TVS Motor Company posted total sales of 616,540 units in August 2026, marking a 21% rise compared to 509,536 units in the same month a year ago. The figure came in below the analyst estimate of 653,000 units.

August sales performance at a glance

The monthly sales data reflects a year-on-year improvement in volumes, with actual sales crossing the 600,000-unit mark. However, the result fell short of market expectations, as the consensus estimate stood at 653,000 units.

The table below summarises the key sales figures for August:

Segment-wise breakdown

Two-wheeler sales drove the overall growth, registering a 21% increase to 591,437 units from 490,788 units in August 2025. Domestic two-wheeler sales rose 18% to 433,796 units, while international business sales grew 29% to 174,452 units.

Electric vehicle (EV) sales saw exponential growth, surging 137% to 59,453 units from 25,138 units a year ago. Three-wheeler sales also expanded significantly, rising 34% to 25,103 units from 18,748 units.

What the numbers show

The year-on-year comparison indicates a volume increase of over 100,000 units, reflecting improved demand relative to the prior-year period. At the same time, the gap between actual sales of 616,540 units and the estimate of 653,000 units points to a miss against market expectations for the month. The strong growth in EV sales, which more than doubled year-on-year, highlights a shifting product mix within the two-wheeler segment.

TVS Motor Company has appointed Peyman Kargar as its new Director and Chief Executive Officer, effective January 27, 2027. The appointment was approved by the Board of Directors on August 28, 2026.

Leadership transition details

Kargar will serve in the rank of Whole Time Director and Key Managerial Personnel for a period of five years. He succeeds K. N. Radhakrishnan, who will continue as Director and CEO until the transition date. Following this, Radhakrishnan will serve as a Non-Executive Director until the ensuing Annual General Meeting scheduled in July 2027.

Profile and experience

Kargar currently serves as the President of International Business at TVS Motor Company. He brings over three decades of global automotive leadership experience across Europe, Asia, Africa, and the Middle East. His background includes roles in engineering, manufacturing, project management, quality, sales, marketing, and business development.

Prior to joining TVS Motor, Kargar was the Global Chairman and President of Infiniti, the luxury brand of Nissan. During his tenure there, which lasted until March 2023, he led the full value chain of the brand globally. Under his leadership, Infiniti achieved a 20% increase in volume and set a trajectory toward $1 billion in annual profit.

His previous roles include:

• Chairman and Senior Vice President for Nissan's Africa, Middle East, and India region
• CEO of the Datsun brand, overseeing operations in more than 80 countries
• Vice President of Sales and Marketing at Renault Group (2014–2017), managing 50 countries with responsibility for €4 billion turnover and 400,000 vehicle sales annually
• Managing Director of Renault Middle East and Country Manager Director in Iran

Kargar holds a Master of Business Administration from the London Business School and is a Mechanical Engineer from INSA de LYON.

Strategic context

The leadership transition occurs as TVS Motor Company consolidates its position in India and expands globally. In FY25-26, the company sold 5.9 million vehicles globally and delivered 30% revenue growth. The operating profit before tax rose 40% to ₹4,975 crore, while operating Ebitda margin improved to 12.9%.

International business currently contributes 29% of the company's sales volume and is growing at 33%. International sales reached a record 1.58 million units in FY26. Kargar's appointment aims to further grow the business through product innovation, premiumisation, and expansion into developed markets.

What the Numbers Show

TVS Motor's financial performance in FY26 underscores the momentum Kargar inherits. With revenue reaching ₹47,270 crore and operating profit rising 40%, the company is demonstrating strong profitability alongside volume growth. The international segment, which grew 33% to account for 29% of total sales, represents a critical growth engine. Kargar's prior success in scaling global operations, such as leading Infiniti's volume increase by 20%, positions him to potentially accelerate this international contribution further.

Management comments

Sudarshan Venu, Chairman of TVS Motor Company, stated that the appointment marks an important step for the company's future. He highlighted Kargar's deep industry experience and strategic vision.

Kargar expressed confidence in building on the company's momentum to enter a new phase of growth. He emphasized focusing on technology leadership, AI capabilities, quality, and customer centricity.

Radhakrishnan thanked the team for their support and expressed confidence in Kargar's ability to lead the company with distinction.