TVS Motor Company’s first electric scooter, the iQube, has reached a major milestone in its EV journey. As of early May 2025, cumulative wholesales of the iQube have crossed 6.26 lakh units in the domestic market, reflecting a rapid surge in demand over the past year. This includes a remarkable 3 lakh units sold in just the last 13 months — a clear indication of its growing popularity among electric two-wheeler buyers.
Accelerated Sales Momentum
Initially launched in January 2020, the iQube saw its first 1 lakh sales take slightly more than three years. However, the pace has significantly picked up in recent times — it took just 10 months to add the second lakh and barely over a year for the next 3 lakh units. TVS officially crossed the 3 lakh wholesale mark for FY2025 in early May, completing the journey to 6 lakh units in just 65 months since launch.
Strong Performance in FY2025
The fiscal year 2025 proved to be a landmark for TVS Motor. The company reported record-high scooter sales of over 18 lakh units (18,13,103 to be exact), registering a 25% year-on-year growth. This total includes the petrol-powered Jupiter, NTorq, and Zest models, along with the iQube electric scooter. The iQube alone contributed 2,72,605 units — a strong 15% share of TVS’s overall scooter volume. With this performance, TVS claimed a 26% share of the domestic scooter market, which posted total sales of 68.5 lakh units in FY2025.
Retail Sales Reflect Real-World Demand
While wholesale numbers indicate factory despatches, retail sales — which represent actual customer purchases — tell a more accurate story. According to VAHAN data (excluding Telangana), total iQube retail sales from January 2020 to May 2025 stood at 5,58,461 units. The growth has been especially notable in the last three financial years.
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FY2023: 82,107 units
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FY2024: 1,83,190 units (123% growth YoY)
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FY2025: 2,37,911 units (30% growth YoY)
This growth has helped TVS secure a 21% share of India’s electric two-wheeler market in FY2025, making it the second-largest player after Ola Electric.
Leading the Market in FY2026
TVS has started FY2026 on a strong footing. In April 2025, the iQube became the top-selling electric two-wheeler in India for the first time since its debut, and it maintained that lead into May. Early sales data for June shows the trend continuing, with 11,841 units sold in the first 14 days alone. That’s a 27% share of the 43,917 electric two-wheelers sold during the same period.
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