Indian two-wheeler manufacturers TVS Motor Company and Hero MotoCorp reported strong sales performance in March 2026, driven by significant growth in electric vehicles and international exports. TVS Motor Company saw its electric vehicle (EV) sales climb by an impressive 44 percent, while Hero MotoCorp's exports surged by 16 percent during the month. These figures highlight a robust end to the fiscal year for both automotive giants.
TVS Motor Company Rides Electric Wave
TVS Motor Company recorded total sales of 519,358 units in March 2026. This marks a substantial 25 percent increase compared to the 414,687 units sold in March 2025.The company's electric vehicle segment was a key growth driver, with EV sales reaching 38,877 units in March 2026. This represents a 44 percent jump from the 26,935 units sold in the same month last year.[livemint+6]
TVS Motor Company's strong EV performance positioned it as a market leader. The company registered 49,453 EV units in March, demonstrating its dominance in the electric two-wheeler space.TVS delivered a record 49,304 e-scooters, including models like the X, iQube, and the new Orbiter. This specific e-scooter delivery figure shows a 60 percent year-on-year growth compared to March 2025.Overall, TVS commanded a 26 percent share of the electric two-wheeler market in March.[businesstoday+5]
Beyond electric vehicles, TVS Motor's two-wheeler sales also saw significant growth. Total two-wheeler sales increased by 25 percent, rising to 498,134 units in March 2026 from 400,120 units in March 2025.Domestic two-wheeler sales also grew by 25 percent, reaching 372,383 units.Motorcycle sales climbed 18 percent to 232,788 units, while scooter sales experienced an even stronger surge of 31 percent, totaling 217,624 units.The company's international business also performed well, with sales growing 25 percent to 141,443 units.Three-wheeler sales saw a robust 46 percent increase, reaching 21,224 units.[livemint+11]
Hero MotoCorp Sees Exports and Scooter Sales Soar
Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, reported an 8.84 percent increase in vehicle dispatches for March 2026. The company dispatched a total of 598,198 units, up from 549,604 units in March 2025.This strong performance was bolstered by a significant surge in exports and impressive growth in its scooter segment.[m+6]
Hero MotoCorp's exports saw a notable 16 percent increase, with 45,693 units dispatched in March 2026 compared to 39,518 units in March 2025.The company's global business achieved its highest-ever dispatches in March 2026, indicating strong international demand for its products.For the full fiscal year 2026, Hero MotoCorp's international business recorded an all-time high of approximately 40 percent dispatch growth, with 402,786 units dispatched.This growth was driven by strong demand for its premium motorcycle and scooter products across key international markets.[m+12]
Domestically, Hero MotoCorp's scooter sales experienced a remarkable 53.18 percent surge, reaching 65,815 units in March 2026 from 42,963 units in the previous year.Motorcycle sales also grew by 5 percent, with 532,383 units sold.The 100-125cc motorcycle segment continued to drive demand, supported by popular models like the Glamour and Xtreme ranges.Overall domestic dispatches for March 2026 were 552,505 units.Retail sales, measured by VAHAN registrations (excluding Telangana), showed a 24 percent year-on-year growth, reaching 542,436 units.[m+18]
Electric Two-Wheeler Market Reaches New Heights
The Indian electric two-wheeler industry as a whole achieved a new monthly sales record in March 2026. The sector registered close to 191,000 units, marking a handsome 45 percent year-on-year growth over March 2025.This surge reflects growing consumer acceptance and increased demand for electric mobility solutions. TVS Motor Company and Bajaj Auto continue to lead the electric two-wheeler market.[autocarindia+2]
Hero MotoCorp's electric vehicle brand, VIDA, also showed exceptional growth. VIDA recorded its highest-ever monthly VAHAN registrations in March 2026, with 21,434 units. This represents a substantial 70 percent month-on-month growth.For the full fiscal year 2026, VIDA's dispatches soared by 154 percent.This rapid expansion highlights the increasing consumer acceptance of Hero's electric scooters and the company's strengthening position in the EV segment.[ndtv+9]
The robust sales across the two-wheeler segment, especially in electric vehicles and exports, indicate a positive trend for the Indian automotive market as it closes the fiscal year. Companies are actively expanding their product portfolios and leveraging growing demand in both domestic and international markets. The extension of demand incentives under the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme until July also supported the strong sales in March.This continued government support, combined with new product launches and market expansion strategies, sets a promising outlook for the automotive sector in the coming months.[businesstoday+1]
