The global two-wheeler industry is undergoing a rare shake-up. TVS Motor has overtaken Yamaha and now ranks among the world’s top three two-wheeler makers by volume. The Chennai-based automaker has also claimed the top spot in India’s electric two-wheeler market. TVS’s rise is the result of years of steady market-share gains under the leadership of its 36-year-old chairman and managing director – and our sister publication Autocar Professional’s 2025 Person of the Year – Sudarshan Venu.

1. Sudarshan’s leadership has helped TVS evolve into the most compelling two-wheeler story to emerge from India
2. He has been TVS’s managing director since 2014 and became the chairman and MD in 2025
3. The company’s boldest move is the acquisition of vintage British brand Norton

TVS now third largest two-wheeler maker

TVS has overtaken Yamaha in sales

People who work with Sudarshan describe him as a man not easily categorised. He insists on structure and a clear emphasis on process, yet shows a willingness to test ideas that would once have been parked indefinitely. That tension between order and exploration mirrors where TVS itself sits today.

Under his leadership as the MD of TVS, the company has been moving up steadily on the value curve while snapping up incremental market share points every year. TVS is no longer a volume-focused manufacturer but one of the industry’s most structurally robust players.

With Sudarshan at the helm, TVS has emerged as the big winner in the Indian two-wheeler market, mercilessly wresting away shares from much larger players such as Honda and Hero.

More importantly, TVS has been gaining ground in the fastest-growing and most lucrative segments. In the four years to March 31, 2025, its share in scooters has risen from 15 percent to 25 percent. The iQube series, launched under his watch, has gained traction in a competitive e-scooter market, where TVS’s share has surged from 2 percent to 23 percent in the aforementioned period. Also, the company now controls 27 percent of the market for entry-premium motorcycles.

Add to this a formidable export footprint. TVS has emerged as the second-largest Indian two-wheeler brand in terms of exports, behind only Bajaj, generating nearly a quarter of its revenue from international markets. But unlike Bajaj, TVS has achieved this without ceding ground domestically.

It is difficult to pinpoint a single element in Sudarshan’s strategy that fuels this success. There is no singular winning product or cycle. Growth has come from multiple contributors – scooters, premium motorcycles, EVs and exports.

TVS’s approach towards the segment leaders

Another hallmark of his leadership has been realism. The company has not sought to dominate every segment. Instead, it sidestepped areas where competition was too entrenched – avoiding Hero’s stronghold in commuters, steering clear of Royal Enfield’s 350cc-plus empire and declining to outmuscle Bajaj in three-wheelers. TVS is also launching a separate premium distribution channel, where it can cater to more affluent customers.

The Norton acquisition: A bold move

Among the company’s boldest moves is the acquisition of vintage British brand Norton – a strategic signal that TVS is no longer content being a mid-market player and that it wants a seat at the global premium table, a space long dominated by European and Japanese brands.

The importance of the Norton acquisition lies not just in volume potential. It represents capability uplift: engineering processes, quality systems and brand discipline that tend to elevate the entire group. The acquisition of Italian engineering consultancy Engines Engineering further strengthens this R&D muscle, with the experienced team working collaboratively with TVS engineers.

No other Indian two-wheeler manufacturer is attempting something this global, this premium, this brand-sensitive. That is why the moment of overtaking Yamaha matters. It is not merely about passing a number – it announces a new category of ambition.

Under Sudarshan’s stewardship, TVS Motor has not merely grown – it has evolved into the most compelling two-wheeler story to emerge from India in recent times. His leadership offers a blueprint for Indian manufacturing ambition built not on spectacle but on substance.

It is for these reasons that our sister publication, Autocar Professional, recognises Sudarshan Venu as its Person of the Year for 2025.