Commuter bike sales fall as premium bikes gain traction in Q1 FY2026

The Indian motorcycle industry has had a poor start to FY2026 with a sharp 9.2 percent year-on-year (YoY) decline in sales in the first quarter that ended in June. SIAM attributes this to inventory correction across the segment.

1. Sub-200cc bike segments see varying degrees of sales drop
2. TVS Ronin is seeing good sales growth after a slow start
3. Royal Enfield’s share rises to 95 percent in the 250-350cc space

Entry level bikes see sales drop as market trends change

Of the 12 motorcycle segments, six have registered a YoY sales decline

The frugal and hardy 100cc commuter bike segment is down 13 percent YoY with 13,06,541 units sold, a drop of 1,96,857 units. While Hero MotoCorp still leads (10,91,460 units; HF Deluxe, Passion and Splendor), it is down 8.63 percent YoY. Bajaj Auto (94,618 units; Platina 100) is down 24 percent, and Honda Motorcycle & Scooter India, with 49,318 units of the Shine 100, is down 55 percent.    

The 100-125cc executive commuter category, with 8.6 lakh factory dispatches, is down 6 percent (Q1 FY2025: 9,13,793 units). The decline could have been sharper if it weren’t for a good performance by Honda, which leads this category with sales of 4,32,580 units of the Shine 125 and SP 125 models, up 11 percent (Q1 FY2025: 3,87,832 units). However, both the No. 2 and No. 3 players here saw their numbers decline – Bajaj Auto (2,11,559 units, down 6 percent; various Pulsar 125 models and the Freedom CNG bike) and Hero MotoCorp (1,10,282 units, down 39 percent; Glamour, Super Splendor and Xtreme 125R).

Moving on from that, the 125-150cc bike segment saw the highest rate of sales decline: a substantial 37 percent to 1,10,299 units (Q1 FY2025: 1,74,934 units). Leader Bajaj Auto, with 47,054 units of its Pulsar models, is down sharply by 44 percent. Second-ranked Yamaha, with 37,228 FZs sold, is down by 7 percent, and Honda, with 26,017 units of the Unicorn, has seen a 49 percent drop.

As for the 150-200cc motorcycle segment, even though it has witnessed a decline, it is just 2 percent, with sales of 3,27,744 units. This is the result of a growing number of commuter bike buyers upgrading to this larger displacement category. The main beneficiary of this is TVS Motor, with its four Apache models spanning 160 to 200cc. With sales of 1,36,118 Apaches, up 13 percent, TVS commands a 41 percent share of this bike category. Bajaj Auto (74,431 units), comprising the Pulsar, Avenger and KTM models, witnessed a 14 percent YoY increase in bike dispatches.  

Third in this category is Honda, which sold 68,546 units (up 15 percent), with the likely bestseller being the SP160 and continued traction for the popular Hornet 2.0. Yamaha, with 36,467 units of the MT-15 and R15, has tanked 48 percent (Q1 FY2025: 69,945 units). Typically, the naked MT-15 regularly outsells the R15 sportbike owing to its lower price and more all-round capability.

Hero MotoCorp, which sold 8,834 units of the Xpulse 200 and Xtreme 160 models, has seen a 41 percent YoY drop (Q1 FY2025: 15,137 units), and Suzuki Motorcycle India, with 3,022 Gixxer 150 bikes, is down by 10 percent (Q1 FY2025: 3,371 units).

The 200-250cc category has registered sales of 38,157 units in Q1 FY2026, up 8 percent YoY from 35,197 units. This growth can be attributed to the strong demand for the TVS Ronin, which, with 14,530 units (up 157 percent), accounts for 38 percent of this sub-segment’s sales. The Ronin was off to a slow sales start, but the addition of refreshed colourways and more features on the lower variants seems to have helped its case.

This puts the TVS Ronin below the numerous Bajaj bikes (Pulsar, Dominar, Avenger, Husqvarna and KTM), which have collectively sold 21,513 units, down 17 percent YoY.

The 250-350cc category has done well – the 2,20,038 units sold here are up 13 percent YoY, and that’s thanks to the market leader Royal Enfield selling 2,08,659 units of its 350cc models, up 14 percent, and commanding a staggering 95 percent of the category’s total sales, up from the 94 percent in the year-ago period.

While Q1 FY2026 has proven to be tough for the bike industry, the industry body forecasts some growth in the latter half of the fiscal year. According to SIAM, “The overall industry outlook remains cautiously optimistic. While the challenges from Q1 may continue to linger in the near term, several positive macroeconomic and seasonal indicators could support a gradual recovery.”

These include the upcoming festive season, which typically serves as a demand driver, particularly for new two-wheelers, while the above-normal monsoon is likely to aid rural income recovery, which is especially important for entry-level vehicles that rely heavily on rural demand.

Also See: Honda Activa market share drops as TVS Jupiter sales increase in Q1 FY2026

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