Skoda Auto vs TVS Motor: Revenue, Profit and Business Model
Skoda Auto had ~$34B of annual revenue in FY2025. TVS Motor had ~$6.5B of annual revenue in FY2026 and ~$350.1M of net income.
Latest financial snapshot
Skoda Auto
- Latest annual revenue
- ~$34B (FY2025)
- Net income
- Unavailable here
- Net margin
- —
- Revenue growth
- +6.6% a year, FY2023–FY2025
TVS Motor
- Latest annual revenue
- ~$6.5B (FY2026)
- Net income
- ~$350.1M
- Net margin
- 5.4%
- Revenue growth
- +23.1% a year, FY2022–FY2026
Financial summary
Skoda Auto
Skoda Auto Group revenue rose from ~$29.9 billion (€26.5 billion) in 2023 to ~$31.4 billion (€27.8 billion) in 2024 and a record ~$34 billion (€30.1 billion) in 2025 (+8.3%). Operating profit reached ~$2.82 billion (€2.5 billion) in 2025 (+8.6%), giving a return on sales of 8.3%, and net cash flow hit a record ~$2.6 billion (€2.3 billion). In the first half of 2026 revenue grew 6.3% to ~$18.1 billion (€16.0 billion), operating profit rose 6.3% to ~$1.58 billion (€1.4 billion), return on sales held at 8.5% and net cash flow rose 14.3% to ~$1.92 billion (€1.7 billion). Management credits higher volumes, cost discipline under the Next Level Efficiency+ programme and Volkswagen Group synergies.
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
Skoda Auto
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$34B | — | — | +8.3% | Source |
| FY2024 | ~$31.4B | — | — | +4.9% | Source |
| FY2023 | ~$29.9B | — | — | — | Source |
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
Skoda Auto
- Car sales
83.9% (2025)
Share of Skoda Auto a.s. revenue. The range runs from the Fabia and Kamiq to the Kodiaq and the electric Elroq and Enyaq.
- Parts, accessories and components
Not formally reported
Genuine parts and accessories, components supplied to other Volkswagen Group brands, and services. Group revenue was ~$34 billion (€30.1 billion) in 2025.
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
Skoda Auto
How it makes money
Skoda makes most of its money selling new cars. In its 2025 annual report, car sales made up 83.9% of Skoda Auto a.s. revenue, with the rest coming from genuine parts, accessories, components supplied to other Volkswagen Group brands and services. The line-up runs from the Fabia and Kamiq through the Octavia, Superb and Kodiaq to the electric Elroq, Enyaq, Epiq and Peaq.
Growth strategy
Skoda's growth plan has two tracks. In Europe it is widening its EV range at lower price points (Elroq, Epiq) while keeping combustion and plug-in hybrid versions of the Octavia, Superb and Kodiaq. Internationally it leads Volkswagen Group business in India and is building presence in ASEAN, the Middle East, Türkiye and Morocco. India deliveries doubled in 2025, and the Kylaq compact SUV is a key volume model there.
Competitive advantage
Skoda's edge comes from combining Volkswagen Group platforms, engines and EV hardware with its own packaging and pricing. Its cars typically offer more cabin and boot space than similarly priced rivals, and features branded 'Simply Clever' (an umbrella in the door, an ice scraper in the fuel flap) reinforce a practical image.
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 Skoda Auto vs TVS Motor
Which company has higher revenue — Skoda Auto a.s. or TVS Motor Company?
Skoda Auto a.s. had ~$34B (FY2025), while TVS Motor Company had ~$6.5B (FY2026). By latest annual revenue, Skoda Auto a.s. is the larger business, with TVS Motor Company showing a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of Skoda Auto a.s. vs TVS Motor Company?
TVS Motor Company has a market capitalisation of $20.8B. A public market cap figure for Skoda Auto a.s. was not available (it may be privately held).
How does revenue per employee compare for Skoda Auto a.s. and TVS Motor Company?
Skoda Auto a.s. has $850k / employee in revenue per employee, while TVS Motor Company has $1.18M / employee. Headcounts may use different dates, so the ratio alone does not establish which business operates more efficiently.
How do Skoda Auto a.s. and TVS Motor Company make money?
Skoda Auto a.s. and TVS Motor Company generate revenue in fundamentally different ways. Skoda Auto a.s.: Skoda makes most of its money selling new cars. 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.
Is Skoda Auto a.s. bigger than TVS Motor Company?
By last reported revenue, Skoda Auto a.s. (~$34B (FY2025)) is the larger company compared to TVS Motor Company (~$6.5B (FY2026)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
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 Skoda Auto vs TVS Motor overview