TVS Motor Statistics By Revenue, Market Share And Unit Sales

Introduction

TVS Motor Statistics: TVS Motor, a name synonymous with two-wheelers in India, has been around for over a century. It’s the third-largest motorcycle company in the country, known for putting millions on the road with a smile. TVS Motor’s story began as part of the larger TVS Group. Their focus has always been on providing reliable and well-built machines, from mopeds and scooters to zippy commuter bikes. They’ve also shown a keen eye for innovation, with a strong focus on research and development.

This has led to industry-leading features and technologies in their vehicles. Let’s understand the brand’s performance in the worldwide market through these recent TVS Motor Statistics.

Editor’s Choice

• TVS Motor Statistics show that, as of 2024, the revenue in the worldwide market is estimated to amount to USD 5.70 billion.
• Revenue in the Australia and Oceania markets has been projected to amount to USD 1.52 million in the current year.
• TVS Motors had a 7% market share in the motorcycle segment, with strong demand in countries like Indonesia and the Philippines.
• About the worldwide competition, in a similar period, the majority of the revenue is projected to be generated from India, contributing USD 5,321.00 million.
• In 2024, unit sales are projected to reach 2.8 million vehicles worldwide, the highest projected amount in comparison to last decade’s performance. Furthermore, by 2029, the brand is expected to record improving sales growth.
• The company is working towards a greener supply chain by collaborating with suppliers to reduce emissions. In 2023, TVS Motors’ green initiatives with suppliers resulted in a 10% reduction in emissions across the supply chain.
• TVS’s motorcycle segment is the highest-sales-generating business segment, with 1.73 million units sold in 2023. Scooters accounted for 1.33 million units, followed by mopeds (0.45 million) and three-wheelers (0.17 million).
• The revenue of TVS Motor in the American market in 2024 is projected to amount to USD 18.22 million.
• TVS Motors has invested $50 million in sustainable manufacturing practices, including solar power installations and water recycling systems at their plants.
• In India, TVS Motors had a 15% market share in the three-wheeler segment, including both passenger and cargo carriers.

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TVS Motorcycles Market By Region

Worldwide

• TVS Motor Statistics show that, as of 2024, the revenue in the worldwide market is estimated to amount to US$5.70 billion.
• The total unit sales for TVS motorcycles in the similar region are projected to reach 3.4 million vehicles by 2029.
• Between 2024 and 2029, the annual growth rate is estimated to be at 6.14%, leading the market volume to US$7.68 billion by the forecast period.
• About the worldwide competition, TVS Motor Statistics 2024 shows that, in a similar period, the majority of the revenue is projected to be generated from India, contributing US$5,321.00 million.
• The volume-weighted average price is estimated to reach US$2.01K in 2024.

TVS Motorcycles Unit Sales

(Reference: statista.com)

TVS Motor Statistics show that, in 2024, unit sales are projected to reach 2.8 million vehicles worldwide, the highest projected amount in comparison to last decade’s performance. Furthermore, by 2029, the brand is expected to record improving sales growth.

TVS Motorcycles Revenue Change

(Reference: statista.com)

TVS Motorcycles revenue is estimated to reach 7.68 billion US dollars by 2029. Currently, it is expected to amount to 5.70 billion USD. Since 2022, TVS has recorded the highest revenue by a year-wise performance.

Asia

• In 2024, the revenue in the Asian market is estimated to amount to US$5.45 billion.
• The market volume is projected to grow at a CAGR of 6.28% between 2024 and 2029, reaching US$7.39 billion by the forecast period.
• Unit Sales are projected to reach 3.3 million vehicles by 2029.
• Furthermore, the volume-weighted average price is estimated to reach US$2.00k in the Asian market.

Americas

• The revenue of TVS Motor in the American market in 2024 is projected to amount to US$18.22 million.
• In addition, revenue is expected to grow at an annual rate of 0.99%, reaching a market volume of US$19.14 million by 2029.
• The volume-weighted average price in 2024 is expected to amount to US$2.29k in the American market.
• Unit sales are projected to grow to 7.9k vehicles by the forecast period.

Africa

• The African TVS motorcycle market is estimated to generate a revenue of US$233.80 million in 2024.
• The unit sales are projected to reach 109.6k vehicles by 2029.
• Furthermore, by the forecast period, the volume is estimated to grow at a CAGR of 2.56%, reaching US$265.30 million.
• Unit sales are projected to touch 109.6k vehicles by 2029.

Australia and Oceania

• Revenue in the Australia and Oceania markets has been projected to amount to US$1.52 million in the current year.
• Furthermore, TVS Motor Statistics estimates that it will grow at a CAGR of 1.03%, leading the market volume to US$1.60 million by 2029.
• The volume-weighted average price of the same in 2024 is projected to reach US$2.20k.
• In addition, the estimated unit sales will be 0.7k vehicles by 2029.

Europe

• The revenue in the European market is expected to amount to US$157.00k in 2024.
• Furthermore, the CAGR at which the market volume is expected to grow is 0.05%, reaching US$157.40k by 2029.
• The volume weight average price of the same in the current year is projected to reach US$2.49k.
• Moreover, the unit sales are projected to reach 60.000 vehicles by 2029.

Total Income of TVS Motor Company

(Reference: statista.com)

In the previous financial year, TVS Motor generated 264.79 billion rupees in total income, the highest total income in the last five years. However, the performance has been stable at a certain level over these years.

Total Number of Vehicles Sold By Type

(Reference: statista.com)

TVS’s motorcycle segment is the highest-sales-generating business segment, with 1.73 million units sold in 2023. Scooters accounted for 1.33 million units, followed by mopeds (0.45 million) and three-wheelers (0.17 million).

TVS Motor Vehicle List (2024 Vehicles)

Scooters	Specifications
TVS Jupiter 125	124.76 cc, 6 kW @ 6500 rpm, 108 kgs
TVS Ntorq	124.8 cc, 6.9 kW @ 7000 rpm, 110 kgs
TVS Jupiter	109.7 cc, 5.8 kW @ 7500 rpm, 107 kgs
TVS Zest 110	109.7 cc, 5.75 kW @ 7500 rpm, 103 kgs
TVS Scooty Pep+	87.8 cc, 4.0 kW @ 6500 rpm, 93 kgs
Motorcycles
Apache RTR 310	312.12 cc, 26.16 kW @9700 rpm, 169 kgs
Apache RR 310	312 cc, 33.5 bhp, 174 kgs
TVS Apache RTR Series
TVS Ronin	225.9 cc, 20.4 PS, 160 kgs
TVS Raider	124.8 cc, 8.37 kW @ 7500 rpm, 123 kgs
TVS Radeon	109.7 cc, 6.03 kW @ 7350 rpm, 113 kgs
TVS Star City+	109.7 cc, 6.03 kW @ 7350 rpm, 116 kgs
TVS Sport	109.7 cc, 6.03 kW @ 7350 rpm, 112 kgs
Mopeds
TVS XL 100	99.7 cc, 3.2 kW @ 6000 rpm, 88 kgs
Electric
TVS X	140 km*, 3h 40m, 105 km/h
TVS iQube	150 km*, 4h 06 m, 82 km/h
Three Wheelers
TVS King	199 cc, 6 bhp, 360 kgs

(Source: tvsmotor.com)

TVS Motors Overview

TVS Motors is one of India’s leading two-wheeler and three-wheeler manufacturers. With a strong presence in the domestic and international markets, TVS Motors is known for its innovative products and robust performance. The company is part of the larger TVS Group, which has a significant influence in the Indian automotive sector.

Types of Vehicles Manufactured

Two-Wheelers

• Motorcycles: TVS Apache series, TVS Raider, TVS Sport
• Scooters: TVS Jupiter, TVS Ntorq, TVS Scooty Pep+
• Mopeds: TVS XL100

Three-Wheelers

• Passenger Carriers: TVS King
• Cargo Carriers: TVS King Cargo

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 Market Share By Types of Vehicles Region-wise

 2023 Market Share

India:

• Motorcycles: In 2023, TVS Motors held a market share of 14% in the Indian motorcycle segment. Popular models like the TVS Apache series contributed significantly to this share.
• Scooters: In the scooter segment, TVS Motors captured a 20% market share, with models like TVS Jupiter and TVS Ntorq being top performers.
• Three-Wheelers: TVS Motors had a 15% market share in the three-wheeler segment, including both passenger and cargo carriers.

Southeast Asia:

• Motorcycles: TVS Motors had a 7% market share in the motorcycle segment, with strong demand in countries like Indonesia and the Philippines.
• Scooters: The market share for scooters was around 5%, with TVS Ntorq gaining popularity.

Africa:

• Motorcycles: TVS Motors had a 10% market share in the motorcycle segment, driven by high demand in Nigeria and Kenya.
• Three-Wheelers: TVS Motors held a 12% market share in the three-wheeler segment, focusing on both passenger and cargo carriers.

 2024 Market Share Projections

India:

• Motorcycles: Expected to increase to 15%, with the introduction of new models and technology upgrades.
• Scooters: Projected to grow to 21%, driven by increased urban mobility and demand for convenient transport options.
• Three-Wheelers: Market share expected to remain stable at 15%.

Southeast Asia:

• Motorcycles: Anticipated to rise to 8%, with expansion in existing markets and new product launches.
• Scooters: Projected to increase to 6%, with enhanced marketing efforts and competitive pricing.

Africa:

• Motorcycles: This segment is expected to grow to 11% as TVS Motors continues to strengthen its distribution network and after-sales service.
• Three-Wheelers: Market share likely to remain at 12%, with sustained demand in key markets.

Financials and Investments

TVS Motors has been focusing on expanding its global footprint and investing in new technologies. In 2023, TVS Motors’ revenue from the motorcycle segment was approximately $2.8 billion, while the scooter segment contributed around $1.5 billion. The three-wheeler segment generated about $0.8 billion in revenue.

For 2024, the projected revenue for motorcycles is expected to rise to $3.0 billion, scooters to $1.6 billion, and three-wheelers to $0.85 billion. This growth is in line with the company’s strategic initiatives to innovate and cater to evolving consumer preferences.

Strategic Initiatives and Future Prospects

TVS Motors continues to invest in electric vehicle technology, with plans to launch new electric scooters and motorcycles in the coming years. The company is also enhancing its digital capabilities to improve customer experience and streamline operations. These initiatives are expected to bolster TVS Motors’ market position and drive growth across various regions.

TVS Motors’ Product Launches and Developments

 2023 Product Launches and Developments

TVS Apache RTR 310:

• Launched in early 2023, this high-performance motorcycle features advanced technology and design upgrades. A 310cc engine powers it and comes with ride modes and Bluetooth connectivity.

TVS iQube Electric:

• TVS expanded its electric scooter lineup with the launch of the TVS iQube ST. This model offers a longer range, faster charging capabilities, and enhanced smart features, including geofencing and navigation assistance.

TVS Jupiter ZX:

• An upgraded version of the popular scooter launched with new features such as a silent start system, a digital console, and better fuel efficiency.

TVS King Deluxe:

• In the three-wheeler segment, TVS introduced the King Deluxe, which boasts a more powerful engine, improved comfort, and better mileage, catering to both passenger and cargo transport needs.

2024 Product Launches and Developments

TVS Raider 125:

• Set to launch in mid-2024, this motorcycle is expected to cater to young riders with its sporty design and advanced features like LED lighting and digital instrumentation.

TVS Creon:

• TVS plans to introduce the Creon, an advanced electric scooter with superior battery technology, offering a range of over 100 km per charge and fast charging options.

TVS XL100 Hybrid:

• The hybrid version of the popular moped, designed to offer improved fuel efficiency and lower emissions, is scheduled for a late 2024 launch.

TVS Apache RR 310 Facelift:

• An updated version of the flagship sports bike with cosmetic enhancements, improved aerodynamics, and a retuned engine for better performance.

Future Product Launches and Developments

TVS Motors is focusing on expanding its electric vehicle portfolio and enhancing its existing models with new technologies.

Electric Motorcycles:

• TVS is developing new electric motorcycles aimed at the urban commuter market, featuring advanced battery management systems and connected technologies.

Hybrid Vehicles:

• The company is also working on hybrid variants of its popular models to offer consumers more environmentally friendly options.

Connected Vehicles:

• Future developments include integrating IoT technologies to provide features like remote diagnostics, ride analytics, and enhanced safety features.

Contribution to Reduced Carbon Emissions

TVS Motors is actively contributing to reducing carbon emissions through several initiatives:

Electric Vehicle Expansion:

• TVS is significantly expanding its electric vehicle lineup. In 2023, the company sold over 50,000 electric scooters, contributing to a reduction of approximately 75,000 tons of CO2 emissions annually.

Hybrid Technology:

• The introduction of hybrid models like the TVS XL100 Hybrid helps in reducing fuel consumption and emissions. These vehicles are expected to lower emissions by 20% compared to their conventional counterparts.

Sustainable Manufacturing:

• TVS Motors has invested $50 million in sustainable manufacturing practices, including solar power installations and water recycling systems at their plants. This has resulted in a 15% reduction in their overall carbon footprint in 2023.

Green Supply Chain:

• The company is working towards a greener supply chain by collaborating with suppliers to reduce emissions. In 2023, TVS Motors’ green initiatives with suppliers resulted in a 10% reduction in emissions across the supply chain.

 Financial Impact and Market Reach

In 2023, TVS Motors’ revenue from new product launches and developments was around $1.2 billion. The projected revenue for 2024 from these initiatives is expected to grow to $1.4 billion, reflecting a robust demand for innovative and eco-friendly vehicles. With these strategic moves, TVS Motors is not only enhancing its market presence but also contributing significantly to global sustainability efforts.

Conclusion

In conclusion, TVS Motors is well-positioned to capture a larger market share in the two-wheeler and three-wheeler segments, both in India and globally. TVS Motor Statistics identified that, with a strong product portfolio and strategic investments, the company is poised for sustained growth in 2025 and beyond. Looking ahead, TVS Motor is staying ahead of the curve.

They’re embracing sustainability and developing eco-friendly technologies for their vehicles. They’re also venturing into the exciting world of electric scooters, making transportation cleaner and more accessible.