Two-Wheeler Sales May 2026: Hero leads volumes, TVS and Bajaj beat Street estimates; RE almost meets mark

Two-Wheeler Sales May 2026: Two-wheeler makers staged robust growth in their monthly sales in May, riding on the back of healthy demand across segments while exports continued to be a key growth driver for some players. Hero MotoCorp, TVS Motor Company and Bajaj Auto reported strong growth in sales during May 2026, with most major manufacturers either beating or matching analysts' estimates. Demand remained healthy across motorcycles and scooters, while exports supported growth for some manufacturers

The four manufacturers are estimated to account for about two-thirds of the country's two-wheeler market.

Here's a lowdown on the monthly sales figures from major players:

Hero MotoCorp meets estimates with over 12% sales growth

Hero MotoCorp reported total sales of 5,70,068 units in May, marking a 12.3 per cent increase from 5,07,701 units sold during the corresponding period last year. The figure was in line with Zee Business's estimate of 5.7 lakh units.

Domestic sales rose 9.8 per cent to 5,36,784 units, while exports surged 77.9 per cent to 33,284 units.

Out of total sales, the motorcycle unit saw an increase of 6 per cent to 5,03,763 units sold during the month, whereas scooter sales more than doubled to 66,305 units from 32,537 units a year ago.

According to the company, domestic demand remained strong across key segments during the month.

Hero's global business maintained strong momentum. The auto maker attributed the performance to healthy demand across international markets, supported by its expanding premium product portfolio and ongoing market expansion efforts.

TVS Motor beats estimates with 31% jump in total sales

TVS Motor Company reported total sales of 5,66,585 units in May, up 31.4 per cent from 4,31,275 units a year ago. The figure comfortably exceeded the Zee Business estimate of 5,10,000 units.

Total two-wheeler sales grew 30.5 per cent to 5,43,111 units last month.

Motorcycle sales rose 29.5 per cent to 2,73,802 units, while scooter sales jumped 32.4 per cent to 2,20,740 units.

Bajaj Auto beats estimates on the back of strong exports

Bajaj Auto reported total sales of 4,61,257 units in May, up 19.9 per cent from 3,84,621 units a year ago. The figure was higher than the Zee Business estimate of 4,45,000 units.

The Pune-based company's total two-wheeler sales increased 18.3 per cent to 3,93,204 units from 3,32,370 units in the year-ago period.

Domestic two-wheeler sales grew 9.5 per cent to 2,09,528 units, while exports jumped 30.3 per cent to 1,83,676 units.

Royal Enfield sales growth at 15.4%, almost in line with estimates

Eicher Motors reported total Royal Enfield sales of 1,03,231 units in May 2026, up 15.4 per cent from 89,429 units in the corresponding month last year.

The figure, however, was marginally below Zee Business's estimate of 1,04,000 units.

Domestic sales rose 24.1 per cent to 94,115 units while exports declined 33 per cent to 9,116 units.

In the key 'up to 350cc' motorcycle segment, Royal Enfield sold 90,784 units in May, up 18.7 per cent over the previous year.

The company said it maintained growth momentum despite prevailing macroeconomic headwinds.