- TVS Motor surpassed Yamaha in global motorcycle sales in 2025, becoming the third-largest manufacturer worldwide.
- Strong demand in India, exports to emerging markets, and EV growth contributed significantly to TVS’s global expansion.
TVS Motor global two-wheeler sales have surpassed Yamaha’s annual volumes, positioning the Indian manufacturer as the world’s third-largest motorcycle producer by total units sold. The shift marks a notable change in the global motorcycle industry and highlights the growing influence of Indian manufacturers in international two-wheeler markets.
Industry data shows the Chennai-based company recorded global sales of 5.46 million units in 2025, representing a 20.7 percent increase compared with 4.52 million units in 2024. In comparison, Yamaha reported roughly 5 million motorcycles sold during 2025, reflecting only a marginal 0.8 percent increase from 4.96 million units the previous year.
Global Motorcycle Market Rankings
The reshuffle places TVS among the world’s leading motorcycle manufacturers. Honda continues to dominate the sector with 16.44 million units sold globally in 2025, an increase of about 6 percent compared with 15.51 million units the year before.
Hero MotoCorp retained the second position globally, delivering 6.25 million motorcycles during the same period, up from 5.94 million units in 2024. With its recent growth, TVS has now joined this group as the third-largest manufacturer by global volume.
The development also makes TVS the second Indian company to enter the global top three rankings after Hero MotoCorp, reflecting the strengthening presence of Indian brands in the international motorcycle industry.
Domestic Market Strength and Premium Motorcycle Demand
Within India, TVS remains the third-largest two-wheeler manufacturer, trailing Hero MotoCorp and Honda. The company holds an estimated domestic market share of around 19 to 20 percent.
One of the key contributors to its growth has been the premiumisation trend in India’s motorcycle market. Consumer demand has steadily shifted toward mid-size motorcycles above 150cc, a category where the company has expanded its offerings and benefited from rising interest in higher-performance models.
Mass Market Portfolio and Export Expansion
The company’s volume expansion is also supported by its strong presence in the mass-market segment, particularly through mopeds and entry-level motorcycles. A broad product portfolio allows the manufacturer to capture demand across multiple price segments.
Exports have further strengthened its global scale. The brand has built a significant presence in developing markets, especially across Africa, contributing meaningfully to total sales volumes.
Electric Mobility and Global Technology Strategy
The manufacturer has also established itself as a major participant in India’s electric two-wheeler segment. Growing demand for electric mobility has prompted the company to evaluate further expansion of its EV manufacturing capacity as production approaches roughly 500,000 units annually.
At the same time, the company is reinforcing its technology capabilities and leadership structure. Under chairman Sudarshan Venu, the group plans to bring former Jaguar Land Rover engineering head Nick Rogers into its senior leadership team. The move is intended to strengthen engineering capabilities and accelerate development for its global brands, including the Norton motorcycle business.
Premium motorcycles, electric mobility, and deeper global expansion remain central pillars of the company’s growth strategy as it targets stronger positions in Europe, Africa, Latin America, Southeast Asia, and the Middle East.
Yamaha’s Market Position and Regional Performance
Yamaha reported mixed performance across global markets during 2025. Sales volumes improved in Japan, but overall demand weakened slightly in developed markets due to softer conditions in Europe and the United States.
In emerging markets, production and shipments were temporarily halted in Vietnam, although sales increased in Indonesia, the Philippines, and Thailand.
The company noted that overall motorcycle sales and revenue remained broadly aligned with the previous fiscal year. However, operating income declined due to higher procurement costs, increased research and development spending, rising labour expenses, and the impact of new tariffs in the United States.
Despite these shifts, Honda continues to lead the global motorcycle industry, with approximately 85 percent of its sales originating from Asian markets, underscoring the importance of emerging economies in driving long-term industry growth.
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