Apache maker TVS Motor rides EV surge to record quarterly sales

TVS Motor Company posted its highest-ever quarterly sales in the September quarter on Wednessday, with electric two-wheeler volumes more than doubling from a year earlier, as demand for EVs continued to outpace growth in the broader vehicle market.

The surge comes amid signs of growing traction for electric mobility across the industry.

Also Read: Alternative fuels overtake petrol in India’s car sales for first time as CNG, EVs and hybrids gain ground


TVS Motor’s electric two-wheeler sales jumped 133% year-on-year to 1.86 lakh units in the second quarter of FY27, compared with 80,009 units a year earlier.

Overall two- and three-wheeler sales rose 27% to 1.9 million units, the company said in a press release.

Growth extended across its portfolio, with motorcycle sales rising 28% to 9 lakh units and scooter sales increasing 29% to 8 lakh units. International business volumes grew 35% to 5 lakh units, while three-wheeler sales climbed 47% to 78,475 units.

The higher volumes lifted revenue 44% to a record Rs 17,103 crore in the July-September quarter. Profit after tax rose 52% to Rs 1,377 crore, while earnings before interest, tax, depreciation and amortisation increased 47% to Rs 2,219 crore. The EBITDA margin expanded 30 basis points to 13%.

The EV surge comes amid a broader shift towards alternative powertrains in India’s passenger vehicle market.

Also Read: Bajaj Auto CFO flags production crunch for electric two-wheelers and three-wheelers

In August, the combined share of CNG, hybrid and electric cars overtook petrol for the first time, reaching 41.95% of sales against petrol’s 40.85%, according to data compiled by the Federation of Automobile Dealers Associations (FADA).

Meanwhile, rival Bajaj Auto has also flagged strong EV demand, saying capacity constraints limited deliveries of electric two-wheelers and three-wheelers to 75% of planned volumes.