as we build a global motorcycling brand from India.”

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