TVS Motor Company has started FY2027 with moderate growth, reporting total sales of 4,73,970 units in April 2026, up 6.82% YoY compared to 4,43,716 units last year. While overall numbers are up, the underlying trend shows a clear shift in demand across segments. Scooters have now overtaken motorcycles as the company’s biggest volume driver — a notable change for TVS.
Scooter, EV Momentum Offsets Motorcycle Decline
Scooter sales jumped to 2,11,158 units, posting a strong 24% YoY growth and accounting for the largest share of total volumes. The rise has been supported by continued traction for Jupiter and NTorq, along with growing urban demand.
Electric scooters also continued their upward trajectory, with 37,771 units sold (+36% YoY), indicating steady expansion in TVS’ EV portfolio. In contrast, motorcycles saw a decline, dropping to 2,00,039 units, down 9% YoY. This suggests demand pressure in the commuter and premium bike segments during the month.
Domestic Market Holds, Exports Stay Flat
TVS’ domestic business remained stable, with 3,53,962 units sold (+8% YoY). Growth here was largely driven by scooters and EVs. Exports, however, remained almost flat at 1,20,008 units (+2.8% YoY). On a monthly basis, export volumes saw a sharper dip, reflecting global logistical and demand challenges.
3W Segment Sees Strong Uptick
One of the standout performers for TVS in April was its three-wheeler business, which grew sharply by 37% YoY to 18,637 units. Both domestic and export markets contributed to this growth, signalling improving demand in last-mile mobility and cargo transport.
Supply Constraints Hold Back Full Potential
Interestingly, TVS highlighted that retail demand remained strong, but dispatches were impacted due to supply chain disruptions. Issues such as raw material shortages, workforce constraints and container availability affected production and shipments. The company expects these challenges to ease going forward, with production likely to stabilise from May 2026.
April’s numbers underline a broader shift in TVS’ portfolio dynamics. Scooters and EVs are gaining ground rapidly, while motorcycles — traditionally the core segment — are seeing some slowdown. If supply issues ease and EV momentum continues, TVS could see a stronger growth trajectory in the coming months, especially with changing buyer preferences tilting towards scooters and electrification.
