With the electric two-wheeler industry  gaining great momentum, albeit with the help of government incentives, new dealers are emerging in almost every nook and corner of cities. As representatives of electric two-wheeler manufacturers, many of whom are start-ups, the scene is getting more and more active with every passing hour. Some dealers are experienced businesses and some are entirely new. Rajni Jose of Motoring Trends spoke to Jay Sumit Patwa, Chief Visionary Director, Patwa Group of Nashik and Bhushan Shah, CEO, Miracle 5 of Pune, about their experiences. 

How different is it to sell electric two-wheelers over your other business concerning mobiles, FMCG goods,  plastics and furniture?

Patwa: It feels exciting to have diversified into automobiles. Especially in the EV category with a brand like Ather, which has its aura and goodwill.  The reason for diversification is that  EV is the future. There is also a social cause attached to it, which will create an  indirect impact.

From a revenue perspective, how do you fare with electric two-wheelers with far less moving parts than a conventional two-wheeler does?

Patwa: Yes, there are  fewer components as compared to IC engine vehicles. The profit margins however are good and helps in building up a sustainable business model that results in  dealership revenue.

Shah: We do not look at servicing vehicles from a revenue generation perspective. It is only an add-on business with EVs. We consider it more like a customer interface and customer relationship management. Even spare parts replacement is not a viable revenue generation point for EVs considering the lack of replacement needs. Selling an EV is the only source of revenue.

How will FAME II drive the business?

Patwa: We are banking on the  FAME policy to have a big impact on the pricing of electric vehicles that we sell. It is a good initiative by the Central Government as well as state governments for the proliferation of electric vehicles. the EV industry.

Shah:  We are still in the process of obtaining the approval. Our vehicles are in the testing phase. We should be all set in two months. Our FAME II products will be 80 percent localised. Only some  20 percent of the parts will be imported. These would be majorly electrical and electronic in nature. With higher subsidies we are expecting higher sales volumes. 

How do you look at the current charging infrastructure?

Patwa: Ather Energy has a dedicated business vertical called Ather Grid, which is solely in charge of making and installing charging stations in cities where it has opened its Experience Centres. Currently, in Nashik, we have more than five charging stations. 

Shah: We have a few around Pune, but charging infrastructure is not an issue when it comes to our vehicles. A user’s daily commute can be fulfilled in a single charge. In the future however, we are expecting charging stations and charging infrastructure to mushroom like STD and PCO booths.

Does the dealership provide financing and insurance options?

Patwa: Yes, we provide finance and insurance. We also provide leasing options to our customers. We have tied up with renowned brands like Aditya Birla and Bajaj,  HDFC, IDFC and Hero Fincorp for finance, and with Autovert for leasing. 

Shah: Yes, we provide finance options. We have tie-ups with Bajaj Finance, LoanTap and Manappuram Finance. We also have tie-ups with cooperative banks. However, due to the need for a guarantor in such banks, most customers prefer the former options.

How is the market response for electric two-wheelers? 

Patwa: In Nashik, we are seeing good demand. We are experiencing  daily walk-ins of over 100 people that are interested in buying an Ather electric scooter.

Shah: More and more people are starting to accept electric two-wheelers. Especially with the pandemic, the need for personal mobility has surged and two-wheelers are found to be the best way to address that. In cities like Pune where public transport is not very efficient, we are getting buyers that range from  housewives to children. We are getting buyers that are delivery boys. They are keen to use our vehicles as they are efficient and cost effective. With the entry of big household automobile brands in the electric two-wheeler space, more and more people are getting the assurance that they can make the shift.  

What has Covid-19 affected sales?

Shah: Sales were largely down throughout last year. Our business was closed for more than half the year. Things picked up during December-February. They witnessed a drop in March 2021 once again as the second wave hit. With the fuel price hike, things have once again started to pick up. 

How many outlets do you have? Any plans for expansion? 

Patwa: We currently have one showroom and are focused on stabilising it. We are assessing the demand.  Depending on the same we will be chalking out our plans for expansion. In 2022, we could look at opening Ather sales points and service centres. 

Shah: We have various touch points across India for test drives, product viewing and booking services. We currently have dealerships in Mumbai, Indore and Pune, and are looking at expanding to other cities in the next six months.  (MT)

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Chennai-headquartered two-wheeler and three-wheeler major TVS Motor Company has announced its financial results for Q1 FY2026, with a significant 20 percent increase in revenue for the first quarter.

The company's revenue climbed to INR 100.81 billion, up from INR 83.76 billion in the same period last year.

The company's profitability also saw a major boost. Operating EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) grew by 32 percent to INR 12.63 billion, with the operating margin improving to 12.5 percent from 11.5 percent. This led to a 35 percent increase in Profit After Tax (PAT) to INR 7.79 billion.

During the period, TVS Motor registered its highest ever quarterly sales, with overall two- and three-wheeler sales growing by 17 percent to 1.27 million units. This includes motorcycles sales at 621,000 units, up 21 percent, scooters at 499,000 units, up 19 percent, three-wheelers sales at 45,000 units, up 46 percent and electric scooters at 70,000 units, up 35 percent YoY respectively.

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Bengaluru-based electric two-wheeler manufacturer Ather Energy has launched a new variant of its 450S electric scooter, featuring an upgraded 3.7 kWh battery pack that delivers an IDC range of 161km. Priced at INR 145,999 (ex-showroom, Bengaluru), the new model offers an extended range while maintaining the performance DNA of the 450 series.

The variant is positioned to bridge the gap between the entry-level 450S 2.9 kWh and the higher-end 450X. It features the same 5.4 kW motor producing 22 Nm of torque, a claimed top speed of 90 kmph, and zero to 40 kmph acceleration in 3.9 seconds.

Ravneet Phokela, Chief Business Officer, Ather Energy, said, "The 450 series has always set the bar for performance, technology, and reliability in the Indian electric scooter market. With the launch of the 450S featuring a 3.7 kWh battery pack and an IDC range of 161km, we're bringing the extended range previously exclusive to the 450X. The new 450S variant is specifically designed for riders who prioritise the sporty appeal and long-range capability of the 450 series over the advanced software features of the 450X. With an IDC range of 161 kms offered by the new 450S, riders can now confidently plan longer journeys and still experience the thrilling performance the 450 series is renowned for, all at a more accessible price."

The new 450S retains the sharp styling and build quality of the 450 range, while offering four riding modes – Smart Eco, Eco, Ride and Sport. It also comes equipped with a 7-inch DeepView Display, Bluetooth connectivity, turn-by-turn navigation, AutoHold, Fall Safe, OTA updates and access to the Ather Grid fast-charging network.

Bookings are now open, with deliveries set to begin from August 2025. Ex-showroom prices for the new variant are INR 148,047 in Delhi, INR 148,258 in Mumbai, INR 145,999 in Bengaluru and INR 147,312 in Chennai.

The scooter is covered under Ather’s 'Eight70' warranty programme, which offers 8 years or 80,000 km of coverage, guaranteeing 70 percent battery health during the period.

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Eicher Motors (EML) has reported its highest-ever Q1 revenue in FY2026, reaching INR 50.42 billion, up 14.8 percent YoY, from INR 43.93 billion last year.

The EBITDA grew by 3.2 percent to INR 12.03 billion, while Profit After Tax (PAT) stood at INR 12.05 billion, up 9.4 percent from INR 11.01 billion in Q1 FY2024-25.

During the quarter, Royal Enfield sold 261,326 motorcycles, which was 14.7 percent higher as compared to 227,736 units sold in the corresponding period last year.

VE Commercial Vehicles (VECV) posted INR 56.71 billion in revenue, up 11.9 percent from INR 50.70 billion, while EBITDA grew by 32.6 percent to INR 5.11 billion. The company sold 21,610 CVs in Q1, compared to 19,702 in the previous year. VECV’s revenue and EBITDA are not included in Eicher Motors’ consolidated financials, and its profit contribution is reflected as a single line in EML’s consolidated PAT.

B Govindarajan, MD, Eicher Motors, and CEO, Royal Enfiled, said, “At Eicher Motors, we’ve had a solid start to the year, with encouraging growth across both Royal Enfield and VECV. We continue to build consistent momentum in volumes, profitability and the strength of our overall portfolio. At Royal Enfield, we have sustained our growth momentum in the first quarter, anchored by our continued focus on product innovation, immersive riding experiences and a deeper expression of pure motorcycling. The refreshed Hunter 350 continues to be a key marker of growth for us, both in terms of volumes and community engagement. Moving ahead on our global ambition, we further strengthened our reach in the SAARC region and expanded our portfolio in Nepal with the locally assembled Classic 350. With a refreshed pipeline of motorcycles and a growing ecosystem of curated rides and culture-first experiences, we are shaping a vibrant and inclusive motorcycling movement. VECV, too, has delivered consistent growth, anchored in a strong product portfolio and a sharp understanding of India’s evolving commercial mobility needs. Our continued investment in sustainable, efficient transport solutions ensures we are well-positioned for the future. As we move forward, our commitment to long-term value creation remains strong – through customer-centric innovation, global ambition, and meaningful brand experiences at every level.”

Vinod Aggarwal, MD and CEO, VECV, and Vice Chairman, Eicher Motors, said, “CV delivered its best‑ever first quarter with 21,610 units in Q1 FY’26 (up 9.7 percent year‑on‑year) and broadened its footprint in a largely flat market. Overall market share improved to 18.7 percent (vs 17.3 percent last year), led by continued leadership in LMD trucks (34.5 percent share) and a strong showing in Buses, where Total Bus volumes grew 14.8 percent and market share rose to 21.5 percent. Exports grew by 20.5 percent over last year. Deliveries of all electric Eicher Pro X in SCV segment (2.0–3.5T) continue to gather momentum. Heavy‑Duty volumes were marginally lower reflecting a lower total market despite market share gains. Our connected vehicle solution “My Eicher” now connects 150,000 customers representing 350,000 vehicles. VECV reported strong revenue growth and expansion in profit margins linked to better volumes, pricing and cost discipline. PAT was lower as compared to previous year primarily due to one off impact in Q1 FY’25 linked to deferred tax reversal.”

VECV also reported improved market share in LMD trucks and buses, and growth in electric vehicle deliveries and exports.

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Chennai-based two-wheeler and three-wheeler major TVS Motor Company has launched the TVS Ntorq 125 Super Soldier Edition in the Marvel Avengers Super Squad series at INR 98,117 (ex-showroom Delhi).

The TVS Ntorq Super Soldier Edition builds on the company’s successful collaboration with Marvel, and features a striking camo-inspired theme.

The Bluetooth-connected Smart scooter (SmartXonnect) remains mechanically unchanged, featuring a 124.8cc, air-cooled engine that produces 9.5hp and 1.5Nm of power.

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