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BSE Auto Sector Regulatory Filings — October 01, 2026

India BSE AUTO

By Gunpowder Editorial ·

12 medium priority 12 total filings analysed

Executive Summary

The Indian auto sector in September 2026 (Q2 FY27) presents a picture of robust domestic demand, particularly in the passenger vehicle (PV) and two-wheeler segments, with several companies reporting record sales.

However, this growth is sharply bifurcated, with a persistent weakness in exports across multiple players (Hero MotoCorp, Eicher Motors, Bajaj Auto) and a significant downturn in the bus segment for Ashok Leyland. The electric vehicle (EV) transition is accelerating, with Tata Motors and TVS Motor posting over 100% YoY growth in EV volumes, while Maruti Suzuki’s utility vehicle (UV) mix continues to surge. A major risk is the sharp 23% YoY decline in Mahindra & Mahindra's domestic tractor sales, attributed to a shift in the festive calendar. Management commentary from Tata Motors flags potential headwinds from commodity costs and interest rates in H2, suggesting the current growth trajectory may moderate. Overall, the sector is firing on domestic PV and 2W cylinders, but export and rural recovery remain key variables to watch.

Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →

Tracking the trend? Catch up on the prior BSE Auto Sector Regulatory Filings digest from September 24, 2026.

Investment Signals (10)

  • Tata Motors ↓ (BULLISH)
    ▲

    Q2 FY27 sales surged 42.7% YoY, with EV volumes growing 2.4X YoY, significantly outpacing the industry. Management flagged H2 headwinds from commodity costs and interest rates, creating a potential near-term buying opportunity on dips.

  • Tata Motors Passenger Vehicles ↓ (BULLISH)
    ▲

    Record quarterly sales of 201,723 units (+40% YoY), with EV penetration at 23% (vs industry ~8%). The CNG+EV mix now accounts for 51% of sales, signaling a successful dual-fuel strategy.

  • Maruti Suzuki ↓ (BULLISH)
    ▲

    September PV sales grew 24.4% YoY, driven by a 62.1% surge in UV sales. UVs now account for 45.3% of production (up from 39.4% a year ago), indicating a successful product mix shift towards higher-margin vehicles.

  • TVS Motor ↓ (BULLISH)
    ▲

    Q2 FY27 sales grew 27% YoY to 1.9M units, with international business surging 35% and 2W EV sales jumping 133%. This diversified growth across segments and geographies is a strong positive.

  • Hero MotoCorp ↓ (BEARISH)
    ▲

    Domestic scooter dispatches surged 60% YoY, but exports fell 31% YoY. The sharp divergence between domestic strength and export weakness creates a mixed outlook, with the export decline being a significant drag.

  • Bajaj Auto ↓ (MIXED)
    ▲

    Total sales grew only 5% YoY in September as domestic 2W sales fell 12% YoY. However, exports surged 32% YoY, and the Apr-Sep export growth of 47% YoY shows a strong recovery in international markets, offsetting domestic weakness.

  • Eicher Motors (Royal Enfield) (MIXED)
    ▲

    Record monthly sales of 1,33,958 units (+8% YoY), but exports declined 5% YTD and lower-capacity models (up to 350cc & EVs) fell 26% in September. The new Himalayan 440 and Flying Flea C6 launches are key catalysts for future growth.

  • Hyundai Motor India ↓ (BULLISH)
    ▲

    Record monthly sales of 77,916 units (+10.8% YoY), surpassing its previous record from July 2026. The upcoming Hyundai BAYON launch provides a near-term catalyst for continued momentum.

  • Ashok Leyland ↓ (MIXED)
    ▲

    Total September sales grew 28% YoY, driven by a 44% surge in M&HCV trucks. However, cumulative bus sales (Apr-Sep) declined 12% YoY, a significant red flag for the bus segment.

  • Mahindra & Mahindra ↓ (BEARISH)
    ▲

    SUV sales grew 14% YoY, and Trucks & Buses surged 53% YoY. However, domestic tractor sales plunged 23% YoY due to a festive season shift, creating a temporary but sharp earnings headwind for the Farm Equipment segment.

Risk Flags (8)

  • Ashok Leyland/Bus Segment Decline↓ [HIGH RISK]
    ▼

    Cumulative domestic M&HCV bus sales fell 6% YoY, and total (domestic+exports) bus sales fell 12% YoY for Apr-Sep 2026. This persistent weakness in a key segment is a major risk, especially given the company's exposure.

  • Hero MotoCorp/Export Collapse↓ [HIGH RISK]
    ▼

    September exports fell 31% YoY to 27,330 units. While YTD exports are up 8.3%, the sharp monthly decline suggests a sudden deterioration in key export markets, potentially impacting future revenue.

  • Mahindra & Mahindra/Tractor Sales Decline↓ [MEDIUM RISK]
    ▼

    Domestic tractor sales fell 23% YoY in September 2026, attributed to a festive season shift. While YTD sales are still up 6%, the magnitude of the monthly drop could signal a broader rural demand slowdown if the shift is not purely calendar-based.

  • Bajaj Auto/Domestic 2W Weakness↓ [MEDIUM RISK]
    ▼

    Domestic 2W sales fell 12% YoY in September, a stark contrast to the strong export performance. This suggests a loss of market share or weak demand in its core domestic market, which is a key risk.

  • Eicher Motors (VECV)/Export & Bus Weakness [MEDIUM RISK]
    ▼

    VECV exports declined 4.7% YoY in September, and year-to-date HD Bus exports fell 11%. The continued weakness in exports and the bus segment mirrors the broader industry trend and is a risk for the subsidiary.

  • Tata Motors/H2 Guidance Risk↓ [MEDIUM RISK]
    ▼

    Management explicitly flagged commodity costs, potential interest rate hikes, and global uncertainties as monitorables that could moderate growth in H2 FY27. This forward-looking caution creates a risk of earnings disappointment if these headwinds materialize.

  • Eicher Motors (Royal Enfield)/Model Mix Shift [LOW RISK]
    ▼

    Models with engine capacity up to 350cc & EVs fell 26% in September and 9% YTD. This decline in the entry-level/premium segment could indicate a shift in consumer preference or inventory correction, impacting overall volumes.

  • Maruti Suzuki/OEM Sales Decline↓ [LOW RISK]
    ▼

    Sales to other OEMs declined 44.3% YoY in September. While a small part of the business, this sharp drop could indicate a loss of a supply contract or reduced demand from partners.

Opportunities (9)

  • Tata Motors/EV Leadership↓ (OPPORTUNITY)
    ◆

    With EV volumes growing 2.4X YoY and a 23% EV penetration rate (vs industry ~8%), Tata Motors is cementing its leadership in the Indian EV space. The company's strong Q2 performance and market share gains present a compelling long-term growth story.

  • TVS Motor/International & EV Growth↓ (OPPORTUNITY)
    ◆

    Q2 international business grew 35% YoY and 2W EV sales jumped 133% YoY. The company's diversified revenue base and strong EV momentum, combined with its Deming Prize-winning quality, make it a strong candidate for premium valuation.

  • Maruti Suzuki/UV Mix Shift↓ (OPPORTUNITY)
    ◆

    UV sales surged 62.1% YoY, now accounting for 45.3% of production. This shift towards higher-margin UVs should drive margin expansion over time, making Maruti an attractive play on the premiumization trend.

  • Hyundai Motor India/New Model Catalyst↓ (OPPORTUNITY)
    ◆

    The upcoming Hyundai BAYON launch, with bookings already open, provides a clear near-term catalyst. The company's record sales momentum suggests strong consumer response, and the new model could further boost volumes.

  • Bajaj Auto/Export Recovery Play↓ (OPPORTUNITY)
    ◆

    Apr-Sep exports surged 47% YoY, indicating a strong recovery in key international markets. If domestic demand recovers, Bajaj Auto could see a powerful double-engine growth story.

  • Eicher Motors (Royal Enfield)/New Product Cycle (OPPORTUNITY)
    ◆

    The launch of the Himalayan 440 and the Flying Flea C6 in Europe/UK opens new addressable markets. The Flying Flea C6, with deliveries starting October 2026, is a key catalyst for international growth.

  • Mahindra & Mahindra/Tractor Export Growth↓ (OPPORTUNITY)
    ◆

    Tractor exports grew 62% YoY in September and 16% YTD. While domestic tractor sales are weak, the strong export performance provides a diversification buffer and indicates global competitiveness.

  • Ashok Leyland/LCV Growth Story↓ (OPPORTUNITY)
    ◆

    Cumulative LCV sales grew 21% YoY to 40,245 units, significantly outperforming the M&HCV bus segment. This strong LCV performance offers a bright spot and a potential area for further investment.

  • Hero MotoCorp/Scooter Momentum↓ (OPPORTUNITY)
    ◆

    Domestic scooter dispatches surged 60% YoY, indicating strong market share gains in the scooter segment. If this momentum continues, it could offset some of the weakness in exports and motorcycles.

Sector Themes (5)

  • Domestic PV Boom, Export Drag
    ◆

    5 of 6 major PV/2W players (Tata Motors, Maruti, Hyundai, TVS, Hero) reported strong domestic growth (10-42% YoY), but 3 of 6 (Hero, Bajaj, Eicher) saw export declines in September. The sector is heavily reliant on domestic demand, with exports remaining a volatile component. [IMPLICATION: Focus on companies with strong domestic franchises; export recovery is a key swing factor.]

  • EV Adoption Accelerating
    ◆

    Tata Motors (2.4X YoY), TVS Motor (133% YoY), and Hero MotoCorp (83% VAHAN retail growth for VIDA) all reported explosive EV growth. Tata Motors' EV penetration of 23% vs industry 8% highlights the leadership gap. [IMPLICATION: The EV theme is becoming a key differentiator; companies with strong EV portfolios are gaining market share.]

  • Premiumization & UV Shift
    ◆

    Maruti Suzuki's UV production share rose to 45.3% (from 39.4%), and Tata Motors' strong SUV sales point to a clear industry-wide shift towards higher-margin utility vehicles. This trend is margin-accretive for the sector. [IMPLICATION: Companies with strong UV/SUV lineups are better positioned for margin expansion.]

  • Bus Segment Under Pressure
    ◆

    Both Ashok Leyland (cumulative bus sales -12% YoY) and Eicher Motors' VECV (HD Bus exports -11% YTD) reported weakness in the bus segment. This is a potential red flag for the commercial vehicle sub-sector, possibly due to state government order deferrals or a shift to school bus demand. [IMPLICATION: Avoid overexposure to bus-heavy CV players; monitor for a demand recovery.]

  • Rural Demand Uncertainty
    ◆

    Mahindra's 23% YoY drop in domestic tractor sales, even if partly due to a festive shift, raises questions about rural demand. This is a key risk for the sector, as a sustained rural slowdown could impact 2W and entry-level car demand. [IMPLICATION: Watch rural indicators closely; a recovery in tractor sales next month would be a positive sign.]

Watch List (8)

  • Tata Motors/H2 FY27 Earnings Call↓
    👁

    Management flagged commodity costs and interest rate hikes as headwinds. The Q2 earnings call (expected late October) will be critical for guidance on H2 margins and volume targets. [Date: TBD, likely late Oct 2026]

  • Eicher Motors (Royal Enfield)/Flying Flea C6 Deliveries
    👁

    Deliveries of the Flying Flea C6 in Europe start in October 2026. Initial sales data will be a key indicator of the company's success in expanding its international footprint. [Date: October 2026 onwards]

  • Mahindra & Mahindra/October Tractor Sales↓
    👁

    The October 2026 tractor sales data will be crucial to determine if the September decline was purely a festive season shift or the start of a broader rural demand slowdown. [Date: Early November 2026]

  • Hero MotoCorp/Export Recovery↓
    👁

    Given the sharp 31% YoY decline in September exports, the October data will be closely watched to see if this is a one-off or a trend. [Date: Early November 2026]

  • Hyundai Motor India/Hyundai BAYON Launch↓
    👁

    The launch of the all-new BAYON nameplate is a key catalyst. Booking numbers and initial reviews will provide insight into its potential to drive further market share gains. [Date: TBD, likely October/November 2026]

  • Bajaj Auto/Domestic 2W Demand↓
    👁

    With domestic 2W sales falling 12% YoY in September, the upcoming festive season demand (Dhanteras/Diwali) will be a critical test for the company's domestic recovery. [Date: October/November 2026]

  • Ashok Leyland/Bus Segment Orders↓
    👁

    Given the 12% YoY decline in cumulative bus sales, any large order announcements from state transport corporations or private operators will be a key sentiment driver. [Date: Ongoing]

  • Maruti Suzuki/UV Mix & Margins↓
    👁

    The continued shift towards UVs (now 45.3% of production) should drive margin expansion. The Q2 FY27 earnings report will provide concrete data on whether this mix shift is translating into higher profitability. [Date: Late October 2026]

Filing Analyses (12)
Eicher Motors Limited Market Notice mixed materiality 6/10

01-10-2026

Eicher Motors reported September 2026 sales for its subsidiary VE Commercial Vehicles (VECV). Total VECV sales (including EVs) surged 49.6% YoY to 11,396 units, driven by strong domestic demand (+57.5%). However, exports declined 4.7% YoY, and the HD Bus segment saw a sharp 25.2% drop in year-to-date sales.

  • · Domestic SCV/LMD Trucks grew 62.0% YoY in September 2026, the highest growth among all segments.
  • · Exports of SCV/LMD trucks declined 14.7% YoY in September 2026.
  • · Year-to-date HD Bus exports declined 11.0%.
  • · Total Volvo Trucks & Buses sales declined 6.4% YoY in September 2026, though YTD growth was 17.3%.
Ashok Leyland Limited General Updates mixed materiality 6/10

01-10-2026

Ashok Leyland reported total vehicle sales of 24,049 units in September 2026, a 28% increase year-over-year from 18,813 units in September 2025. Domestic sales grew 29% to 22,157 units. However, while M&HCV truck sales surged 44% in the month, M&HCV bus sales showed a mixed picture: domestic bus sales grew 24% in September, but cumulative domestic bus sales for the year-to-date declined 6% compared to the same period last year, and total (domestic+exports) cumulative bus sales fell 12%.

  • · Cumulative domestic M&HCV bus sales for Apr-Sep 2026 declined 6% to 9,963 units from 10,555 units in the same period last year.
  • · Cumulative total (Domestic+Exports) M&HCV bus sales for Apr-Sep 2026 declined 12% to 13,846 units from 15,794 units.
  • · Domestic LCV sales grew 10% in September to 7,411 units, and cumulative LCV sales grew 21% to 40,245 units.
  • · Total cumulative sales (Domestic+Exports) for Apr-Sep 2026 reached 1,13,440 units, up 22% from 93,354 units.
Tata Motors Limited General Updates positive materiality 8/10

01-10-2026

Tata Motors Limited reported strong Q2 FY27 sales of 1,35,114 units, a 42.7% YoY increase from 94,681 units in Q2 FY26. September 2026 sales also surged 42.4% YoY to 51,062 units. While all segments showed robust growth, the International Business segment was the standout performer with a 177.3% YoY increase in Q2, and EV volumes grew 2.4X YoY. However, management flagged commodity costs, potential interest rate hikes, and global uncertainties as key monitorables that could moderate growth in the second half of the fiscal year.

  • · Domestic sales of MH&ICV in Q2 FY27 was 55,582 units, up 34.1% YoY from 41,461 units.
  • · Domestic & International sales for MH&ICV in Q2 FY27 stood at 59,194 units, up 31.3% YoY from 45,095 units.
  • · HCV Trucks benefited from continued activity in core sectors, infrastructure, construction, and mining.
  • · ILMCV segment growth was driven by e-commerce, FMCG, FMCD, and two-wheeler logistics.
  • · Passenger transportation momentum was supported by last-mile mobility, government orders, and intercity travel.
  • · Management noted that a high H2 base could moderate growth rates in the second half of the fiscal year.
  • · The company's name was changed to Tata Motors Limited from TML Commercial Vehicles Limited effective 29 October 2025, following a Composite Scheme of Arrangement sanctioned by the NCLT, Mumbai Bench.
Tata Motors Passenger Vehicles Limited Market Update positive materiality 7/10

01-10-2026

Tata Motors Passenger Vehicles Ltd. reported total sales of 201,723 units in Q2 FY27, a 40% year-on-year increase from 144,397 units in Q2 FY26, marking its highest-ever quarterly sales. Growth was driven by strong EV sales (up 90% YoY to 47,150 units) and CNG volumes, with EV and CNG together contributing 51% of sales. However, the company noted that the quarter was seasonally softer, and while industry Vahan volumes grew around 24% YoY, the company's growth outpaced the industry.

  • · September 2026 marked the first time monthly sales crossed 70,000 units.
  • · EV penetration in the company's portfolio rose to 23%, compared to around 8% for the industry.
  • · CNG accounted for 28% of volumes, and combined EV and CNG contributed 51% of sales.
  • · Punch was India's highest-selling SUV during the quarter.
  • · The company name changed from Tata Motors Limited to Tata Motors Passenger Vehicles Limited effective October 13, 2025.
  • · The company is part of the USD 180 billion Tata Group.
Maruti Suzuki India Limited General Updates positive materiality 5/10

01-10-2026

Maruti Suzuki India Limited reported total vehicle production of 242,011 units in September 2026, a 19.9% increase from 201,915 units in September 2025. The growth was driven by a strong 37.9% surge in Utility Vehicle production to 109,615 units, while Passenger Cars grew 9.1% to 115,220 units and Vans remained nearly flat at 13,256 units.

  • · Light Commercial Vehicles (Super Carry) production grew 8.9% YoY to 3,920 units.
  • · Utility Vehicles now account for 45.3% of total production, up from 39.4% a year ago.
  • · Passenger Cars share of total production declined to 47.6% from 52.3% in September 2025.
Hero MotoCorp Limited Market Update mixed materiality 7/10

01-10-2026

Hero MotoCorp reported total dispatches of 7,66,348 units in September 2026, a 12% YoY increase from 6,87,220 units in September 2025, driven by strong domestic demand ahead of the festive season. Domestic ICE dispatches grew 12% to 7,10,436 units, with scooter dispatches surging 60% YoY. VIDA electric scooter dispatches reached 28,798 units with 83% VAHAN retail growth. However, exports declined sharply to 27,330 units from 39,638 units YoY, a 31% drop, though global business showed 5% sequential growth. YTD FY'27 total dispatches rose 15.9% to 3,545,475 units.

  • · Exports in September 2026 fell 31% YoY to 27,330 units from 39,638 units, though global business grew 5% sequentially.
  • · YTD FY'27 exports grew 8.3% to 190,642 units from 175,997 units.
  • · Domestic ICE scooter dispatches surged 60% YoY to 100,354 units in September 2026.
  • · VIDA VX2 set a record by towing a passenger aircraft, recognized by Asia Book of Records.
  • · Hero MotoCorp partnered with Swiggy for road safety training under CSR initiative Ride Safe India.
  • · Company served as Title Sponsor of India’s Cricket Tour of New Zealand.
Eicher Motors Limited Market Update mixed materiality 7/10

01-10-2026

Royal Enfield (Eicher Motors) reported its highest-ever monthly sales of 1,33,958 motorcycles in September 2026, up 8% YoY, driven by strong domestic demand and festive-season readiness. However, exports declined 5% YTD, and models with engine capacity up to 350cc & EVs fell 26% in September and 9% YTD, partially offsetting overall growth. The company also launched the Himalayan 440 and Flying Flea C6 in Europe/UK, and retained the top spot in the FADA Dealer Satisfaction Survey 2026.

  • · Royal Enfield launched the Himalayan 440 at the inaugural Himalayan Basecamp in Ladakh, available in Sela Black, Mustang Brown, and Nelong White.
  • · Flying Flea C6 launched in five European cities (Paris, Barcelona, Rome, Berlin, London) with deliveries starting October 2026.
  • · Royal Enfield won the FADA Dealer Satisfaction Survey 2026 with 878 index points, second consecutive year.
  • · One Ride 2026 brought together 150,000+ riders across 60 countries through 1,600+ rides.
  • · Royal Enfield's Social Mission covers 10,500+ sq km of snow leopard habitat.
  • · Journeying Across the Himalayas third edition scheduled December 3-9, 2026 in New Delhi, with theme 'Becoming'.
  • · Royal Enfield launched Guerrilla 450 Apex and Goan Classic 350 in the Philippines, and Bullet 650 and Guerrilla Apex 450 in Cambodia.
  • · First Marquee Ride in Brazil completed with Royal Enfield Rally dos Sertões Expedition.
  • · Royal Enfield operates through 2074+ stores in India and 1212+ stores in 80+ countries.
Bajaj Auto Limited Market Update mixed materiality 7/10

01-10-2026

Bajaj Auto's total September 2026 sales rose 5% YoY to 538,443 units, driven by a 32% surge in exports to 243,987 units. However, domestic sales declined 9% YoY to 294,456 units, with 2-wheeler domestic volumes falling 12% to 239,771 units. For the Apr-Sep 2026 period, total sales grew 24% YoY to 2,987,135 units, with exports up 47% but domestic growth limited to 7%.

  • · September 2026: 2-wheeler domestic sales 239,771 units (down 12% YoY), exports 211,723 units (up 34% YoY).
  • · September 2026: CV domestic 54,685 units (up 5% YoY), CV exports 32,264 units (up 17% YoY).
  • · Apr-Sep 2026: 2-wheeler domestic 1,193,963 units (up 6% YoY), exports 1,312,550 units (up 47% YoY).
  • · Apr-Sep 2026: CV domestic 282,471 units (up 13% YoY), CV exports 198,151 units (up 44% YoY).
  • · Filing made under Regulation 30 of SEBI (LODR) Regulations, 2015.
Mahindra & Mahindra Limited General Updates mixed materiality 7/10

01-10-2026

Mahindra & Mahindra reported September 2026 auto sales of 114,874 vehicles, up 15% YoY, with SUV sales at 64,092 units (+14%) and a milestone of 1 lakh Electric Origin SUV billings. However, the Farm Equipment business saw a sharp 23% YoY decline in domestic tractor sales to 50,208 units, attributed to the festive season shift and a higher base from the GST rate cut, while tractor exports grew 62% to 1,892 units. Trucks & Buses sales rose 53% YoY to 2,912 vehicles, but total exports fell 7% YoY to 4,019 units.

  • · Farm Equipment domestic sales fell 23% YoY to 50,208 units in September 2026, while cumulative YTD domestic sales were 262,872 units, up 6% YoY.
  • · Tractor exports grew 62% YoY to 1,892 units in September 2026, and 16% YoY to 11,196 units YTD.
  • · Trucks & Buses (MTBD+SML) total sales grew 53% YoY to 2,912 units in September 2026, with MTBD alone up 87% YoY to 1,788 units.
  • · SML Mahindra sales grew 18% YoY to 1,124 units in September 2026.
  • · Total exports across all segments fell 7% YoY to 4,019 units in September 2026, though YTD exports rose 48% to 30,031 units.
  • · The festive season shift to October 2026 and a higher base from the September 2025 GST rate cut impacted tractor volumes.
  • · Mahindra Group has 324,000 employees across over 100 countries.
Hyundai Motor India Limited Market Update positive materiality 7/10

01-10-2026

Hyundai Motor India Limited reported its highest-ever total monthly sales of 77,916 units in September 2026, a 10.8% YoY increase, driven by domestic sales of 57,166 units (+10.9% YoY) and exports of 20,750 units (+10.4% YoY). The company noted this surpasses its previous record from July 2026 and expressed optimism for the festive season, supported by the upcoming Hyundai BAYON launch.

  • · The previous record was achieved in July 2026.
  • · Bookings for the Hyundai BAYON, an all-new nameplate for India, have opened.
  • · The press release was issued on October 1, 2026, and filed with both NSE and BSE.
Maruti Suzuki India Limited General Updates positive materiality 8/10

01-10-2026

Maruti Suzuki India Limited reported total sales of 236,013 units in September 2026, a 24.4% increase YoY from 189,665 units in September 2025. Domestic passenger vehicle sales grew 36.9% YoY to 181,838 units, driven by strong utility vehicle sales (up 62.1% YoY). However, sales to other OEM declined 44.3% YoY to 6,542 units, partially offsetting the overall growth.

  • · Utility vehicle sales surged 62.1% YoY to 78,911 units in September 2026, while passenger car mini/compact/mid-size segment grew 24.0% YoY to 91,887 units.
  • · Van sales (Eeco) grew 10.0% YoY to 11,040 units in September 2026.
  • · Light commercial vehicle (Super Carry) sales grew 18.1% YoY to 3,414 units in September 2026.
  • · Exports grew 4.8% YoY to 44,219 units in September 2026.
  • · In H1 FY 2026-27, total domestic sales (including LCV and OEM) reached 1,146,523 units, up 31.6% from 871,276 units in H1 FY 2025-26.
TVS Motor Company Limited General Updates positive materiality 8/10

01-10-2026

TVS Motor Company reported strong Q2 FY27 sales growth of 27% to 1.9 million units, driven by a 35% surge in international business (539K units) and a 133% jump in two-wheeler EV sales (186K units). September 2026 monthly sales rose 24% to 672,790 units, with three-wheelers up 57% and two-wheeler EVs up 110%. All segments showed robust growth with no declines reported.

  • · TVS Motor Company is part of TVS VENU and has manufacturing facilities in India and Indonesia.
  • · TVS Motor is the only two-wheeler company to have won the Deming Prize.
  • · Products lead in J.D. Power IQS and APEAL surveys; ranked No. 1 in J.D. Power Customer Service Satisfaction Survey for four consecutive years.
  • · Group company Norton Motorcycles is based in the United Kingdom.
  • · TVS Motor operates in 90 countries.

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