India's two-wheeler industry grows 23% in July as Hero leads with 5,01,403 units, TVS surges 42%, Ather doubles volumes

India's two-wheeler industry experienced robust growth in July 2026, achieving a 22.6% year-on-year increase with total dispatches of 1,923,483 units. This marks a significant rise from 1,569,120 units in July 2025.

Leading the charge, Hero MotoCorp maintained its position as the largest manufacturer, dispatching 501,403 units, reflecting a 21.6% YoY growth from 412,397 units in July 2025. However, its sequential performance showed a slight decline of 0.3% from 502,890 units in June.²⁶⁷

In a remarkable performance, TVS Motor Company reported a 41.7% YoY growth, dispatching 437,394 two-wheelers compared to 308,720 units last year. This growth was complemented by a 6.4% month-on-month increase from 411,014 units in June, boosting its market share from 19.67% to 22.74%.³⁸

Electric two-wheeler manufacturer Ather Energy also showcased impressive growth, doubling its dispatches to 31,044 units from 15,096 units in July 2025. The trend towards electrification is evident, with River achieving a staggering 225.9% YoY growth, increasing from 1,853 units to 6,039 units.⁴⁵

Overall, the two-wheeler market's growth reflects a shift towards both traditional and electric vehicles, with significant contributions from major players and emerging manufacturers alike.