After Hero, the glory of this local two-wheeler company! Overtakes Yamaha to become world’s third largest company
TVS Motor Company is making its mark not only in the country but also in the world. The company has recently achieved a historic achievement. TVS has overtaken Japanese giant Yamaha Motor to take the third position in global two-wheeler production. Now in the global ranking, Honda is first, Hero MotoCorp is second and TVS is third. This is a very good thing for the Indian two-wheeler market, because now two Indian companies are included in the top-3.
According to the data, TVS sold a total of 54.6 lakh units in 2025, which shows a huge growth of 20.7 percent from 45.2 lakh units in 2024. At the same time, Yamaha’s sales were only around 50 lakh units, which increased by only 0.8 percent from 49.6 lakh units in 2024. Honda maintained its dominance by selling 164.4 lakh units in 2025, while Hero MotoCorp’s sales stood at 62.5 lakh units. TVS is now the third largest two-wheeler company in India too, with a domestic market share of 19-20 percent.
Customers made ‘Hero’
There are many strategic factors behind this success of TVS. First, the wave of premiumization in India benefited the company. TVS’s strong presence in the above 150cc motorcycle segment attracted both mass market and premium customers. The wide range of mopeds and scooters also boosted domestic sales. The second major contribution is from exports. TVS has also gained strength in Africa, Latin America and other foreign markets. TVS has now become the second largest exporter in Africa after Bajaj.
EV two-wheeler market booming
Apart from this, TVS’s leadership in the electric two-wheeler segment is also commendable. The company continues to be on top in India’s EV two wheeler market and is planning to increase its production capacity to 5 lakh units annually. To further strengthen the product portfolio, TVS has partnered with Norton brand and launched premium bikes like Manx and Atlas. There has also been a change in leadership. Sudharshan Venu was made chairman and Nick Rogers, former engineering head of Jaguar Land Rover, was included, who will strengthen the global brands.
Where did Yamaha lag behind?
On the other hand, Yamaha’s focus remained on developed markets (Europe, America) and niche segments, where demand is slow. Its growth was limited due to production constraints and rising costs in emerging markets. The average per unit price of Yamaha is higher as compared to TVS, hence Yamaha may be ahead in revenue, but TVS has won in terms of volume.
Company’s future plan
In the future, TVS is banking on premiumization, EVs and global expansion (Europe, South-East Asia, Middle East). This achievement is not only a milestone for TVS, but also a symbol of the growing strength of Indian manufacturing companies. TVS may overtake Yamaha in the coming years, but challenges like global competition and manufacturing costs will remain.
