Bajaj and TVS Drive Rise in India's Motorcycle Exports

India's motorcycle exports have seen a significant rise, with Bajaj Auto and TVS Motor Company leading the charge. The two companies together accounted for 1.38 million motorcycle exports, or 76 percent of the total, in the first four months of the fiscal year.

## Bajaj, TVS Lead India's Motorcycle Exports

Bajaj Auto and TVS Motor Company together accounted for 1.38 million motorcycle exports, or 76 percent of the total. Much of the demand is concentrated in the 100-125cc segments, which accounted for 1.22 million units, or 68 percent of all motorcycle exports.

Bajaj Auto exported 854,991 motorcycles between April and July, up 48 percent year on year (YoY). Its 100-110cc exports nearly doubled to 378,941 units, while 110-125cc exports rose 36 percent to 229,677 units.

Africa has been a major growth driver for Bajaj, with the company reporting that its retail volumes in that market doubled in Q1 FY2027. The Boxer 125 Heavy Duty has been one of the key models behind this growth, particularly in Nigeria. Bajaj has also seen strong demand in Latin America, with retail volumes in Brazil rising 50 percent in Q1.

### TVS Exports Rise 31 Percent

TVS Motor exported 529,041 motorcycles in the first four months of FY2027, up 31 percent. This was 35,509 units more than its domestic motorcycle sales during the same period.

Its 100-110cc exports, comprising models such as the Sport and Star City, rose 54 percent to 156,308 units. The 125cc category grew 27 percent to 315,575 units, with the Star City 125, sold as the HLX 125 in overseas markets, being a major contributor. TVS exported 85,898 more 125cc motorcycles than Bajaj during the period.

### India's Motorcycle Exports Could Cross 5 Million

India exported a record 4.47 million (44.7 lakh) motorcycles in FY2026. The 1.81 million units shipped in the first four months of FY2027 already represent 40.5 percent of that figure.

At the current monthly run rate of around 453,000 motorcycles, India could export approximately 5.44 million (54.4 lakh) motorcycles in FY2027, taking annual exports beyond the 5 million mark for the first time.

| **Company** | **Motorcycle Exports (April-July)** | **YoY Growth** | | --- | --- | --- | | Bajaj Auto | 854,991 | 48% | | TVS Motor | 529,041 | 31% |

| **Segment** | **Motorcycle Exports (April-July)** | **Percentage of Total Exports** | | --- | --- | --- | | 100-125cc | 1,220,000 | 68% | | 100-110cc | 378,941 | - | | 110-125cc | 229,677 | - |

| **TVS 125cc vs Bajaj 125cc** | **TVS 125cc Exports** | **Bajaj 125cc Exports** | **Difference** | | --- | --- | --- | --- | | April-July | 315,575 | 229,677 | 85,898 |