Quick Takeaways
- TVS Motor iQube electric scooter strengthens its lead as India’s top-selling electric scooter.
- The milestone highlights accelerating demand and a strong FY2026 outlook for TVS Motor.
TVS Motor’s bestselling electric scooter, the iQube, has surpassed the 8 lakh wholesales mark in the domestic market, reinforcing its position as India’s largest-selling electric scooter. The milestone was achieved by end-December 2025, when the company dispatched 35,177 units, marking the fourth straight month with monthly wholesales above 30,000 units.
Rapid scale-up positions the iQube for the next milestone
The pace of growth suggests the iQube could approach the 1 million wholesales mark sooner than expected, with FY2026 shaping up to be its strongest year so far. Volumes have accelerated sharply in the period following FY2024, reflecting rising acceptance of electric scooters across India.
Sales acceleration post-FY2024
According to SIAM e-2W data, cumulative factory dispatches of the iQube since its market launch in January 2020 have reached 8.24 lakh units, with exports contributing an additional 4,045 units. Total production between FY2020 and December 2025 stands at 8.31 lakh units.
The iQube’s growth curve has steepened significantly over time. The first 1 lakh units took more than three years, while the next 1 lakh units were added in just 10 months. The 3 lakh wholesales milestone was crossed in April 2024, 52 months after launch.
Post that point, momentum intensified. Moving from 3.01 lakh to 7 lakh units took only 17 months, and the step from 7 lakh to 8 lakh units was completed in just three months between October and December 2025. In total, the iQube reached the 8 lakh mark in 72 months.
Strong contribution to TVS Motor’s scooter portfolio
TVS Motor Company recorded a strong FY2025 with scooter wholesales of 18.13 lakh units, a 25 percent year-on-year increase across petrol models such as Jupiter, NTorq and Zest, along with the electric iQube. This translated into a 26 percent share of the Indian scooter market, which itself hit a record 68.53 lakh units during the fiscal.
Within this performance, the TVS Motor iQube electric scooter contributed 2.73 lakh units, accounting for around 15 percent of the company’s total scooter sales for FY2025.
Between April and December 2025, TVS dispatched 2.53 lakh iQubes, reflecting 28 percent year-on-year growth compared with 1.98 lakh units in the same period a year earlier. These volumes made up 15 percent of total scooter wholesales of 16.77 lakh units during the nine-month period, which grew 26 percent year-on-year.
Strong iQube volumes helped TVS lift its scooter market share to 29 percent in April–December 2025, up from 25 percent a year earlier and the highest level achieved so far. Petrol scooter sales during this period stood at 14.24 lakh units, also up 26 percent year-on-year.
Retail sales near the 7.7 lakh mark
While wholesales represent factory dispatches, retail figures provide clearer insight into consumer demand. As per Vahan data, cumulative iQube retail sales in India reached 7.65 lakh units between January 2020 and January 24, 2026.
In comparison, Bajaj Auto’s Chetak electric scooter, launched in the same month as the iQube, recorded cumulative retail sales of 5.85 lakh units over the same timeframe.
Calendar year 2025 marked the iQube’s strongest retail performance to date, with sales of 2.99 lakh units, falling short of the 3 lakh mark by just 863 units.
FY2026 wholesales set to exceed 3 lakh units
FY2026 is emerging as the most robust year yet for the TVS Motor iQube electric scooter. With 2.53 lakh units already dispatched in the first nine months, wholesales were just 19,475 units shy of FY2025’s full-year total of 2.73 lakh units, a gap that was expected to close within the early weeks of January 2026.
Monthly dispatches have remained above 30,000 units for four consecutive months, reaching a new peak of 38,191 units in November 2025. During Q3 FY2026 (October–December 2025), average monthly wholesales stood at 35,119 units.
With Q4 still underway and demand holding firm, TVS is on track to cross the 3 lakh wholesales milestone for the iQube for the first time in FY2026. This would also push cumulative iQube sales beyond 9 lakh units, further consolidating TVS Motor’s leadership in India’s electric scooter segment.
Pricing and product updates support demand
Recent momentum has been supported by price reductions of up to Rs 26,000, enabled by GST-related changes, along with battery capacity upgrades across iQube variants. These factors have improved the value proposition, helping sustain strong demand and supporting the iQube’s rapid scale-up in the Indian electric two-wheeler market.
Rapid scale-up positions the iQube for the next milestone
The pace of growth suggests the iQube could approach the 1 million wholesales mark sooner than expected, with FY2026 shaping up to be its strongest year so far. Volumes have accelerated sharply in the period following FY2024, reflecting rising acceptance of electric scooters across India.
Sales acceleration post-FY2024
According to SIAM e-2W data, cumulative factory dispatches of the iQube since its market launch in January 2020 have reached 8.24 lakh units, with exports contributing an additional 4,045 units. Total production between FY2020 and December 2025 stands at 8.31 lakh units.
The iQube’s growth curve has steepened significantly over time. The first 1 lakh units took more than three years, while the next 1 lakh units were added in just 10 months. The 3 lakh wholesales milestone was crossed in April 2024, 52 months after launch.
Post that point, momentum intensified. Moving from 3.01 lakh to 7 lakh units took only 17 months, and the step from 7 lakh to 8 lakh units was completed in just three months between October and December 2025. In total, the iQube reached the 8 lakh mark in 72 months.
Strong contribution to TVS Motor’s scooter portfolio
TVS Motor Company recorded a strong FY2025 with scooter wholesales of 18.13 lakh units, a 25 percent year-on-year increase across petrol models such as Jupiter, NTorq and Zest, along with the electric iQube. This translated into a 26 percent share of the Indian scooter market, which itself hit a record 68.53 lakh units during the fiscal.
Within this performance, the TVS Motor iQube electric scooter contributed 2.73 lakh units, accounting for around 15 percent of the company’s total scooter sales for FY2025.
Between April and December 2025, TVS dispatched 2.53 lakh iQubes, reflecting 28 percent year-on-year growth compared with 1.98 lakh units in the same period a year earlier. These volumes made up 15 percent of total scooter wholesales of 16.77 lakh units during the nine-month period, which grew 26 percent year-on-year.
Strong iQube volumes helped TVS lift its scooter market share to 29 percent in April–December 2025, up from 25 percent a year earlier and the highest level achieved so far. Petrol scooter sales during this period stood at 14.24 lakh units, also up 26 percent year-on-year.
Retail sales near the 7.7 lakh mark
While wholesales represent factory dispatches, retail figures provide clearer insight into consumer demand. As per Vahan data, cumulative iQube retail sales in India reached 7.65 lakh units between January 2020 and January 24, 2026.
In comparison, Bajaj Auto’s Chetak electric scooter, launched in the same month as the iQube, recorded cumulative retail sales of 5.85 lakh units over the same timeframe.
Calendar year 2025 marked the iQube’s strongest retail performance to date, with sales of 2.99 lakh units, falling short of the 3 lakh mark by just 863 units.
FY2026 wholesales set to exceed 3 lakh units
FY2026 is emerging as the most robust year yet for the TVS Motor iQube electric scooter. With 2.53 lakh units already dispatched in the first nine months, wholesales were just 19,475 units shy of FY2025’s full-year total of 2.73 lakh units, a gap that was expected to close within the early weeks of January 2026.
Monthly dispatches have remained above 30,000 units for four consecutive months, reaching a new peak of 38,191 units in November 2025. During Q3 FY2026 (October–December 2025), average monthly wholesales stood at 35,119 units.
With Q4 still underway and demand holding firm, TVS is on track to cross the 3 lakh wholesales milestone for the iQube for the first time in FY2026. This would also push cumulative iQube sales beyond 9 lakh units, further consolidating TVS Motor’s leadership in India’s electric scooter segment.
Pricing and product updates support demand
Recent momentum has been supported by price reductions of up to Rs 26,000, enabled by GST-related changes, along with battery capacity upgrades across iQube variants. These factors have improved the value proposition, helping sustain strong demand and supporting the iQube’s rapid scale-up in the Indian electric two-wheeler market.
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