TVS Motor vs Bajaj Auto: Who Delivered Better Growth In June Sales?

TVS Motor and Bajaj Auto both reported strong sales numbers for June 2026. TVS Motor’s total sales grew 47% year-on-year, while Bajaj Auto’s total sales grew 28% year-on-year.

On the surface, TVS clearly grew faster. But Bajaj’s 28% growth is also not weak. So, the better way to compare the two companies is not just by looking at total growth. We need to see where the growth came from.

Both companies operate across two-wheelers, exports and three-wheelers or commercial vehicles. TVS also gives a clear EV two-wheeler number, which adds another angle to the comparison. So, let’s compare the numbers segment by segment.

TVS Motor vs Bajaj Auto: June Sales Snapshot

Two-Wheelers: TVS Had The Clear Lead

The two-wheeler segment is the biggest part of the story for both companies.

TVS Motor sold 5.65 lakh two-wheelers in June 2026, up 47% year-on-year. Bajaj Auto sold 3.89 lakh two-wheelers, up 30% year-on-year.

So, Bajaj’s two-wheeler growth was strong, but TVS grew faster.

The gap becomes sharper when we look at domestic two-wheelers. TVS domestic two-wheeler sales grew 46% year-on-year to 4.11 lakh units. Bajaj’s domestic two-wheeler sales grew 12% year-on-year to 1.67 lakh units.

This is an important difference. TVS had much stronger India-led momentum in June. Its growth was not just driven by exports. It also saw strong domestic demand across scooters, motorcycles and EVs.

Scooters, Motorcycles And EVs: TVS Had Better Growth Breadth

TVS’s two-wheeler growth was not dependent on only one product category.

Its motorcycle sales grew 42% year-on-year, while scooter sales grew 53%. This shows that the company saw strong traction in both key categories.

The EV number was even stronger. TVS sold 48,537 electric two-wheelers in June 2026, compared with 14,400 units in June 2025. That means EV sales more than tripled year-on-year.

This gives TVS a clear edge in the June comparison because its growth was broad-based. It had strong domestic growth, scooter growth, motorcycle growth and EV growth at the same time.

Bajaj Auto also has the Chetak electric scooter, but its June sales release does not separately break out EV sales. So, based on disclosed monthly numbers, TVS has the clearer EV story.

Exports: Bajaj Auto’s Biggest Strength

This is where Bajaj Auto still looks very strong.

Bajaj Auto exported 2.53 lakh units in June 2026, up 47% year-on-year. TVS Motor’s international business stood at 1.72 lakh units, also up 47% year-on-year.

So, both companies grew exports at a similar pace. But Bajaj did it on a much bigger base.

This matters because Bajaj Auto is not just a domestic two-wheeler company. Exports are a major part of its business. In June, exports formed more than half of Bajaj Auto’s total sales.

That makes Bajaj’s 28% overall growth more impressive than it looks at first. The company is already operating on a large base, and still managed strong export-led growth.

Three-Wheelers And Commercial Vehicles: Bajaj Was Larger, TVS Grew Faster

The three-wheeler and commercial vehicle segment also shows a similar pattern.

TVS Motor sold 24,586 three-wheelers in June 2026, up 51% year-on-year. Bajaj Auto sold 73,807 commercial vehicles, up 18% year-on-year.

So, TVS grew much faster in percentage terms. But Bajaj’s base was almost three times larger.

This is why the comparison needs balance. TVS had better growth momentum, but Bajaj remains much larger in this segment. For Bajaj, commercial vehicles continue to be an important business line, especially when combined with its export strength.

So, Who Delivered Better Growth?

TVS Motor delivered better growth in June 2026.

It grew faster in total sales, two-wheelers, domestic two-wheelers, scooters, motorcycles, EVs and three-wheelers. More importantly, its growth was spread across many segments. That makes the June performance look broad-based.

But Bajaj Auto also had a strong month. A 28% growth rate on a total base of 4.63 lakh units is not small. The company’s export business remained strong, and its export volume was much higher than TVS.

So, the right conclusion is not that Bajaj had a weak month. The right conclusion is that TVS had a stronger month.

TVS won on growth speed and growth breadth. Bajaj won on export scale and commercial vehicle size.

What Should Investors Watch Next?

For TVS Motor, the key question is whether this strong growth can continue. Investors should watch domestic two-wheeler demand, scooter growth, EV sales and export momentum in the coming months.

For Bajaj Auto, the biggest monitorable is domestic two-wheeler growth. Exports are already strong, but a stronger domestic recovery would make its growth story more balanced.

Investors should also watch margins for both companies. Sales growth is useful, but the final impact on earnings will depend on product mix, EV profitability, export realizations and input costs.

Author’s Take

TVS Motor delivered the better June sales performance. Its growth was faster and more broad-based across two-wheelers, domestic sales, EVs, exports and three-wheelers.

But Bajaj Auto’s numbers were also strong. The company grew 28% year-on-year on a large base, and its export business remained much bigger than TVS.

So, for June 2026, TVS Motor looks like the better growth story. Bajaj Auto remains the stronger export-scale story. For investors, the next few months will show whether TVS can sustain this broad-based momentum and whether Bajaj can improve domestic growth while keeping exports strong.