India’s two-wheeler industry has seen a major reshuffle, with TVS Motor Company emerging as the country’s largest two-wheeler manufacturer in June 2026 by total global sales, overtaking long-time leaders Hero MotoCorp and Honda Motor Company.
The breakthrough has been driven not just by domestic demand, but by a sharp rise in exports and international market expansion.
Record global sales push TVS ahead
In June 2026, TVS sold 565,417 two-wheelers worldwide, marking a massive 47% year-on-year growth. In comparison, Hero MotoCorp sold 541,159 units, while Honda reported 528,281 units. This is the first time TVS has topped both rivals in overall monthly sales.
Exports become the game-changer
A major reason behind TVS’s rise is its fast-growing overseas business. The company exported 172,355 units in June alone, far exceeding the combined exports of Hero and Honda.
For comparison:
- Hero MotoCorp: 38,269 units
- Honda: 59,325 units
- Combined: 97,594 units
- TVS: 172,355 units
However, in pure export volume, Bajaj Auto still leads the Indian market with 222,439 units shipped abroad in the same period.
Strong international footprint
TVS now sells vehicles in over 90 countries, with key markets in Africa, Latin America, and Asia driving growth. According to company data, nearly 25% of its revenue in FY2025-26 came from international operations, highlighting its transformation from a domestic manufacturer into a global player.
Domestic market still led by rivals
Despite its global success, Hero MotoCorp continues to dominate India’s domestic market, followed by Honda. TVS ranks third domestically but has shown strong growth momentum in India as well, with a 46% rise in local sales.
A shift in industry power balance
TVS’s milestone signals a major shift in India’s auto industry—where global expansion and exports are becoming just as important as domestic demand. The company’s performance shows how Indian manufacturers are increasingly competing on a worldwide scale, not just at home.
