DriveX has set an ambitious target of reaching INR 100 crore in revenue for FY25. The company, partly owned by TVS Motor Company, recently inaugurated its 57th retail outlet in Chennai, showcasing its rapid growth and solidifying its presence in the market. With plans to expand to 130 retail outlets by May 2025, DriveX is setting the stage for a wider pan-India reach, aiming for 500 outlets by 2027.
Narain Karthikeyan, Founder and Managing Director of DriveX Mobility, highlighted the company’s rise in sales, now retailing around 2,500 used vehicles a month, a sharp increase from the modest 25-30 vehicles sold just a few years ago. This growth reflects the increasing demand for high-quality refurbished two-wheelers, which DriveX is eager to meet with its aggressive expansion strategy.
With 48% of the company owned by TVS Motor Company, DriveX has established itself as a leader in the pre-owned two-wheeler sector. The recent opening of their Chennai store marks an important milestone for the brand, particularly in South India, where the company aims to leverage the region’s strong automotive heritage to scale operations further. Karthikeyan emphasised the importance of the Chennai hub in enhancing service and contributing to the company’s overall growth.
DriveX’s expansion plans are not limited to the southern region, with a focus on the northern markets, particularly the NCR region. The company plans to establish a refurbishment centre in Ghaziabad, a move expected to enhance service quality and expand market reach in the north. This centre is part of the company’s broader strategy to strengthen its foothold in key markets across the country.
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