September Auto Sales Updates: Hero MotoCorp Exports Fall 31%; TVS Motors Total Sales Rises 24%

• Nifty Auto is the worst performing sector this week, down nearly 6%
• Bajaj Auto and Uno Minda are the weekly worst performing stocks
• Bajaj Auto down nearly 11%, Uno Minda falls 8.7%

• Inventory of 17 days currently
• Looking to further scale up EV from January

• Highest H1 FY27 Export sales at 2.3 Lakh units up 12%
• Currently have 2 lakh pending bookings

Source: Media Brief

• Doing close to 56,000 SUVs a month now
• Cleaner fuels vehicles we have grown 46%
• Breeza bookings at 95,000 units
• Sold 25,000 vehicles of Baleno in first month of sales since launch

Source: Media Brief

• H1 FY27 Sales up 35% at 11 Lakh units
• Gained 220 bps market share

Source: Media Brief

• Highest ever domestic sales in a quarter up 38% at 5.56 Lakh units 
• Breaks record of Q3 FY26 sales - first quarter of GST Rate cuts

Hero MotoCorp Sales Performance September 2026 (YoY)

• Motorcycles Sales rises 6.3% at 6.66 lakh units.
• Scooters Sales rises 64.5% at 1 lakh units.
• Domestic Sales rises 14% at 7.4 lakh units.
• Exports Sales down 31% at 27,330 units.

TVS Motors Sales Performance September 2026

• Electric Vehicle: Two-wheeler EVs registered 110% increase in sales with 65,799 units in September 2026 as against 31,266 units in September 2025.
• International Business: Total International Business sales grew by 48% with sales of 180,700 units in September 2026 as against 122,108 units in September 2025. Two-wheelers sales registered a growth of 48% with sales of 163,882 units in September 2026 as against 110,644 units in September 2025.
• Three-Wheeler: Three-wheelers registered a growth of 57% with sales of 26,835 units in September 2026 as against 17,141 units in September 2025.

TVS Motor Company recorded 24% increase in sales with 672,790 units in September 2026 as against 541,064 units in September 2025.

• Total Sales up 24% At 6.72 lakh units YoY  
• Domestic 2W Sales up 17% At 4.82 lakh units YoY
• 2W EV Sales More Than Double To 65,799 units YoY
• Exports [GU] 48% At 1.80 lakh units YoY
• 3W Sales [GU] 57% At 26,835 Units YoY
   

• Global Demand Export expansion was led by increased international procurement of both steel and aluminium wheels.
• EV Transition: Growth in the 2&3 Wheeler category was primarily supported by rising electric vehicle demand.
• Forward Pipeline: A steady domestic oEM order book and early festive demand support stable momentum into the next quarter'
   

Steel Strips Wheels Ltd (SSWL) achieved its highest-ever monthly sales turnover by both value and volume in September 2026. Monthly net turnover rose 52.4% Year-on-Year (YoY) to Rs. 625.81 crore from Rs. 410.60 crore in September 2025.

Core Performance Metrics

• Gross Turnover: Reached Rs. 728.78 Cr, representing a 46.900/o YoY increase.
• Volume Expansion: Record total volume grew 27o/o YoY during the month.
• Product Mix: Value growth significantly outpaced volume growth, reflecting an higher-margin product mix.

Nishant Arya, Vice Chairman & MD, JBM Auto, said, "Our continued leadership in India’s electric bus market is a true reflection of the scale, depth and execution strength of the ecosystem we have built over the years. Our purpose-built born EV solutions offer innovation,
efficiency, safety and a passenger first approach. Aligned to out Net Zero 2040 commitment, our vision is to make every day travel cleaner, smarter and more accessible for people across the country."

JBM Auto registered the highest number of electric buses in September 2026 with 274 registrations with 33% market share, according to data from the Vahan portal.

The company also maintained its market leadership during H1FY26-27, registering 892 electric buses between April and September 2026, translating into a market share of approximately 24%, according to company's exchange filing.

Girish Wagh, MD & CEO, Tata Motors Ltd. sais, "In Q2 FY27, sales grew to 1,35,114 units, a strong 42.7% growth, taking H1 FY27 volumes to 2,43,602 units, up 35.1% yearon-year. Importantly, the growth registered during the quarter was broad-based, reflecting healthy demand across the economy."

"HCVs benefited from continued activity in core sectors, sustained infrastructure, construction and mining activity,  ILMCVs from e-commerce and FMCG, FMCD, and two-wheeler logistics, and SCVPU from consumption-led freight movements. Passenger transportation also maintained momentum, supported by last-mile mobility, government orders and growing intercity travel. Overall fleet utilisation levels were stable, indicating healthy underlying freight activity," he added.

• Domestic sales of MH&ICV in September 2026, was 22,616 units vs 15,669 units in Sept 2025 (44.3% YoY).
• In Q2 FY27 it was 55,582 units, compared to 41,461 units in Q2 FY26 (34.1% YoY).
• Domestic & International sales for MH&ICV in September 2026, was 23,910 units vs 16,759 units in September 2025 (42.7 % YoY) while in Q2 FY27 it stood at 59,194 units, vs 45,095 units in Q2 FY26 (31.3% YoY).
• EV volumes saw 2.4X YoY growth in Q2 FY27
   

Tata Motors CV Q2 FY27 sales in the domestic & international markets stood at 1,35,114 units, compared to 94,681 units during Q2 FY26. September 2026 sales in the domestic & international markets stood at 51,062 units, compared to 35,862 units during September 2025.

• Total Sales At 51,062 Units Vs estimate Of 44,500 Units 
• Total Sales up 42.4% At 51,062 Units YoY  
• Domestic Sales up 31.2% At 43,487 Units YoY  
• HCV Sales up 44% At 14,171 Units YoY  
• Intl Business At 7,575 Units Vs 2,714 Units YoY
   

Shailesh Chandra, MD and CEO, Tata Motors Passenger Vehicles Ltd. said, "For Tata Motors Passenger Vehicles, Q2 FY27 was our highest-ever quarter, with sales of 201,723 units and industry-beating growth of 40% year-on-year. We ended the quarter on a strong note, crossing the 70,000-unit sales milestone in September and look forward to carrying this momentum as we enter the festive period."

Tata Motors Passenger Vehicles Ltd. recorded sales of 201,723 units in the domestic and international markets in Q2 FY27, compared to 144,397 units in Q2 FY26, representing a robust growth of 40% year-on-year.

• Passenger Vehicles Sales At 70,210 Units Vs estimate of 66,667 Units  
• Total PV Sales up 15% At 70,210 Units YoY
• Domestic PV Sales up 15% At 68,810 Units YoY
• International PV Sales up 13% At 1,400 Units YoY
   

Maruti Suzuki's sales figures for September 2026 are given below:

In September 2026, Maruti Suzuki India Limited sold a total of 236,013 units. Total sales in the month include domestic sales of 185,252 units, sales to other OEM of 6,542 units and exports of 44,219 units

• Total Sales 2.36 lakh units Vs estimate of 2.38 lakh units
• Total Sales up 24% At 2.36 lakh units YoY  
• Exports up 5% At 44,219 Units YoY 
• Domestic Sales up 30% At 1.91 lakh units YoY  
• Passenger Car Sales up 24% At 91,887 Units YoY  
• LCV Sales up 18% At 3,414 Units YoY  
• Utility Vehicle Sales up 62% At 78,911 Units YoY
   

Ashok Leyland September Auto Sales

• Total Sales At 24,049 Units Vs Est Of 22,917 Units
• Total Sales up 28% At 24,049 Units YoY
• LCV Sales up 12% At 7,861 Units YoY
• M&HCV Sales up 37% At 16,188 Units YoY
   

Sales volume of VE Commercial Vehicles Limited, an unlisted subsidiary of Eicher Motors Limited for the month of September 2026 are as follows: 

• Total Sales At 11,396 Units Vs Est Of 9,125 Units 
• Total Sales up 49.6% At 11,396 Units YoY  
• Exports reduce 4.7% At 667 Units YoY  
• Domestic Sales up 57.5% At 10,479 Units YoY

Atul Auto three-wheeler vehicles sales performance figures of the company for the month of September 2026.

• Total Sales up 17.2% At 4,104 Units Vs 3,503 YoY
  

   

JSW MG Motor India said it has registered a 19% year-on-year (YoY) growth in wholesale dispatches to dealers at 8,018 units in September 2026. The performance reflects sustained consumer interest in the company's product portfolio, including the recently launched MG Hector Tomahawk EV and PHEV, it stated.

JSW MG Motor India has also commenced dispatches of the MG Hector Tomahawk EV to dealerships across India, with customer deliveries now underway, it added.

(Source: PTI)

B. Govindarajan, Managing Director, Eicher Motors Ltd. and Chief Executive Officer - Royal Enfield, said, "Building on our momentum this year, we achieved our highest-ever monthly dispatches in September 2026. As we enter the festive period, we are continuing solid business performance supported by key product interventions."

"Celebrating a decade of the Himalayan brand, we launched the Himalayan 440 earlier this month and witnessed overwhelming response from the community far exceeding our expectations. Our electric journey also saw a major milestone as the Flying Flea C6 entered Europe and the UK, starting with five major cities. On the culture front, our global community came together like never before, with a record 150,000 riders joining One Ride across the world in support of snow leopard conservation," he added.

Motorcycles sales data (units sold)

Royal Enfield achieved its highest-ever monthly sales of 1,33,958 motorcycles in September 2026, registering 8% growth over the same period last year.

• Royal Enfield Sales At 1.34 lakh Units Vs estimate Of 1.32 lakh Units
• Total Sales up 8% At 1.34 lakh Units YoY
• Domestic Sales up 7% At 1.21 lakh Units YoY
• Exports up 17% At 12,632 Units YoY 
   

V.S.T Tillers Tractors Ltd. September Business Update

• Total Sales up 33% At 5,954 Units YoY
• Power Weeder Sales Flat At 1,004 Units YoY
   

Tarun Garg, MD & CEO HMIL, said, "We are delighted to close September 2026 with our highest-ever total monthly sales of 77,916 units (domestic exports), registering a healthy double-digit growth of 10.8% YoY. This number surpasses our previous record achieved in July 2026.The well-rounded growth across domestic and exports markets is a testament to the strong appeal of our product portfolio and our commitment to delivering world-class mobility solutions in India and across global markets. Going ahead, we are expecting sustained customer enthusiasm during the festive season, also supported by the opening of bookings for the Hyundai BAYON, our upcoming all-new nameplate for India."
 

Hyundai Motor India Limited (HMIL) reported highest ever monthly total sales (domestic exports) since inception of 77,916 units in September 2026 with a robust YoY growth of 10.8%. This includes monthly domestic sales of 57,166 units ( 10.9% YoY) and exports of 20,750 units ( 10.4% YoY).

• Total Sales At 77,916 Units Vs estimate of 73,333 Units
• Total Sales up 10.8% At 77,916 Units YoY
• Domestic Sales up 10.9% At 57,166 Units YoY
• Exports up 10.4% At 20,750 Units YoY
   

Dr Velusamy R, President, Automotive Business, Mahindra & Mahindra Ltd., "In September, SUV sales clocked 64092 units with a growth of 14%, and total vehicle
sales stood at 114874, a 15% YoY growth. Adding to this momentum, we are proud to have crossed the milestone of 1 lakh billing of our Electric Origin SUVs since launch."
 

Mahindra & Mahindra Ltd. (M&M Ltd.) on Thursday announced that its overall auto sales for the month of September 2026 stood at 114874 vehicles, a growth of 15% including exports.

In the Utility Vehicles segment, Mahindra sold 64,092 vehicles in the domestic market, a growth of 14% and overall, 11,4874 vehicles, including exports. The domestic sales for Commercial Vehicles stood at 30,420 a growth of 14%.

• PV Sales At 64,092 Units Vs estimate of 63,333 Units
• Total PV Sales up 14% At 64,092 Units YoY 
• Total Sales up 15% At 1.14 Lk Units YoY
• Exports reduce 7% At 4,019 Units YoY
   

M&M September Tractor Sales

• Total Sales At 52,100 Units Vs estimate of 57,433 Units
• Total Sales reduced 21% At 52,100 Units YoY
• Domestic Sales reduced 23% At 50,208 Units YoY
• Exports growth 62% At 1,892 Units YoY

Tractor Sales down 21% vs expectation of 13% fall

Shares of Bajaj Auto Ltd. fell over 5% on Thursday with stock trading at Rs 10,315 apiece after the company announced September autos sales numbers. The stock opened 1.59 lower at Rs 10,701 and declined further to touch Rs 10,290 apiece at 9:28 am.

Bajaj Auto Share Price Today
Photo Credit: (Photo: NDTV Profit)

Escort Kubota Ttotal sales down 17% vs expectation of 8% fall.

• Total Sales At 15,214 Units Vs Est Of 16,700 Units
• Total Sales reduce 17% At 15,214 Units YoY 
• Domestic Sales reduce 16% At 14,911 Units YoY 
• Exports reduce 35% At 303 Units YoY

Escorty Kubota's domestic tractor sales in September 2026 were at 14,911 tractors as against 17,803 tractors in September 2025. 

In the regulatory filing, the company said that the September 2026 performance cannot be compared to the corresponding period last year, given the high base following the GST rate reduction in September 2025, shift in the festive season to October 2026, patchy monsoon conditions and relatively lower Kharif sowing. Looking ahead, festive demand, crop harvesting and improving rural liquidity are expected to support industry volumes. 

Bajaj Auto Limited Sales for the month of September are as follows:

• Total Sales up 5% At 5.38 lakh Units YoY  
• Exports up 32% At 2.43 lakh Units YoY  
• 3W Sales upc9% At 86,949 Units YoY  
• Domestic 2W Sales reduce 9% At 2.94 lakh Units YoY  
• 2W Exports up 34% At 2.11 lakh Units YoY 
• 3W Exports up 17% At 32,264 Units YoY 
• 2W Sales at 4.51 lakh Units Vs estimate Of 4.8 lakh Units

The projected sales growth was 11% to 12%; however, actual sales stood at 5%.

SML Mahindra sales figure for the month of September 2026 is given below:

SML Mahindra Sales Figures for the month of September 2026

• Total Sales up 18% At 1,124 Units YoY 
• PV Sales up 5% At 608 Units YoY
   

Brokerage on Auto Sector

• Norms favour EVs but concessions soften the transition ask 
• On current emissions, Tata and Maruti are best placed to meet the norms 
• Respite for M&M  and Hyundai due to lesser compliances 
• The final CAFE 3 norms remove an overhang that has weighed on the industry for the past couple of years 
• M&M is already ramping up its EV business with 12% of its SUV vols coming from E-SUVs 

Force Motors reported strong growth in domestic sales during September 2026, with sales of Small Commercial Vehicles (SCVs), Light Commercial Vehicles (LCVs), Utility Vehicles (UVs) and Sports Utility Vehicles (SUVs) rising 61.99% year-on-year to 4,027 units from 2,486 units in September 2025. 

Export sales, however, declined 40.32% to 74 units compared with 124 units in the corresponding month last year. 

As a result, total sales, including domestic and exports, increased 57.13% year-on-year to 4,101 units in September 2026, against 2,610 units sold in September 2025.
 

Monthly Business Updates for the month of September, 2026 by Force Motors Limited.

• Domestic Sales up 62% at 4,027 Units YoY
• Total Sales up 57.1% at 4,101 Units YoY
• Exports reduce 40% at 74 units YoY