In the two-wheeler segment, Indian companies like Hero MotoCorp, Honda Motorcycle, and TVS Motors are seeing significant year-over-year (YoY) growth. Hero MotoCorp led with a 30.5% YoY increase in sales, while TVS grew by 28%. Meanwhile, Bajaj Auto and Suzuki also saw gains close to 30%. On the EV front, Ola Electric continues to dominate with an 88% increase in sales​.
The passenger vehicle market also grew in the four-wheeler space, with a 19.3% YoY rise in retail sales. Leading manufacturers like Maruti Suzuki and Mahindra & Mahindra are capitalizing on the surge in SUV demand. Maruti increased its market share to 42%, while Mahindra’s share rose to 9.93%. Additionally, electric four-wheelers are seeing robust expansion, particularly in Tamil Nadu, which is emerging as a key EV production hub. Companies like Tata Motors and Hyundai are heavily investing in the state’s growing EV ecosystem.
This growth in both segments highlights the ongoing transition towards electric mobility, with both two- and four-wheeler manufacturers increasingly focusing on expanding their EV portfolios.
