TVS Motor Company achieved a significant milestone in October 2025, recording its highest-ever domestic two-wheeler wholesales while simultaneously setting a new benchmark for motorcycle shipments to the Indian market. This accomplishment comes as the Chennai-based manufacturer continues to consolidate its position as India’s third-largest two-wheeler maker, demonstrating resilience in a competitive marketplace.
The company’s domestic two-wheeler sales grew 12% to 4.13 lakh units (413,000 units) in October 2025, marking a new peak for the company’s domestic market wholesales and underscoring strong dealer network confidence and festive season demand. This performance significantly surpasses the previous year’s October 2024 figure of 390,489 units, representing sustained momentum in India’s two-wheeler market.
Motorcycles Lead the Charge
The star performer in TVS’s October portfolio was undoubtedly the motorcycle segment, which achieved its highest-ever domestic market shipments. Total motorcycle sales grew 9% to 2.50 lakh units (250,000 units), establishing a new record for the company in this crucial segment. This segment now commands approximately 61% of TVS’s domestic two-wheeler sales mix, signaling the company’s strengthening position in the motorcycle market.
The 9% year-on-year growth in motorcycles demonstrates sustained demand across TVS’s diverse portfolio, which includes popular models such as the Apache series, Raider, Ronin, Radeon, and Star City Plus. The motorcycle segment’s performance reflects effective product positioning and brand resonance with consumers seeking both performance and value.
Compared to October 2024’s motorcycle sales of 230,822 units, the October 2025 figure of 250,000 units represents a substantial increase of approximately 8.3%, validating the company’s product strategy and market execution over the past year.
Scooters: A Tale of Two Comparisons
The scooter segment presents a more nuanced picture, revealing the complexity of market dynamics. Scooters emerged as the primary growth driver in October 2025, posting a strong 17% increase to 2.19 lakh units (219,000 units). This robust performance outpaced the motorcycle segment’s 9% growth, highlighting the continued premiumization and urbanization trends in India’s two-wheeler market.
The scooter segment now accounts for approximately 53% of TVS’s total two-wheeler sales, reflecting the growing consumer preference for convenient mobility solutions. The company’s flagship scooter models – the Jupiter, NTorq 125, and the electric iQube – have collectively driven this impressive year-on-year performance.
When comparing to October 2024’s scooter sales of 193,439 units, the October 2025 figure of 219,000 units represents a healthy increase of approximately 13.2% year-on-year. This validates TVS’s strategic emphasis on the scooter category and the company’s belief that scooters would continue gaining share in India’s two-wheeler industry.
However, when examining month-on-month trends from September 2025, the scooter segment showed sequential softness. While precise September 2025 figures weren’t disclosed, this month-on-month dip came after the typical pre-festive buildup in September, representing a normalization rather than a concerning trend reversal.
The scooter segment’s 17% year-on-year growth significantly outpaces the motorcycle segment, indicating that TVS’s product strategy and portfolio refresh in this category is resonating strongly with consumers. The company’s investment of Rs 150 crore in a new scooter platform and continued electric vehicle push appear to be yielding positive results.
Export Performance Strengthens
The export segment also contributed positively to October 2025’s performance. Two-wheeler exports rose 8% to 1.11 lakh units (111,000 units), demonstrating TVS’s growing international footprint and successful penetration of overseas markets.
This export growth of 8%, while more modest than the 12% domestic growth, indicates balanced expansion across both domestic and international markets. The company’s focus on key export destinations in Africa, Latin America, and Southeast Asia continues to provide revenue diversification and reduces dependence on the domestic market alone.
Strategic Implications and Market Positioning
TVS Motor’s October 2025 performance carries several strategic implications. The record domestic two-wheeler wholesales validate the company’s diversified product strategy across both motorcycles and scooters. The 12% overall domestic growth, driven by 17% scooter growth and 9% motorcycle growth, demonstrates balanced strength across the portfolio.
The fact that scooters outpaced motorcycles in growth rate (17% vs 9%) confirms the relevance of TVS’s scooter-focused investments and validates management’s strategic emphasis on this segment. The scooter segment’s growing share of the sales mix – now comprising 53% of total two-wheeler sales – marks a significant shift in TVS’s business composition.
The company’s ability to achieve record wholesales during the festive season demonstrates effective inventory management, dealer network alignment, and strong consumer pull. The simultaneous growth in exports (8%) alongside robust domestic expansion (12%) showcases TVS’s ability to compete effectively in multiple markets.
Year-on-Year Comparison: Sustained Growth Trajectory
Comparing October 2025 with October 2024 reveals sustained growth momentum:
- Total Domestic Two-Wheelers: Up from 390,489 units (Oct 2024) to 413,000 units (Oct 2025) – approximately 5.8% growth
- Motorcycles: Up from 230,822 units (Oct 2024) to 250,000 units (Oct 2025) – approximately 8.3% growth
- Scooters: Up from 193,439 units (Oct 2024) to 219,000 units (Oct 2025) – approximately 13.2% growth
These year-on-year comparisons demonstrate that while both segments grew, scooters showed significantly stronger momentum, reinforcing the segment’s role as the primary growth engine for TVS Motor.
September 2025: A Precursor to October’s Success
The October 2025 performance built upon strong momentum from the previous month. In September 2025, domestic two-wheeler sales grew 12% to 4.13 lakh units, while exports rose 8% to 1.11 lakh units. Within the segment, scooters emerged as the primary growth driver, posting a 17% increase to 2.19 lakh units, outpacing motorcycles, which grew 9% to 2.50 lakh units.
This September pattern of scooters outpacing motorcycles in growth rate continued to define TVS’s market trajectory, validating the company’s strategic focus on the scooter segment and demonstrating consistent execution across consecutive months.
Electric Mobility and Future Outlook
While specific electric vehicle numbers for October 2025 weren’t disclosed, TVS’s electric scooter portfolio, led by the iQube, continues to be a focus area. The company’s position as India’s second-largest electric two-wheeler manufacturer and its continued investments in EV infrastructure suggest that electric mobility remains a key growth pillar.
Looking ahead, TVS’s diversified portfolio across motorcycles, scooters, mopeds, and electric vehicles positions it well to capitalize on evolving consumer preferences. The company’s stated ambition of growing faster than the industry in the scooter segment appears well-founded based on the 17% growth achieved in October 2025.
Conclusion
October 2025 will be remembered as another milestone month for TVS Motor Company. The simultaneous achievement of record domestic two-wheeler wholesales (4.13 lakh units), highest-ever motorcycle shipments (2.50 lakh units), and strong scooter growth (2.19 lakh units, up 17%) demonstrates the company’s comprehensive market strength.
The performance is particularly impressive given that it builds upon the strong base established in October 2024. The 12% domestic growth, driven by scooters outpacing motorcycles, validates TVS’s strategic portfolio decisions and investments in product development.
As India’s two-wheeler industry continues its evolution, TVS Motor’s balanced growth across segments, combined with export expansion and electric vehicle focus, positions the company favorably for sustained long-term growth. The key challenge ahead will be maintaining this momentum through the remainder of the festive season and converting wholesale success into sustained retail demand.