TVS Motor's ₹200-crore media mandate headed for a split?

TVS Motor Company's media agency review, one of the largest account pitches in the automotive sector this year, could likely conclude with the mandate being shared between Madison World and dentsu, according to people familiar with the matter.The integrated media mandate, estimated to be worth around ₹200 crore annually, has been under review for several months. Madison World, the incumbent agency, and dentsu emerged as the final two contenders in the multi-stage pitch process, which covered integrated media planning, buying and performance marketing.Sources told Storyboard18 that rather than appointing a single agency, TVS Motor is likely to split the media business between Madison World and dentsu. However, the work scope and allocation of responsibilities between the two agencies could not be independently confirmed at the time of publishing.Storyboard18 has reached out to TVS Motor Company, Madison World and dentsu for comments. This story will be updated once responses are received.The outcome is being closely watched by the advertising industry given the scale of the account and the increasing trend of marketers distributing media and creative responsibilities across multiple agency partners instead of consolidating them under a single network.A split mandate, if confirmed, would allow TVS Motor to leverage specialised capabilities across different areas of media, including planning, buying and performance marketing, while retaining continuity with its existing agency relationships.TVS Motor enters the media review at a time of strong business momentum. The company recently reported its best-ever quarterly sales in the April-June period of FY27, selling 16.31 lakh vehicles, marking a robust start to the financial year.In June alone, total sales rose 47% year-on-year to 5,90,003 units from 4,02,001 units a year earlier. The company's two-wheeler business grew 27% during the first quarter, with sales increasing to 15.64 lakh units from 12.32 lakh units in the corresponding period last year.For the month, total two-wheeler sales climbed 47% to 5,65,417 units, driven by broad-based growth across segments. Domestic two-wheeler sales increased 46% to 4,11,014 units, while motorcycle sales rose 42% to 2,67,096 units. Scooter sales outpaced other categories, surging 53% to 2,47,950 units.Electric mobility continued to be a key growth driver for the automaker. Electric two-wheeler sales more than tripled to 48,537 units in June from 14,400 units in the year-ago period.The company's three-wheeler business also maintained strong momentum, with quarterly sales increasing 48% to around 67,000 units. June three-wheeler sales rose 51% year-on-year to 24,586 units, while exports grew 47% to 1,72,355 units, reflecting healthy demand across international markets.TVS Motor also delivered a record financial performance in FY26, selling 5.89 million vehicles during the year while reporting revenue of ₹47,270 crore and EBITDA of ₹6,079 crore.Read More:Next TVS Motor CMD Sudarshan Venu's FY26 remuneration jumps 46% to Rs 64.22 crore on higher commission