TVS Motor’s September sales hit 6.73 lakh units, up 24% YoY, eclipsing the CNBC‑TV18 poll of 6.37 lakh. The lift was driven by a 23% jump in two‑wheeler sales and a 110% surge in EV units to 65,799.
Hero MotoCorp followed suit with 7.66 lakh units, a 12% YoY rise that surpassed the 7 lakh forecast. Its ICE scooter dispatches jumped 60% to 7.10 lakh, while ICE Vahan registrations climbed 29% YoY.
The broader market mirrored the uptick: overall vehicle registrations rose 45% YoY in September, with two‑wheelers up 48% and pure EVs doubling. International business for TVS Motor grew 48% to 1.81 lakh units, and three‑wheelers surged 57% to 26,835.
Analysts point to the festive season as a catalyst, noting that the robust September figures could lift quarterly earnings. The data also aligns with the sector’s 2026 growth trajectory, where two‑wheeler demand is projected to outpace inflation.
Both companies have not yet released their Q4 guidance, but market observers expect a continuation of the upward swing as holiday sales peak. Investors will watch the upcoming earnings call on October 12 for more clarity.