TVS Motor Company TVS Motor Company expanded its TVS Raider Super Squad Edition on July 30, 2026, with the launch of a new Doctor Doom-inspired variant. The new model, priced at ₹95,320 (ex-showroom Delhi), introduces a spectral green colourway with a multi-tone travel finish that transitions from green to brown. This product expansion strengthens the brand’s position in the 125 cc segment by combining expressive styling with existing performance features.

The variant was unveiled following the post-credit sequence of the film Spider-Man: Brand New Day in select Indian theatres, mirroring Marvel’s cinematic tradition. The design draws on the commanding presence of Doctor Doom, aiming to appeal to young riders seeking distinctive aesthetics. The new edition is part of an ongoing collaboration between TVS Motor and Marvel, which began in 2023 with Iron Man and Black Panther themes and expanded in 2025 with Deadpool and Wolverine editions.

Key Features and Specifications

The TVS Raider Super Squad Edition retains the core mechanical and technological specifications of the base model while adding the new visual identity. Key features include:

The motorcycle continues to leverage iGO Assist technology for enhanced acceleration and effortless rideability. The top variant includes dual disc brakes with single-channel ABS, positioning it as one of the safer options in its class. Wider tyres are standard across the edition to provide greater stability.

Market Context and Availability

The Doctor Doom edition marks the latest chapter in TVS Motor’s successful partnership with Marvel. The initial Super Squad Edition launched in 2023 established India’s first Marvel-themed motorcycle designs. Subsequent releases in 2025 featuring Deadpool and Wolverine further solidified the brand’s engagement with comic book enthusiasts. The new variant will be available soon across authorised TVS Motor dealerships.

What the Numbers Show

The pricing of ₹95,320 positions the Doctor Doom variant at the premium end of the 125 cc commuter segment. By bundling advanced connectivity features—such as the LCD cluster with over 85 connected functions—with a niche thematic design, TVS Motor appears to be targeting a specific demographic willing to pay a premium for brand differentiation rather than purely functional upgrades. This strategy leverages the emotional connection fans have with the Marvel universe to drive sales in a competitive commuter market.

TVS Motor Company reported its strongest-ever first quarter performance for FY27, with total sales volume growing 28% year-on-year to 1.63 million units from 1.28 million units in Q1 FY26. Revenue for the quarter climbed 38% to ₹13,896 crore compared to ₹10,081 crore in the same period last year, driven by robust domestic demand, accelerating EV adoption, and record international business volumes.

Record Financial Performance Across All Metrics

The company posted its highest-ever operating EBITDA and profit before tax in a single quarter. Operating EBITDA margin improved by 30 basis points to 12.8% compared to 12.5% in Q1 FY26. PBT for the quarter includes a fair valuation gain on investments of approximately ₹150 crore, compared to approximately ₹28 crore in Q1 FY26. The company's long-term facility credit rating was also upgraded from CARE AA+ to AAA during the quarter.

The following table summarises the key financial metrics for Q1 FY27 versus Q1 FY26:

Volume Growth Across Segments

Domestic 2-wheeler ICE sales grew 21% against industry growth of 13%, while 2-wheeler international ICE sales grew 31%. Overall 2-wheeler ICE sales grew 23% against industry growth of 21%. The EV segment delivered standout growth, with 2-wheeler EV sales rising 86% year-on-year. The company sold 1,30,000 EV units in Q1 FY27, compared to 70,000 units in Q4 FY26. Three-wheeler total sales grew 48% to 67,000 units from 45,000 units in Q1 FY26, with EV penetration in the 3-wheeler segment crossing 40% for the first time.

International Business Reaches Record Highs

The company recorded its highest-ever international business sales of 4.68 lakh units in Q1 FY27, a 33% year-on-year increase. International (IV) revenue for the quarter stood at ₹3,634 crore. Africa remained a key driver of export growth, supported by robust demand for 2-wheelers and 3-wheelers, particularly the HLX series. The LATAM region also gained traction, with the company reporting growth ahead of the industry across most countries in the region. The TVS HLX series crossed the 5 million cumulative sales milestone during the quarter, with the last 1 million units achieved within the past year alone.

Norton Motorcycles marked the rollout of the first Atlas models at TVS Motor Company's Hosur manufacturing facility in June, with production of the Manx also commenced at Solihull. The four initial Norton models — Manx R, Manx, Atlas, and Atlas GT — were launched in the UK, France, Italy, Germany, Spain, and India, with a US launch planned later in the year.

TVS Credit and Subsidiary Performance

TVS Credit Services reported sustained growth in disbursements during the quarter. The book size grew 19% to ₹32,053 crore from ₹26,898 crore in Q1 FY26. The subsidiary disbursed loans to over 14 lakh new customers, bringing the total customer base to nearly 2.6 crore. TVS Credit expanded its network to nearly 62,000 touch points. Profit before tax for TVS Credit grew 16% to ₹283 crore from ₹243 crore in Q1 FY26.

Capacity Expansion and Cost Pressures

Management highlighted ongoing capacity expansion, with overall 2-wheeler capacity being scaled up from approximately 6.8 million to 8.3 million units, expected to be reached by Q4 FY27. Three-wheeler capacity is being expanded from 0.25 million to approximately 0.42 million units. Two-wheeler EV capacity is being increased from approximately 40,000 to 50,000 units per month, and 3-wheeler capacity from approximately 20,000 to 30,000 units. Total investment in new products and capacity expansion stands at approximately ₹3,500 crore.

Commodity cost pressures, particularly in steel, aluminium, and oil-linked components, were cited as a headwind during Q1, with overall commodity cost increase estimated at approximately 3.5% to 4%. The company took price adjustments of approximately 1.5% in Q1 and approximately 0.5% in Q2. Spare parts revenue for the quarter was ₹1,173 crore, and EV segment revenue was approximately ₹1,780 crore. PLI incentives accounted for approximately 0.6% to 0.7% of turnover, with PLI receivables of approximately ₹600 crore outstanding, which management confirmed will be received in full.

Management noted that the iQube crossed the 1 million cumulative units milestone and that EV penetration in the 2-wheeler segment reached 10.60% in June alone. The company's strategic premium experience channel, TVS Paddock, was also announced during the quarter as part of its premiumisation strategy.