New Delhi, Oct. 28 -- Motorcycle makers are opening up a clear lead over passenger vehicle manufacturers this earnings season, helped by strong export demand and resilient domestic sales that have cushioned the impact of rising input costs.

Two-wheeler companies have delivered far stronger earnings than carmakers. TVS Motor reported a 47% rise in September-quarter profit, while Hero MotoCorp posted a 41% increase, joining Bajaj Auto in reporting robust growth despite higher commodity prices linked to tensions in West Asia.

The contrast with the passenger vehicle segment has been stark. Maruti Suzuki and Hyundai Motor India both reported profit declines amid slowing demand and margin pressure.

Industry executives attributed the stronger...