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TVS refreshes NTORQ 125 with new colours ahead of festive push, holds price at Rs 82,500
Our read
Cosmetic refresh holds NTORQ share through Diwali but forces dealer-side sweeteners by November as Bajaj counters.
For operators
Refresh-only SKU update at flat MRP signals inventory pull-through play rather than feature war—watch dealer offtake and accessory attach rates through festive window.
Watch
NTORQ October VAHAN registrations vs Sep baseline
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The report,
TVS Motor launched new colours and graphics for NTORQ 125 Disc and Race Edition variants ahead of festive season, priced at Rs 82,500 and Rs 87,950 ex-showroom Delhi, retaining SmartXonnect Bluetooth and digital console features.
Reported figures
From the report. Source details below
- 3-5% FY27 growth
Why it matters for the brand
Flat pricing on a connected-scooter refresh suggests TVS is conserving R&D firepower for EV/premium plays, leaving partnership room in telematics and accessory ecosystems.
What to track next
- Bajaj Chetak 125 or Suzuki Avenis price/spec counter-move within 30 days
- Dealer inventory days creeping past 35 in November
- Any TVS accessory bundling or finance scheme announcement
- iQube monthly volumes - signals ICE-to-EV cannibalisation inside TVS portfolio
Likely next moves
Our read of what comes next — analysis, not reported by the source.
- Track TVS dealer-level festive schemes vs Bajaj Chetak 125 and Suzuki Avenis through October
- Monitor VAHAN registrations weekly for 125cc scooter mix shift
- Watch for a mid-cycle NTORQ ABS or feature bump if colour refresh underperforms
- Check TVS Q2 commentary on premium scooter ASP and festive order book
The counter-case
The case against this reading — not reported by the source.
A cosmetic colour refresh at unchanged pricing is the weakest form of product action - it signals TVS has no real answer to Bajaj's Chetak EV and Suzuki Avenis pressure in 125cc. NTORQ volumes have been declining for six quarters; new stickers won't reverse share loss. Flat pricing during input cost deflation actually means margin compression isn't being passed to consumers to drive volume.