India’s electric two-wheeler sales jump 62% in January–September
India’s electric two-wheeler market recorded 15.61 लाख sales in January–September 2026, up about 62% year on year. TVS Motor, Bajaj Auto, Ather Energy and Hero MotoCorp held about 76% combined market share. September registrations reached 1.97 लाख, rising 7.7% from August.
Read the source at Business Today · LatestWhy it matters to operators and investors
Use the 62% sales growth and September’s 7.7% monthly registration rise to reassess electric two-wheeler inventory and service capacity against local brand demand.
What to watch next
- Monthly registrations holding above or falling below September’s 1.97 lakh.
- Changes in the leading manufacturers’ combined 76% market share.
- Dealer and service-network expansion announcements from TVS Motor and Bajaj Auto.
- New financing offers from Ather Energy or promotional campaigns from Hero MotoCorp.
- Higher selling expenses or weaker margins in manufacturers’ results.
The counter-case
A 62% volume increase does not establish profitable, durable demand. Growth could reflect a low comparison base, incentives or discounting, while September’s 7.7% sequential rise could be seasonal. The top four manufacturers’ 76% share may also mask weak performance across smaller brands.