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TVS Motors Cumulative Sales Up 9 Per Cent YoY

The TVS Motor Company reported cumulative sales of 3,79,001 units in the month of September 2022 posting a 20 per cent growth over August 2022. The company had reported cumulative sales of 3,15,539 units last months. Year-on-year performance was staider with a 9 per cent growth in sales. The manufacturer had retailed 3,47,156 units in September last year.

Starting with the firm’s two-wheeler business, the company reported a 9 per cent year-on-year growth in cumulative sales with 3,61,729 units sold in the month. Month-on-month performance was stronger with an almost 30 per cent growth in two-wheeler sales over August 2022. In the domestic market, two-wheeler sales amounted to 2,83,878 units in the month – up 16 per cent year on year.

Motorcycle sales were relatively flat at 1,69,322 units (up 2 per cent) in the month as against 1,66,046 units in September last year. Scooter sales were stronger in comparison with 1,44,356 units sold in the month – up 39 per cent over last year.

Scooter sales were up a notable 39 per cent over September 2021 while bike sales grew by a relatively flat 2 per cent.

Commenting on the performance of its two-wheelers, the company in a statement said, “ TVS Motor Company has had a robust start to the festive season and the demand is expected to further accelerate during the season.”

The TVS iQube also reported a jump in sales for the month with 4,923 units sold as against just 766 units in September 2021. TVS’s electric scooter sales also saw a marginal improvement over August 2022 where the company retailed 4,418 units.

Three-wheeler sales were also up 18 per cent to 17,282 units in the month.

For Q2 FY2023, TVS reported a cumulative sales growth of 12 per cent in two-wheeler sales while three-wheeler sales were up 7 per cent. The company reported cumulative two-wheeler sales of 9.77 lakh during the quarter with three-wheeler sales standing at around 51,000.

Exports meanwhile were down for the month of September with TVS reporting a 9 per cent year-on-year decline. The manufacturer exported 92,975 units in the month as against 1,02,259 units in 2021.

 

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