March 2026 Sales Analysis - TVS

March 2026 proved to be a high-impact month for TVS Motor Company, with the brand registering total sales of 3.72 lakh units—marking a robust 25% year-on-year growth and a steady 2% month-on-month increase. The performance reflects a well-balanced portfolio strategy, where scooters, commuter motorcycles, EVs, and mopeds all contributed meaningfully to volume expansion.

Here is a model-wise breakup of March'26 volumes:

Overall Performance

• Total Sales (Mar-26): 3,72,383

• YoY Growth: +25% (strong expansion vs Mar-25)

• MoM Growth: +2% (steady, moderate increase vs Feb-26)

TVS is showing robust annual growth with stable monthly momentum.

Scooters Segment

Key contributors:

• Jupiter: 1,24,771 units | +18% YoY | -2% MoM

• Ntorq: 32,598 units | +49% YoY | +2% MoM

• Zest: 9,724 units | +25% YoY | +7% MoM

  Insights:

• Jupiter remains the volume leader but saw a slight monthly dip.

• Ntorq is a standout performer with strong YoY growth, indicating rising demand in sporty scooters.

• Overall scooter portfolio is healthy and expanding.

Motorcycles Segment

Top performers:

• Apache: 47,081 units | +6% YoY | +4% MoM

• Raider: 37,345 units | +21% YoY | +3% MoM

• Radeon: 15,330 units | +52% YoY | +14% MoM

• Sport: 10,905 units | +54% YoY | +13% MoM

• Ronin: 8,108 units | +61% YoY | -1% MoM

Insights:

• Radeon & Sport are high-growth entry-level drivers.

• Raider continues to scale strongly in the commuter-premium space.

• Apache is stable but comparatively slower growing.

• Ronin shows strong yearly traction but slight monthly softness.

Concern:

• Star City: collapsed to just 5 units (-100% YoY) → likely phase-out or supply issue.

Electric Segment

• iQube Electric: 38,757 units | +46% YoY | +2% MoM

Insight:

• EV growth remains very strong, reinforcing TVS’s position in the electric scooter market.

Performance / Premium

• RR310: 1,567 units | +1467% YoY | +1% MoM

• Massive YoY jump likely due to low base last year, but indicates growing traction in premium bikes.

Moped Segment

• XL Super: 46,192 units | +31% YoY | +2% MoM

• Mopeds remain a reliable volume backbone, especially in rural markets.

Key Takeaways

• Growth Drivers: Ntorq, iQube, Radeon, Sport, Raider

• Weak Spot: Star City (near-zero sales)

• Stable Anchors: Jupiter, Apache, XL Super

• Future Trend: Strong EV adoption led by iQube