Two-wheeler makers see first-time & rural buyers come back in FY25

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₹9,519 crore, slightly above Bloomberg’s estimate of ₹9,401 crore, with a net income of ₹1,016 crore against forecasts of ₹1,048 crore, and an Ebitda of ₹1,359 crore, surpassing expectations of ₹1,323 crore. Ebitda refers to earnings before interest, tax, depreciation and amortization. TVS Motor Company, on the other hand, reported revenues of ₹8,169 crore for the quarter ended 31 March, exceeding the anticipated ₹7,975 crore, even though its net income of ₹485 crore fell below the expected ₹530 crore because of a fair valuation loss on some of its investments.

Its Ebitda of ₹926 crore outdid the forecast of ₹883 crore. Niranjan Gupta, CEO of Hero MotoCorp, told analysts in a post-earnings conference call that the company was seeing a promising increase in first-time buyers, particularly in their entry-level motorcycle segment. “(Consumer sentiment in) March was definitely positive.

April was positive. The momentum is somewhat on even now. However, in May the marriage dates (which lead to greater demand for two-wheelers) are not there, but I think there is a bit of a jump in the first-time buyers.

There is something happening in terms of consumer sentiment that people are prioritizing their personal mobility. Overall, therefore, we see it as positive momentum and it's quite broad based across the regions that we're seeing," Gupta said. “The rural market is slowly and steadily changing; I'm able to see some recovery happening," said K.N.

Radhakrishnan, CEO of TVS Motor Company. “I'm hoping that this year, even though we are all going through very, very high temperatures, severe heat waves, I'm expecting the monsoon to be normal. I think that will definitely help the rural (sales) to move much faster.