TVS Motor Sees Highest Ever Motorcycle Wholesales in India in October, Scooter Sees MoM Decline

TVS Motor Company achieved a significant milestone in October 2025, recording its highest-ever monthly sales of 543,557 units while simultaneously setting new benchmarks across multiple segments. 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 8% to 4.22 lakh units (421,631 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 16% to 2.67 lakh units (266,715 units), establishing a new record for the company in this crucial segment. This segment now commands approximately 63% of TVS's domestic two-wheeler sales mix, signaling the company's strengthening position in the motorcycle market.

The 16% 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 266,715 units represents a substantial increase of approximately 15.6%, validating the company's product strategy and market execution over the past year.

Scooters: Steady Growth Continues

The scooter segment presents a more nuanced picture, revealing the complexity of market dynamics. Scooters posted a solid 7% increase to 2.06 lakh units (205,919 units) in October 2025, demonstrating continued relevance in India's two-wheeler market despite growing at a slower pace than motorcycles.

The scooter segment now accounts for approximately 39% of TVS's domestic two-wheeler sales, reflecting the established consumer preference for convenient mobility solutions. The company's flagship scooter models – the Jupiter, NTorq 125, and the electric iQube – have collectively driven this steady year-on-year performance.

When comparing to October 2024's scooter sales of 193,439 units, the October 2025 figure of 205,919 units represents a healthy increase of approximately 6.4% 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.

The scooter segment's 7% year-on-year growth, while positive, was outpaced by the motorcycle segment's 16% growth. However, this still indicates that TVS's product strategy and portfolio refresh in this category continues to resonate with consumers. The company's investment of Rs 150 crore in a new scooter platform and continued electric vehicle push appear to be yielding steady results.

Electric Vehicle Performance

The electric vehicle segment registered strong growth of 11%, with sales increasing from 29,308 units in October 2024 to 32,387 units in October 2025. While retail demand continues to be robust, magnet availability continues to pose challenges in the short to medium term, according to the company's official statement.

Export Performance Strengthens Significantly

The international business segment showed exceptional performance in October 2025. The company's total international business registered a growth of 21%, with sales increasing from 95,708 units in October 2024 to 115,806 units in October 2025. Within this, two-wheeler exports rose 18% to 103,519 units (from 87,670 units in October 2024).

This export growth of 18-21%, significantly outpacing the 8% domestic growth, indicates strong expansion in 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.

Three-Wheeler Surge

Three-wheeler sales registered exceptional growth of 70%, with sales increasing from 10,856 units in October 2024 to 18,407 units in October 2025, demonstrating TVS's expanding presence in the commercial vehicle segment.

Strategic Implications and Market Positioning

TVS Motor's October 2025 performance carries several strategic implications. The record monthly sales of 543,557 units validate the company's diversified product strategy across motorcycles, scooters, electric vehicles, and three-wheelers. The 8% overall domestic growth, driven by 16% motorcycle growth and 7% scooter growth, demonstrates balanced strength across the portfolio.

The fact that motorcycles outpaced scooters in growth rate (16% vs 7%) confirms the continued relevance of TVS's motorcycle portfolio and validates the company's investments in this segment. The motorcycle segment's growing share of the sales mix – now comprising 63% of domestic 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 international business (21%) alongside solid domestic expansion (8%) 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 Monthly Sales: Up from 489,015 units (Oct 2024) to 543,557 units (Oct 2025) – 11% growth
• Total Domestic Two-Wheelers: Up from 390,489 units (Oct 2024) to 421,631 units (Oct 2025) – 8% growth
• Motorcycles: Up from 230,822 units (Oct 2024) to 266,715 units (Oct 2025) – 16% growth
• Scooters: Up from 193,439 units (Oct 2024) to 205,919 units (Oct 2025) – 7% growth
• Electric Vehicles: Up from 29,308 units (Oct 2024) to 32,387 units (Oct 2025) – 11% growth
• International Business: Up from 95,708 units (Oct 2024) to 115,806 units (Oct 2025) – 21% growth
• Three-Wheelers: Up from 10,856 units (Oct 2024) to 18,407 units (Oct 2025) – 70% growth

These year-on-year comparisons demonstrate broad-based growth across all segments, with motorcycles and international business showing particularly strong momentum.

Comparison with September 2025

The October 2025 performance shows interesting trends when compared to September 2025, which also recorded strong numbers. In September 2025, domestic two-wheeler sales grew 12% to 4.13 lakh units (413,279 units), with scooters posting 17% growth to 2.19 lakh units (218,928 units) and motorcycles growing 9% to 2.50 lakh units (249,621 units).

The shift from September to October is noteworthy:

• Motorcycles accelerated from 9% growth (September) to 16% growth (October)
• Scooters decelerated from 17% growth (September) to 7% growth (October)
• This represents a normalization of demand patterns post the pre-festive buildup typically seen in September

Electric Mobility and Future

Outlook With 32,387 units sold in October 2025, TVS's electric vehicle portfolio, led by the iQube, continues to be a focus area showing 11% year-on-year growth. 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, despite near-term challenges related to magnet availability. 

Looking ahead, TVS's diversified portfolio across motorcycles, scooters, mopeds, electric vehicles, and three-wheelers positions it well to capitalize on evolving consumer preferences. The company's strong performance across multiple segments demonstrates its ability to adapt to market dynamics.

Conclusion

October 2025 will be remembered as a milestone month for TVS Motor Company. The achievement of highest-ever monthly sales (543,557 units), record domestic two-wheeler wholesales (421,631 units), highest-ever motorcycle shipments (266,715 units), and solid scooter growth (205,919 units, up 7%) 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 8% domestic growth, complemented by exceptional 21% international business growth and 70% three-wheeler growth, validates TVS's strategic portfolio decisions and investments across segments.

As India's two-wheeler industry continues its evolution, TVS Motor's balanced growth across segments, combined with strong 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.