Sporty Scooter Segment Growth 6X of Overall Industry; Not Slowing Down Anytime Soon: TVS Motor 

TVS Motor Company clearly sees huge potential for growth in the sporty scooter segment in India, which is currently outperforming the overall bike and scooter industry in India by nearly 6X. On the sidelines of the launch of the new TVS NTorq 150, top company executives weighed in on the strengths of the category and reasons for this market dynamic, and also shared some interesting statistics.  

According to Aniruddha Haldar, Senior Vice President and Head – Commuter and EV Business, TVS Motor Company, “the sporty scooter [segment] has been significant in driving growth for the scooter industry overall”. He added: “The two-wheeler industry over the last three years has had a CAGR of 2 percent, scooters have a CAGR of 6 percent, and sporty scooters have a CAGR of 11 percent. So scooters grew at 3X the rate of two-wheelers, and sporty scooters grew at 2X [of that].”

The new NTorq 150 slots in above the existing NTorq 125 as a more powerful option. It’s priced starting at ₹1.19 lakhs, with the TFT variant priced at ₹1.29 lakhs. It’s available in a variety of bright colours, with a “stealth aircraft-inspired” design and sporty accents. TVS promises acceleration of zero to 60kmph in 6.3 seconds and a top speed of 104kmph. Buyers will get traction control plus Street and Race ridemodes. There’s also 22 litres of under-seat storage space. Tech features include navigation assist, music controls, call notifications, Amazon Alexa integration, ride analytics, crash notifications, parking location tracking, and over-the-air software updates. 

Commenting on the launch, Haldar said “This is a high-growth segment, I think that itself answers why a good sporty high-performance scooter is required. Hence, our focus on this space is warranted”.   

Talking about industry-wide sales figures, he said, “From a sheer size perspective, it is fast-growing. It is already at 70,000-plus units and it’s close to becoming one lakh per month. It’s almost 20 percent of the total industry, and this is a significant size in its own right.” 

The demand for sporty scooters is attributed to India’s working-age population and an appetite for affordable yet premium commuter vehicles. “When you keep in mind that from a demographic standpoint, India is only getting younger, buyers’ requirements are going to move more into the sporty segment.” In his opinion, as India is also getting more urbanised, gearless scooters have become the preferred mode of commuting in urban centres. 

When asked what the steady state of share for sporty scooters could be once the growth trend plateaus, Haldar offered a contrary perspective: “With our population, our demographics, there’s no need for the growth of this number to stabilise! I think it will be a long, long time before we talk about this growth curve stabilising, and I look forward to that ride.” 

Referring to these factors as “long-term fundamental growth drivers”, Haldar said TVS is a market leader but is still working to consolidate its position in the sporty scooter segment. Referring to the history of the NTorq product line, he said. The announced in May this year that it had sold over 2 million NTorq units in the seven years since the original NTorq 125 model was introduced.

So, will demand for the new NTorq 150 come at the cost of the NTorq 125? Haldar dismissed concerns of cannibalisation: “The opportunity that we have is that it will draw customers from the [lower end of the] sporty scooter segment, and also from the entry sporty motorcycle and entry premium motorcycle segments. I see a large portion of subsegments being in its catchment”, he said, adding that while the company will technically take some segment share from its own other offerings, it is working to grow the whole pie as well.

Also speaking to media following the launch, Gaurav Gupta, President – India Two-Wheeler Business, TVS Motor Company attributed demand and growth in this segment to India’s aspirational youth, saying “We are ahead in fulfilling their needs with not just the product, but also being present for those customers for a long time”. 

Sharing Haldar’s enthusiasm, he also said “We are sure that NTorq and the sporty scooter segment has a long journey [ahead]. We have also started to study the sub-niches, and we do have a lineup planned in all segments. Our team is always studying consumer behaviour, needs, and demand”.