Dacia vs TVS Motor: Revenue, Profit and Business Model
A full-year revenue figure is unavailable here for Dacia. TVS Motor had ~$6.5B of annual revenue in FY2026 and ~$350.1M of net income.
Latest financial snapshot
Financial summary
Dacia
Dacia does not publish a standalone income statement; its sales and margins are consolidated into Renault Group (Euronext Paris: RNO), which posted ~$65.4 billion (€57.9 billion) in 2025 revenue. What is public is volume: 676,340 vehicles in 2024 and 697,408 in 2025 (+3.1%), with a record 4% share of Europe's car and van market. Electrified models made up about one in four Dacia sales in 2025 as hybrid sales rose 122%. Renault Group management has repeatedly described Dacia as one of its most profitable brands, but no audited Dacia-only revenue or margin figure is published. Dacia does not have a standalone public valuation as it is a wholly owned, highly profitable subsidiary of the French automotive group Renault.
TVS Motor
In FY2026 TVS Motor posted consolidated revenue of ~$6.5 billion (₹56,028 crore) (up from ~$5.12 billion (₹44,134 crore)) and profit attributable to owners of ~$350 million (₹3,018 crore), up 35%. Standalone revenue rose 30% to ~$5.48 billion (₹47,270 crore), operating EBITDA grew 37% to ~$705 million (₹6,079 crore) (12.9% margin) and operating PBT rose 40% to ~$577 million (₹4,975 crore). Momentum continued in Q1 FY2027 (April-June 2026): consolidated revenue rose 33.5% to ~$1.89 billion (₹16,296 crore) and consolidated net profit jumped 67% to ~$118 million (₹1,019 crore), with standalone EBITDA margin at 12.8%.
Revenue and profit by year
Dacia
A revenue figure is unavailable here for Dacia. What is known about its finances is in the summary above.
TVS Motor
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | ~$6.5B | ~$350.1M | 5.4% | +26.9% | Source |
| FY2025 | ~$5.1B | ~$259.3M | 5.1% | +13.6% | Source |
| FY2024 | ~$4.5B | ~$195.6M | 4.3% | +21.1% | Source |
| FY2023 | ~$3.7B | ~$154.1M | 4.1% | +31.7% | Source |
| FY2022 | ~$2.8B | ~$87.8M | 3.1% | — | Source |
Where the revenue comes from
Dacia
- Sandero & Sandero Stepway
~41% of 2025 units
289,295 sales in 2025; Europe's best-selling car across all channels.
- Duster
~28% of 2025 units
193,974 sales worldwide in 2025.
- Bigster
~10% of 2025 units
67,573 sales in its first full year.
- Spring EV
~5% of 2025 units
35,034 sales, up 53%.
- Jogger, Logan and other models
~16% of 2025 units
Remaining vehicle sales; parts, accessories and financing income are reported within Renault Group.
TVS Motor
- Domestic Motorcycle Sales38
Sales of commuter and performance motorcycles across India, powered by the flagship Apache RTR and RR performance series and commuter models such as the Raider 125 and Radeon.
- Scooter Portfolio (ICE & Electric)30
Market-leading scooter lineup headlined by the TVS Jupiter family, sporty TVS Ntorq 125, and the rapidly growing TVS iQube electric scooter ecosystem.
- International Exports20
Direct vehicle and CKD kit exports to more than 80 countries spanning Africa, Latin America, Southeast Asia, and the Middle East, alongside overseas assembly in Karawang, Indonesia.
- Mopeds, Commercial 3-Wheelers & Spare Parts12
High-margin genuine replacement parts, authorized dealer workshop services, TVS King passenger/cargo 3-wheelers, and the utilitarian TVS XL100 heavy-duty moped.
Business model and strategy
Dacia
How it makes money
Dacia makes money by selling a short list of affordable cars, mostly to private buyers in Europe, through Renault Group's dealer network. Its 'design-to-cost' method sets a target price first and engineers to it: models share Renault's CMF-B platform, engines and hybrid systems, option lists are kept short to reduce factory complexity, and features most buyers do not use are left out.
Growth strategy
Dacia's growth strategy has two tracks: move upmarket in size without moving upmarket in price, and electrify at a pace buyers can afford. The Bigster (launched in 2025) took Dacia into the C-SUV segment, and the Duster and Jogger gained Hybrid 140 and mild-hybrid versions. The Spring, built in China, became Europe's best-selling A-segment EV in 2025 with 35,034 sales.
Competitive advantage
Dacia's advantage is price backed by group scale. Because it reuses Renault Group platforms, engines and purchasing, it avoids most of the development cost that a standalone budget brand would carry, and it builds in lower-cost plants in Mioveni and Tangier.
TVS Motor
How it makes money
TVS Motor Company operates a high-volume, integrated two-wheeler and three-wheeler manufacturing business model, generating revenue through the engineering, assembly, and global wholesale distribution of commuter motorcycles, premium performance bikes, scooters, and urban electric vehicles.
Growth strategy
TVS Motor Company's growth strategy centers on three strategic pillars: aggressive premiumization, multi-category electrification, and global market expansion.
Competitive advantage
TVS Motor Company's competitive advantage stems from its award-winning engineering excellence, being the only two-wheeler company to win the prestigious Deming Prize for total quality management, combined with strong brand equity in sporty performance motorcycles (Apache series) and early leadership in the electric vehicle transition with its best-selling iQube electric scooter family.
Questions about Dacia vs TVS Motor
Which company has higher revenue — Automobile Dacia S.A. or TVS Motor Company?
TVS Motor Company had ~$6.5B (FY2026). A comparable annual revenue figure for Automobile Dacia S.A. was unavailable here.
What is the market cap of Automobile Dacia S.A. vs TVS Motor Company?
TVS Motor Company has a market capitalisation of $20.8B. A public market cap figure for Automobile Dacia S.A. was not available (it may be privately held).
How does revenue per employee compare for Automobile Dacia S.A. and TVS Motor Company?
TVS Motor Company generates $1.18M / employee in revenue per employee. A comparable figure for Automobile Dacia S.A. requires matching employee and revenue data from the same reporting period.
How do Automobile Dacia S.A. and TVS Motor Company make money?
Automobile Dacia S.A. and TVS Motor Company generate revenue in fundamentally different ways. Automobile Dacia S.A.: Dacia makes money by selling a short list of affordable cars, mostly to private buyers in Europe, through Renault Group's dealer network. TVS Motor Company: TVS Motor Company operates a high-volume, integrated two-wheeler and three-wheeler manufacturing business model, generating revenue through the engineering, assembly, and global wholesale distribution of commuter motorcycles, premium performance bikes, scooters, and urban electric vehicles.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Dacia vs TVS Motor overview