TVS Outnumbers Yamaha to Become World’s Third Biggest Two-Wheeler Brand

TVS Motor Company is witnessing a new saga of success over the last couple of years as it is shattering milestone after milestone

TVS Motor Company has become the world’s third largest two-wheeler company in CY 2025 by racing past Yamaha. According to the global sales data, the Indian brand retailed 5.46 million units last year while the Japanese brand overall sales stood at around 5 million units. Honda tops the list with total sales of 16.44 million units worldwide, followed by yet another Indian brand in the form of Hero MotoCorp at 6.25 million units. The dethroning of Yamaha from the third spot by TVS is seen as a rare reshuffule in the global two-wheeler industry.

TVS sales have been consistently increasing not only in India but also around the world. It sold a total of 4.52 million units in 2024 and hence registered a YoY growth of 20.7 percent in 2025 with volumes climbing to 5.46 million. This rise in sales numbers indicate that made-in-India motorcycles and scooters have found global acceptance, predominantly in Africa, Southeast Asia and Latin America.

The Hosur-based two-wheeler brand is currently the third biggest company in India after Hero and Honda. It has a market share of 19-20 percent in the two-wheeler segment. Industry insiders believe that the emerging trend of premiumisation with exceptional rise in the sales of 125cc+ models has helped TVS up to a huge extent in claiming the third position from Yamaha.

TVS is the biggest brand in the electric two-wheeler segment in India with models like iQube and Orbiter. It clocks an average monthly sales of 30k+ units in the domestic market with a market share exceeding 30 percent. Similarly, the export business is flourishing at an unprecedented pace with demand for premium motorcycles increasing with each year passing.

Yamaha, on the other hand, is more of a niche segment player as it has no presence in several mass-market product categories. Furthermore, mostly Yamaha’s sales volumes come from developed nations where demand is not as much as in emerging markets such as India, Indonesia and Brazil. The demand growth in developed markets is relatively slower than emerging countries.

Yamaha had retailed around 4.96 million units in 2024 and hence, the volumes were more or less the same in 2025 as well at 5 million units. While sales witnessed a rise in Japan, they declined by a small margin in Europe and the United States due to slow demand. In emerging markets like Indonesia, Philippines and Thailand, the sales increased but went down in Vietnam due to a temporary halt in production and shipments.

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