FADA: two-wheeler retail sales fall 28.35% to 23.21 lakh in October

Two wheeler retail registrations in India fell 28.35 percent year on year in October 2026, to 23,21,419 units, according to data released by the Federation of Automobile Dealers Associations on November 6. A year earlier, dealers had retailed 32,39,949 two wheelers in the same month.

Why the fall looks worse than it is

The drop is mostly a calendar effect, not a demand collapse. In October 2025, both Navratri and Diwali fell within the month, and buyers had also rushed to beat the GST 2.0 rate cut that came into effect on September 22, 2025. This year Navratri fell in October but Dhanteras and Diwali moved to November, so a chunk of festive buying that showed up in last October's number will instead show up in November 2026's.

That shows up clearly against September. Retail sales were up 29.67 percent month on month, from 17,90,188 units in September to 23,21,419 units in October. FADA has called October 2026 the second best October the two wheeler industry has recorded.

Rural and urban markets did not fall equally. Rural registrations dropped 33.97 percent year on year and still held 52.9 percent of the market. Urban registrations fell a smaller 20.77 percent and held 47.1 percent.

Who topped the retail chart

Honda Motorcycle and Scooter India led all manufacturers in October with 6,37,630 units retailed, a 27.47 percent market share, down 25.06 percent year on year. Hero MotoCorp was second with 5,98,433 units and a 25.78 percent share, but its year on year fall was steeper at 40.56 percent. TVS Motor Company followed with 4,58,303 units, down 19.92 percent, for a 19.74 percent share.

Bajaj Auto retailed 2,09,634 units, down 37.46 percent. Royal Enfield sold 1,23,982 units, down 19.8 percent, for a 5.34 percent share. Suzuki Motorcycle India retailed 1,20,931 units, down 14.9 percent, the smallest fall among the top seven brands. India Yamaha Motor closed the group with 79,001 units, down 16.6 percent.

Electric two wheelers keep gaining ground

Electric two wheelers were the one segment that grew its share through the slowdown. EVs made up 9.65 percent of two wheeler retail in October 2026, against 4.66 percent in October 2025, even though that share was lower than September's 11.58 percent.

Ather Energy, the Bengaluru based scooter maker, retailed 31,833 units, taking its market share to 1.37 percent from 0.93 percent a year ago. Ola Electric retailed 12,098 units for a 0.52 percent share.

For an Indian two wheeler buyer, the headline fall is less alarming than it reads. It reflects when Diwali landed on the calendar, not a sudden drop in appetite for new bikes and scooters. Dealers will be watching November's FADA numbers, when this year's Dhanteras and Diwali purchases are expected to land, before drawing conclusions about the state of demand going into 2027.

Sources

• Two-Wheeler Retail Sales Fall 28.35% To 23.21 Lakh In October: FADA
• Two-Wheeler Retail Sales Fall 28.35% To 23.21 Lakh Units In October 2026
• FADA Releases Oct'26 Vehicle Retail Data
• India's two-wheeler retail sales fall 28.35% in October despite monthly recovery