TVS Motor Company

July 6 (Reuters) - India's retail car sales rose 28.6% in June, with compressed natural gas and other alternative-fuel-powered vehicles accounting for a record 40.35% of total sales, after fuel prices jumped following the war in Iran, the Federation of Automobile Dealers Associations (FADA) said on Monday.

(Reporting by Kashish Tandon in Bengaluru; Editing by Rashmi Aich)

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July 2 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• TVS MOTOR - 2-WHEELERS SALES GROWS 47% IN JUNE YOY

Source text: [ID:]

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By Aditi Shah

NEW DELHI, June 29 (Reuters) - India's capital New Delhi will offer a cash incentive of over$1,000 to car owners willing to scrap their old vehicle for an EV, according to a new policy finalised by the government on Monday in a move aimed at reducing high levels of air pollution.

New Delhi is one of the world's most polluted cities with air quality worsening in the winters when dense, stagnant air traps emissions from crops burning in neighbouring states, vehicle exhaust and construction dust.

Here are some details:

• The local government in New Delhi finalises new electric vehicle policy with an outlay of 150 billion rupees ($1.59 billion) over four years to incentivise buyers of electric two-wheelers, cars and small trucks, as well as setting up EV chargers.

• To offer $1,060 as scrapping incentive to those who trade in cars bought before April 1, 2020 for an EV.

• Those buying a battery EV priced at up to 3 million rupees will be exempt from paying road tax and registration fees, which typically amount to 4%-10% of the car's price.

• Buyers of electric scooters and motorbikes will get a cash incentive of 30,000 rupees in the policy's first year, reducing to 10,000 rupees by year three.

• Delhi government will only register electric two-wheelers from April 1, 2028, forcing buyers to move away from gasoline and other powertrains.

• Will also incentivise setting up 32,000 EV charging points across Delhi.

• Hybrid vehicles have not been included in the policy which is expected to come into effect from July 1.

• Policy will provide a big boost to EV players like Tata Motors TAMO.NS and Mahindra & Mahindra MAHM.NS as well as electric two-wheeler makers TVS Motor TVSM.NS, Bajaj Auto BAJA.NS and Ather Energy.

(Reporting by Aditi Shah; Editing by Susan Fenton)

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June 15 (Reuters) -

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S MAY TOTAL DOMESTIC PASSENGER VEHICLE SALES 4,38,854 UNITS

• SIAM - INDIA'S MAY 3-WHEELER SALES 70,720 UNITS

• SIAM - INDIA'S MAY 2-WHEELER SALES 19,02,209 UNITS

• SIAM - LOWER BASE EFFECT OF PREVIOUS MAY, DEMAND CREATED DUE TO REDUCED GST RATES GETTING REFLECTED IN HIGHER OFF-TAKE THIS MONTH

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June 8 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA AUTODEALERS BODY FADA: MAY OVERALL AUTO RETAIL SALES ROSE 9.55% Y/Y

• INDIA’S FADA:MAY PASSENGER VEHICLE RETAIL SALES ROSE 23.25% Y/Y

• INDIA’S FADA:MAY COMMERICAL VEHICLE RETAIL SALES ROSE 5.29% Y/Y

• INDIA’S FADA: MAY TWO-WHEELERS RETAIL SALES ROSE 7.54% Y/Y

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June 5 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• TVS MOTOR - TVS HLX SERIES CROSSES FIVE MILLION SALES GLOBALLY

Source text: ID:nBSE9SKkY7

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June 1 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• TVS MOTOR - REGISTERS HIGHEST EVER SALES AT 567,000 UNITS IN MAY 2026

• TVS MOTOR - REPORTS 31% SALES GROWTH IN MAY 2026

Source text: ID:nNSE3gFM5T

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Adds details from paragraph 3 onwards

May 22 (Reuters) - Indian automaker Eicher Motors EICH.NS beat quarterly profit estimates on Friday, as last year's tax cuts boosted demand for its high-margin 350-cc motorcycles.

The Royal Enfield Himalayan 450 adventure bike manufacturer posted a near 12% rise in consolidated net profit to 15.2 billion rupees ($158.85 million) for the March quarter from a year ago.

Analysts had estimated a quarterly profit of 14.87 billion rupees, according to data compiled by LSEG.

India's top premium motorcycle maker was the biggest beneficiary of the September tax cuts that lowered duties from 28% to 18% on the 350-cc category, which occupies a large chunk of the company's portfolio.

Its total revenue jumped 16% to 60.80 billion rupees, beating analysts' average estimate of 59.98 billion rupees.

After posting higher quarterly profits, peers Bajaj Auto BAJA.NS, TVS Motor TVSM.NS and Hero MotoCorp HROM.NS are relying on a premium product mix, export expansion and cost controls to cushion higher shipping expenses and commodity prices stemming from the closure of the Strait of Hormuz.

(Reporting by Kashish Tandon and Urvi Dugar in Bengaluru; Editing by Harikrishnan Nair and Shreya Biswas)

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Rewrites paragraph 1, adds stock closing level in the last bullet

May 18 (Reuters) - India's Jana Small Finance Bank JANA.NS said on Monday that industrialist Venu Srinivasan-led TVS Venu group will acquire a 9.9% stake in the lender through a mix of a primary issuance of equity warrants and a secondary share purchase.

• GWC Family Fund Investments, part of the TVS Venu group, will subscribe to warrants representing a 5.64% stake via a preferential issue priced at 464.82 rupees per warrant, amounting to 3.17 billion rupees ($32.90 million).

• The warrant issue is at a 5.3% discount to Jana's closing price on Friday.

• Separately, TVS Motor TVSM.NS will acquire a 4.9% stake in Jana from its promoters for 1.93 billion rupees.

• Together, these transactions will take TVS’s total holding to 9.9% on a fully diluted basis, Jana said.

• Jana has also approved additional warrant issuances to investors including Capri Global Ventures, Singularity Large Value Fund, and ICM Finance, taking the total issue size to 7.29 billion rupees for a 12.94% stake.

• Shares of Jana Small Finance Bank ended 5.9% lower, while TVS Motor declined 5.1%.

($1 = 96.3000 Indian rupees)

(Reporting by Kashish Tandon and Nishit Navin in Bengaluru; Editing by Eileen Soreng)

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May 15 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• TVS MOTOR - UNIT ENTERS ASSET TRANSFER AGREEMENTS WITH CALLISTA ASSET MANAGEMENT 33 GMBH

• TVS MOTOR - CASH CONSIDERATION IS ESTIMATED TO BE CHF 16 MILLION

Source text: ID:nNSE6v7pmc

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May 14 -

• INDIA'S APRIL TOTAL DOMESTIC PASSENGER VEHICLE SALES UP 25.4% Y/Y -INDUSTRY BODY

• INDIA'S APRIL TOTAL DOMESTIC PASSENGER VEHICLE SALES AT 437,312 UNITS - INDUSTRY BODY

• INDIA'S APRIL TOTAL TWO-WHEELER SALES UP 28.4% Y/Y AT 18,72,691 UNITS - INDUSTRY BODY

• INDIA AUTO INDUSTRY BODY SIAM SAYS THOUGH THERE ARE CONCERNS OF HIGH COMMODITY PRICES DISRUPTIONS IN WEST ASIA, INDUSTRY WITNESSING GOOD DEMAND

Source text: [ID:]

May 13 (Reuters) - TVS Motor TVSM.NS, India's third-largest two-wheeler maker, reported a 31% rise in its fourth-quarter profit on Wednesday, as soaring raw material costs offset strong local demand for its scooters and motorbikes.

The Jupiter scooter maker reported a profit of 9.98 billion rupees ($104.28 million) for the March quarter, missing analysts' estimate of 10.09 billion rupees, according to data compiled by LSEG.

($1 = 95.7050 Indian rupees)

(Reporting by Urvi Dugar in Bengaluru; Editing by Subhranshu Sahu)

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May 5 (Reuters) - India's retail car sales rose in April, an auto dealers' body said on Tuesday, although the Middle East crisis and its impact on fuel prices could hurt demand going into the summer months.

• Passenger vehicle sales rose 12.2% year-on-year to 407,355 units, a record for April, helped by a boost from last September's rate cuts, easier financing conditions and strong demand from smaller towns and rural areas, the Federation of Automobile Dealers Associations said

• Overall vehicle retail sales climbed 12.9% to 2.6 million units, also an all-time high for April, with five out of six segments posting record volumes

• Dealers warned that uncertainty stemming from the Middle East could weigh on sentiment if higher crude prices spill over into fuel costs, and also flagged risk from heatwaves and supply constraints

• Indian state fuel ​retailers have raised prices of liquefied petroleum gas for industrial customers and jet fuel sold to ​foreign carriers, but there ​has been no increase in retail prices ‌of ⁠gasoline, gasoil, LPG or jet fuel for Indian carriers

• For April, rural car sales jumped 20.4%, nearly three times faster than urban growth of 7.1%, supported by a revival in small cars

• Inventory levels edged up to around 28 to 30 days, within what the association considers a "healthy range", though dealers urged manufacturers to go slow on dispatches as demand typically softens in May and June

(Reporting by Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala)

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Adds details throughout

May 4 (Reuters) - India's Ather Energy ATHR.NS posted a significantly narrower quarterly loss on Monday, supported by strong demand for its e-scooters, particularly its best-selling "Rizta" model.

The Bengaluru-based EV maker reported a loss of 1 billion rupees ($10.54 million) for the quarter ended March 31, down from a loss of 2.34 billion rupees last year.

Here are a few key details:

• The company's sales momentum remained strong, with fourth-quarter volumes surging 76% to a record 83,418 units. This pushed revenue up 73.8% to 11.75 billion rupees.

• Ather has been expanding its presence in northern and central India, banking on the Rizta, a family-focused scooter, to capture a larger share of the market.

• Although an early entrant in India's electric two-wheeler market, launching its 450 series of scooters in 2018, Ather faced intense competition from larger rivals such as TVS Motor TVSM.NS and Bajaj Auto BAJA.NS, which benefit from stronger financial resources and wider distribution networks.

• The company also highlighted challenges, noting that the past fiscal year was affected by multiple supply chain crises. It also expects commodity prices to remain volatile and elevated in the near term due to ongoing geopolitical uncertainties.

• Hero MotoCorp HROM.NS, India's largest two-wheeler maker, continues to hold a 30.14% stake in Ather Energy.

($1 = 94.8737 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru; Editing by Sherry Jacob-Phillips)

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April 20 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• ENTERS JOINT DEVELOPMENT AGREEMENT WITH HYUNDAI MOTOR ON APRIL 20, 2026

• AGREEMENT COVERS DEVELOPMENT AND COMMERCIALIZATION OF ELECTRIC MICROMOBILITY 3-WHEELERS

Source text: ID:nBSE4Nf7zB

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April 14 (Reuters) - India's auto industry body on Tuesday flagged concerns on the possible adverse impact of the Middle East war on automotive production, input and fuel prices, and freight rates.

Here are some key details:

• The West Asia conflict is expected to pose short-term challenges for the auto industry, Shailesh Chandra, president of Society of Indian Automobile Manufacturers (SIAM), said.

• Uncertainties arising from the West Asia conflict, particularly prices of crude oil and commodities, higher exchange rates and disruptions in shipping routes, remain a concern for the auto sector, the industry body said.

• In the near term, the conflict may weigh on export volumes, and the evolving situation reinforces the need for calibrated supply chains and diversification of energy inputs, analysts at Antique Stock Broking said.

• In the entry-level segment in April so far, buyer enquiries are strong, but converting them to sales is taking longer, the SIAM president said.

• Car sales by manufacturers to dealers in the world's third-largest car market rose 7.9% to 4.6 million units in the financial year 2026, industry data showed, compared to the previous fiscal year's 2%, as consumer sentiment improved due to tax cuts.

• In September 2025, India slashed taxes on larger SUVs to 40% as an additional levy was dropped and on small cars and two-wheelers to 18% from 28%, helping support demand across segments.

• Total domestic two-wheeler sales in the financial year 2026 rose 10.7% on-year compared to 9.1% growth last year, the industry data showed.

(Reporting by Aditi Shah and Anuran Sadhu; Editing by Harikrishnan Nair)

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April 8 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• TVS MOTOR - LAUNCHES THE ARMADO 200

Source text: [ID:]

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April 6 (Reuters) - India’s auto dealers warned of possible supply disruptions in the near term, from the West Asia conflict, even as Indian retail vehicle sales rose 25.28% in March, closing the financial year on a strong note on sustained momentum from tax cuts that improved affordability, the Federation of Automobile Dealers Associations (FADA) said on Monday.

Passenger vehicle sales rose 21.48% year-over-year in March, while two-wheeler sales rose 28.68% and commercial vehicle sales rose 15.12%, FADA said.

(Reporting by Meenakshi Maidas in Bengaluru)

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Repeats to additional subscribers, with no change to text

By Aditi Shah

NEW DELHI, March 26 (Reuters) - India has asked automakers and parts suppliers to tighten production schedules to conserve fuel amid fears of shortages caused by disrupted oil and gas imports from the Gulf due to the Iran war, a government memo seen by Reuters shows.

The heavy industries ministry has also urged companies to shift factory operations from oil-based fuels to electricity and to use recycled aluminium or alternative materials as shortages and costs rise, according to the March 25 advisory.

For India, one of the world's largest oil and gas importers, the advisory underscores the government's mounting concern over the conflict and its disruption to energy flows, supply chains and availability of raw materials.

India's ministry of heavy industries did not immediately respond to a request for comment.

The government has already prioritised use of gas for households over industries, which get only about 80% of their average needs.

Some parts suppliers to India's leading carmakers like Maruti Suzuki MRTI.NS, Tata Motors TAMO.NS and Mahindra MAHM.NS are already reporting a shortage of gas to power operations at a time when vehicle sales are booming.

The ministry wants the sector to do more.

"Wherever technically feasible, a transition from oil-based fuels to electricity may be considered. Further, production schedules may be optimised to minimise idle and standby fuel consumption," the ministry said in its note.

The government wants companies to use recycled aluminium where possible and explore the use of alternative materials for packaging and other non-critical applications to reduce "demand pressure" amid shortages which are already affecting beer makers.

"I don't know how much we can change in the factory, but the takeaway is that this war is going to go on for a long time and we should be prepared," said an executive at an Indian carmaker.

(Reporting by Aditi Shah, Editing by William Maclean)

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By Aditi Shah

NEW DELHI, March 26 (Reuters) - India has asked automakers and parts suppliers to tighten production schedules to conserve fuel amid fears of shortages caused by disrupted oil and gas imports from the Gulf due to the Iran war, a government memo seen by Reuters shows.

The heavy industries ministry has also urged companies to shift factory operations from oil-based fuels to electricity and to use recycled aluminium or alternative materials as shortages and costs rise, according to the March 25 advisory.

For India, one of the world's largest oil and gas importers, the advisory underscores the government's mounting concern over the conflict and its disruption to energy flows, supply chains and availability of raw materials.

India's ministry of heavy industries did not immediately respond to a request for comment.

The government has already prioritised use of gas for households over industries, which get only about 80% of their average needs.

Some parts suppliers to India's leading carmakers like Maruti Suzuki MRTI.NS, Tata Motors TAMO.NS and Mahindra MAHM.NS are already reporting a shortage of gas to power operations at a time when vehicle sales are booming.

The ministry wants the sector to do more.

"Wherever technically feasible, a transition from oil-based fuels to electricity may be considered. Further, production schedules may be optimised to minimise idle and standby fuel consumption," the ministry said in its note.

The government wants companies to use recycled aluminium where possible and explore the use of alternative materials for packaging and other non-critical applications to reduce "demand pressure" amid shortages which are already affecting beer makers.

"I don't know how much we can change in the factory, but the takeaway is that this war is going to go on for a long time and we should be prepared," said an executive at an Indian carmaker.

(Reporting by Aditi Shah, Editing by William Maclean)

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March 24 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• DECLARES DIVIDEND OF 12 RUPEES PER SHARE

Source text: [ID:]

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March 13 (Reuters) - India's domestic car dispatches to dealers rose for the fifth straight month in February, data from an industry body showed on Friday, helped by tax cuts that have lowered prices across most models.

"While the month of March has festive drivers... the recent conflict in West Asia remains a concern... could impact the manufacturing processes and exports," Rajesh Menon, Director General of Society of Indian Automobile Manufacturers (SIAM), said.

Here are some key details:

• Passenger vehicle dispatches jumped 10.6% to 417,705 units in February, compared with 377,689 units a year earlier.

• Tax reductions continue to fuel growth, extending momentum for fifth consecutive month.

• In September 2025, India slashed taxes on larger SUVs to 40% as an additional levy was dropped and on small cars and two-wheelers to 18% from 28%, helping support demand across segments.

• Vehicle sales picked up during the ongoing wedding season, supported by strong bookings, inventory build-up and new model launches.

• Domestic demand is expected to remain strong, though exports could soften on reduced shipments to Africa and the Middle East, analysts added.

• SIAM warns the ongoing Middle East crisis could hit production and exports if supply chains are disrupted.

• A shortage of gas - crucial for paint shops and component manufacturing - may affect production, analysts said, though they expect only near-term impact on Indian manufacturers due to inventory buffers.

• Domestic demand to stay robust but exports could weaken due to reduced shipments to Africa and the Middle East- Axis Capital

• India, the world's third-biggest car market, has an auto industry that accounts for 7.1% of its GDP.

• Tax cut-driven growth is likely to sustain for several quarters, a dealer's body said last week.

(Reporting by Meenakshi Maidas and Urvi Dugar in Bengaluru)

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Rewrites, adds details, background, auto body president comment

By Meenakshi Maidas and Yagnoseni Das

March 5 (Reuters) - India's retail vehicle sales jumped 25.6% in February, as last year's tax cuts and a pick-up in weddings drove demand for two-wheelers and passenger vehicles, the auto dealers' body said on Thursday.

Analysts had expected double‑digit year‑on‑year growth in February, supported by price cuts, new model launches and firm rural demand, after India cut taxes on vehicles last September to boost consumption in the wake of steep U.S. tariffs.

Two-wheeler sales jumped 25% from a year ago in February, while passenger vehicle sales climbed 26.1%, the Federation of Automobile Dealers Associations said, adding that demand was supported by weddings with enquiries rising across rural and urban markets.

The dealer body's president, C.S. Vigneshwar, told Reuters that growth is likely to sustain for several quarters, if not years, noting that the industry had always expected the impact of the tax cuts to be "seismic" rather than seasonal.

Over two-thirds of dealers surveyed by the association expect retail sales to grow in March, buoyed by festival-driven demand and fiscal year-end purchases. However, dealers have flagged supply constraints for some models.

Vigneshwar said that there has been no immediate impact on logistics for vehicles from the Middle East war.

Passenger vehicle inventory, or the average time a car remained on the showroom floor, fell for a fifth consecutive month to 27–29 days from 32-34 days in January.

(Reporting by Meenakshi Maidas and Yagnoseni Das Bengaluru; Editing by Eileen Soreng and Mrigank Dhaniwala)

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Feb 26 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• ANNOUNCES STRATEGIC EXPANSION INTO SOUTH AFRICA

• PARTNERS WITH NEXUS COLLECTIVE IN SOUTH AFRICA

Source text: ID:nBSE2mLtn4

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Feb 13 (Reuters) -

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S JAN TOTAL DOMESTIC PASSENGER VEHICLE SALES 4,49,616 UNITS

• SIAM - INDIA'S JAN 2-WHEELER SALES 19,25,603 UNITS

• SIAM - INDIA'S JAN 3-WHEELER SALES 75,725 UNITS

• SIAM: NEW BUDGET INITIATIVES, POLICY TAILWINDS EXPECTED TO DELIVER LONG-TERM BENEFITS, SUPPORT GROWTH IN MEDIUM TERM

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Feb 1 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• TVS MOTOR - RECORDS 511,766 UNITS SOLD IN JANUARY 2026

Source text: ID:nBSE95FXWG

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Adds details, background throughout

Jan 30 (Reuters) - India's Ola Electric OLAE.NS said on Friday it would lay off 5% of its workforce in a restructuring effort aimed at improving profitability through greater automation.

The company is "doubling down" on speed and discipline through increased automation across its front-end operations, it said in a statement, adding that it is building a "leaner organisation" positioned for long-term, profitable growth.

The layoffs translate to roughly 620 jobs, based on the company's headcount of 12,396 employees as of March 31, 2025, according to its annual report and Reuters calculations.

The SoftBank-backed company had slashed more than 1,000 jobs at its front-end operations in March last year, citing increased automation, which improved margins.

Ola Electric, once commanding half of India's e-scooter market, has lost ground to legacy players such as Bajaj Auto BAJA.NS and TVS Motor TVSM.NS, which widened distribution and rolled out competing models, as well as to rival Ather Energy ATHR.NS.

After its stellar stock market debut in August 2024, the company was hit by a series of setbacks, from servicing delays to registration issues, knocking it down the pecking order of India's electric two-wheeler market.

While the company's shares doubled within weeks of its listing, rising customer complaints over service issues and stalling sales have since pushed its stock down by more than 57%.

MARCH TO PROFITABILITY

Sales for Ola Electric, which is yet to turn a profit, slumped 51% in 2025, government data showed, with registration issues impacting volumes early on in the year.

During its second-quarter earnings, Ola lowered full-year revenue target and maintained its margin forecast for the core automotive business as it shifts focus to profitability over volumes.

The Bengaluru-based firm expects fiscal 2026 revenue to be between 30 billion rupees and 32 billion rupees ($326.3 million-$348.1 million), compared with 42 billion–47 billion rupees forecast earlier. Its revenue was 46.65 billion rupees in fiscal 2025.

Ola is betting on in-house cell manufacturing to turn a profit, and recently announced that it would separately sell those cells to startups and businesses.

($1 = 91.9310 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Writing by Abinaya Vijayaraghavan; Editing by Janane Venkatraman and Shilpi Majumdar)

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Jan 28 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• Q3 PROFIT 9.4 BILLION RUPEES; IBES EST. 9.8 BILLION RUPEES

• Q3 REVENUE FROM OPERATIONS 124.76 BILLION RUPEES; IBES EST. 122.89 BILLION RUPEES

• RECORDS Q3 CHARGE OF 413.7 MILLION RUPEES DUE TO INDIA LABOUR CODES

Source text: ID:nnAZN4S5952

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Jan 13 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S DEC TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,99,216 UNITS

• SIAM - LOOKING AHEAD, INDUSTRY EXPECTS POSITIVE MOMENTUM TO CONTINUE WELL INTO 2026

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S DEC DOMESTIC 3-WHEELER SALES 61,924 UNITS

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S DEC DOMESTIC 2-WHEELER SALES 15,41,036 UNITS

• SIAM - WHILE REMAINING WATCHFUL OF GEOPOLITICAL DEVELOPMENTS, INDUSTRY EXPECTS FY2025–26 TO CLOSE ON POSITIVE GROWTH TRAJECTORY

Source text: [ID:]

Further company coverage: ASOK.NS

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