TVS Motor led electric two-wheeler sales in October 2026, with the retail figure rising 94.7 per cent year on year. Overall EV sales grew 48.5 per cent, but EV penetration slipped month on month.
- TVS e2W sales up 94.7 per cent year on year
- Bajaj second with 49,126 units
- Ola Electric down 26.4 per cent year on year
TVS leads, Ola sales continue to decline
Four of the top five brands grew year on year
Total electric two-wheeler retail sales in October 2026 were 2,24,064 units, 48.5 per cent more than last October. TVS (60,490 units) was ahead of Bajaj (49,126 units), whose sales rose 51.3 per cent. Ather sold 31,833 units, up by a relatively humble 5.3 per cent, while Hero MotoCorp grew by a substantial 81.4 per cent to 29,923 units.
Ola Electric was the only brand among the top five to lose sales, with 12,098 units, down 26.4 per cent year on year and 10.1 per cent lower than in September 2026.
On the other hand, EVs made up 9.7 per cent of two-wheeler retail sales in October 2026, down from 11.6 per cent in September. This is likely because of the Diwali calendar shift. Diwali fell in October in 2025 but falls in November this year, so a large share of festive-season buying has moved out of October.
With input from Dev Vadchhedia
Suraj Sreekumar
Stephen Raj Antony
Dinshaw Magol
