ICE two-wheeler sales slide 8.6% MoM in May as EVs surge 62.5% YoY
India's two-wheeler market grew 7.4% YoY to 18.43 lakh units in May 2026, but the mix is breaking: ICE volumes fell 8.6% MoM while EVs hit 1.70 lakh units (9.2% penetration). Hero EV jumped 157% YoY, TVS led with 42,000 EV registrations, and Bajaj ICE slipped 7.5% YoY.
India two-wheeler sales grew 7.4% YoY in May 2026 but ICE volumes fell 8.6% MoM as EVs surged 62.5% YoY to 1.70 lakh units. Hero, Bajaj saw ICE weakness; TVS led EV transition with 42,000 registrations.
Also reported by
- The Hindu BusinessLine — 3h after first sighting