India’s electric two-wheeler market is on a roll and how. While January-September 2026 retail sales have already crossed 1.61 million units, e-2-wheeler customer deliveries in April-September 2026 increased 76 percent to 11.2 lakh units (versus 6.40 lakh units same time last year). The rapid pace of demand means that the industry is predicted to end the financial year with 22.6 lakh total sales. September 2026 was also the first time the industry sold 2.07 lakh units (highest yet), which is an 89 percent increase compared to 2025.
- Besides the top-three, Bounce and River have improved the most
- Ola has held on to fifth place, but lost 9 percent of its market share
- September’s high sales numbers will likely be surpassed by the upcoming festive season
Indian e-2-wheeler industry sales: The trend so far
TVS and Bajaj continue to lead, with Vida steadily improving
TVS and Bajaj, which have been the top two brands since Ola moved out of the top spot in April 2025, continue to register handsome gains. In September, both companies registered triple-digit growth, which ensured that they make up a 49 percent share of the record monthly retails. This is the highest monthly sales for Bajaj, beating March 2026 (47,755 units). Ather, in the third position, sold 30,661 units and marked 56 percent YoY growth. March 2026 continues to be Ather’s best month, sales-wise (36,634 units) with the Konarc expected to contribute to that number substantially soon. Vida, backed by Hero, sold its highest ever 24,370 units in September, crossing July’s number (22,996).
Besides the top two, River and Bounce improved the most
Electric 2W market leader TVS nearly doubled its first-half retail sales YoY to 2.90 lakh units, giving it a 26 percent market share. For TVS, EVs are now a key growth driver and every fifth scooter the company sells is now a zero-emission model. Bajaj, which sells multiple variants of the Chetak, has retailed 2.53 lakh units in the past six months. The strong performance gives it a current market share of 23 percent. Ather, in third position, has clocked retail sales of 1.79 lakh units in H1 FY2027. Ather crossed the 30,000 mark in three of the past six months, June, July and September. Its H1 FY2027 market share is 16 percent, one percentage less than H1 FY2026. A few days ago, cumulative Ather sales surpassed 8 lakh units, making it the fourth company after Ola, TVS and Bajaj to achieve that milestone.
Fourth-ranked Vida registered retail sales of 1.23 lakh units in first-half FY2027, up 107 percent YoY. Ola remains glued to the fifth rank with an 8 percent market share, considerably down from the 17 percent it had in H1 FY2026. Greaves Electric Mobility (GEM), manufacturer of Ampere e-scooters, has sold 53,733 units, comes in at sixth with a 107 percent YoY growth.
The Bengaluru-based River, which continues to impress month on month, has sold 29,074 units in H1 FY2027. The stellar performance sees River’s market share rise to 3 percent from 1 percent in H1 FY2026. The startup’s highest monthly sales came in July (6,044 units). In eighth place, the Mumbai-based BGauss has sold 26,133 units in H1 FY2027, registering a 107 percent growth compared to H1 FY2026. Bounce ranks ninth with 8,772 units, up 246 percent YoY. Simple, which has been a regular in the monthly top 10 e-2-wheeler sales listing since February 2026, has clocked cumulative six-month sales of 8,668 units, up 181 percent YoY. This momentum comes just as Simple launched its most affordable scooter yet, the Wave, starting at Rs 1.10 lakh.
India’s e-2-wheeler market with 200 players, is the largest contributor to India’s EV sales numbers with a 62 percent share of the total EVs sold in the April-September 2026 period. The market is currently led by TVS, Bajaj, Ather, Vida, Ola and GEM – who account for 88 percent share of the e-2-wheeler sales in H1 FY2027. Given its robust 76 percent growth so far, and the festive season having just begun, one can expect September’s record 2.07 lakh unit sales to be surpassed soon.
With inputs from Stephen Raj Antony.
