# Collectively, Indian manufacturers continue to trail their Japanese rivals by over 10 million units.

*business · news · 2026-04-13 · The Hindu Business Line*

## Key points

- TVS Motor has overtaken Yamaha to become the world's third-largest two-wheeler manufacturer by volume in 2025.
- TVS Motor's market share in India rose to 18.89% in FY26, narrowing the gap with Honda.
- TVS became India's electric two-wheeler market leader in FY26, surpassing Ola Electric with 24% share.
- Exports, especially to Africa and Latin America, are now a key growth and margin driver for TVS.
- Premiumisation and a richer product mix are structurally improving TVS's earnings and market positioning.

**Companies:** TVS Motor Company, Hero MotoCorp, Bajaj Auto
**Countries:** India, Japan

[Read the full story on The Hindu Business Line](https://www.thehindubusinessline.com/specials/corporate-file/tvs-motor-bikes-into-global-third-spot/article70855154.ece)

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