TVS Motor Gains Market Share in FY26 with Strong Scooter and Three-Wheeler Growth

TVS Motor Company increased its retail market share to 18.89% in FY26, selling 40,46,666 units. This marks a rise from 17.49% and 33,03,633 units in FY25, representing a 22.5% growth rate. TVS outpaced the overall two-wheeler industry, which grew by 13.40% during the same period. Scooters, electric vehicles, and three-wheelers drove this expansion.

Sales Summary

Key Highlights

• TVS Motor's retail share rose to 18.89 percent in FY26 with 40,46,666 units sold
• Scooters led growth with Jupiter consistently crossing 1 lakh units monthly in FY26
• Three-wheeler sales more than doubled to 55,488 units raising TVS's share to 4.07 percent
• TVS widened its lead over Bajaj Auto and maintained strong growth in motorcycles and mopeds
• CNG vehicle share reached 21.98 percent and tractor sales hit a record 10 lakh units

TVS Market Performance

In March 2026, TVS retailed 3,74,602 units, achieving a 19.20% market share. This was a 35.6% year-on-year increase from 2,76,276 units and an 18.22% share in March 2025. The company's growth covered scooters, motorcycles, mopeds, and electric vehicles. This broad-based performance distinguishes TVS from competitors who usually lead in fewer segments.

The scooter segment led TVS's growth. The Jupiter, India's second-best-selling scooter, consistently exceeded 1 lakh units monthly in the second half of FY26. January saw 1,29,744 units and February 1,27,089 units sold. The Ntorq scooter posted over 50% year-on-year growth in several months. The iQube electric scooter was among TVS's fastest-growing products, with 38,054 units sold in February, marking 61% year-on-year growth.

By February 2026, scooters made up 56.43% of TVS's domestic volumes. The addition of the Orbiter EV further strengthened the electric scooter portfolio.

Motorcycle and Three-Wheeler Growth

TVS's motorcycle range also performed strongly. The Apache series maintained double-digit growth throughout the year. The Raider, an entry-sport commuter, recorded consistent 25-30% year-on-year gains. The Ronin, a modern-classic motorcycle, more than doubled its volumes in several months. The new RTX300 added a premium option to the lineup.

The XL moped accounted for 12% of TVS's volumes. Its year-on-year growth turned positive in the second half of FY26 as rural demand increased following GST 2.0 reforms.

TVS saw a significant increase in three-wheeler sales. According to FADA data, the company sold 55,488 three-wheelers in FY26, up from 25,882 units in FY25. This 114% increase raised TVS's three-wheeler market share from 2.12% to 4.07%. TVS became the fastest-growing three-wheeler manufacturer by share gain, signaling a strong push into commercial mobility.

Industry Context and Competitive Position

TVS now holds the third-largest share among two-wheeler manufacturers in India. It has widened its lead over Bajaj Auto, which holds a 10.50% share, down from 11.41%. Honda remains second with a 25.03% share. TVS's strategy covers ICE scooters, ICE motorcycles, electric scooters, and three-wheelers, providing flexibility across segments.

In FY26, CNG vehicle share rose to 21.98%, surpassing diesel and outpacing electric vehicles. Mahindra climbed to second place in the passenger vehicle market with an SUV-only lineup. Tata held third, and Hyundai slipped to fourth. Tractor sales reached a record 10 lakh units, supported by favorable monsoon conditions, strong rabi sowing, and rising farm incomes.