TVS Motor Company has reported its highest-ever annual performance for FY 2024-25, achieving total two-wheeler sales of 4.61 million units, a 14% year-on-year growth. Revenue stood at INR 36,309 crore, while profit before tax reached INR 3,629 crore underpinned by improved margins and strong consumer demand across segments.
In the domestic internal combustion engine (ICE) two-wheeler market, TVS registered a 9% sales growth to 3.25 million units, outperforming industry growth of 7%. Motorcycles accounted for 1.20 million units domestically, marginally down by 1.6%, but the premium motorcycle segment, led by the Apache series, grew 20.6% to 0.48 million units. The commuter segment faced a 12.4% decline at 0.72 million units. Scooters recorded 22.1% growth, with 1.54 million units sold, powered by the popularity of the refreshed Jupiter 110.
Electric Accelerates
The electric two-wheeler portfolio delivered its highest-ever sales at 2.8 lakh units, a 45% increase from last year driven by the iQube electric scooter. The iQube’s availability expanded to 1,074 dealerships, and the charging infrastructure grew to around 5,000 points. EV penetration in TVS’ overall sales is now firmly on an upward trajectory, supported by variants like the 2.2 kWh iQube that offers a 75 km real-world range.
Model Highlights
The Apache brand remains TVS’ flagship in the premium motorcycle space. The Apache RR 310 was updated with enhanced 38 PS power, a bi-directional quickshifter and segment-first features such as aerodynamic winglets and Race Tuned Dynamic Stability Control. The RTR 160 4V saw the addition of premium upside-down suspension and traction control. Scooters like the NTorq 125, refreshed with new colours and the Race XP variant, continued to appeal to younger riders.
In the commuter category, the Raider and Radeon were steady contributors, while mopeds like the XL100 retained rural market relevance. The Ronin 2025 edition expanded its mid-segment presence with improved safety features and dual-channel ABS in the mid-variant.
Exports
Two-wheeler exports surged 22.8% to 1.1 million units, supported by demand from Asia and Latin America. ICE two-wheeler sales, overall, grew by 12%, ahead of the 10% industry benchmark.
TVS’ strong portfolio refresh cycle and focus on premiumisation and electric mobility are expected to continue driving growth. New models, including the upcoming Norton motorcycles and an adventure tourer for India, along with investments in electric bicycles, are planned for FY 2025-26.
Also Read