India’s leading 2W and 3W vehicle manufacturer, TVS Motor, demonstrated impressive sales performance for the month December 2023. The company closed CY 2023 with registering 25% YoY growth in Q3 numbers. Total sales grew by 33.14% YoY in domestic markets with 7.54% growth in exports YoY.
When compared to the sales performance in the extended festive month of November 2023, TVS saw a total decline of 17.11% MoM. Motorcycles remained TVS’ best-selling category with 1,48,049 units sold last month accounting for 51.04% of total sales. When compared to 1,24,705 units sold in December 2022, sales grew by 18.72% YoY, gaining 23,344 units in volume.
However, when compared to 1,72,836 units sold in November 2023, motorcycles saw a 14.34% YoY decline, losing 24,787 units in volume. The company sold 1,03,167 scooters last month with 18.72% YoY growth and 24% MoM decline and accounted for 35.57% of total sales. Volume gain YoY was 26,401 units and volume loss MoM was 32,582 units.
TVS sold 38,848 mopeds in December 2023, whose sales accounted for 13.39% of the company’s total sales. Mopeds saw 48.30% YoY growth and a 10.73% MoM decline. The company sold 11,232 iQubes and TVS X with 1.45% YoY growth and a 33.07% MoM decline. iQube and X had sold 16,782 units a month before and hence there was a 5,550 units volume deficit MoM.
Total 2W domestic sales for the brand was 2,14,988 units which is an impressive 33.23% YoY increase, but numbers took at a rate of 25.10% MoM decline. Domestic 2W business accounted for 74.12% of TVS’ total 2W sales. Where 2W exports are concerned, the company shipped 75,076 units with 13.24% YoY growth and 15.35% MoM growth accounting for 25.88% of total 2W sales.
Combining 2W domestic and international business, TVS registered 2,90,064 units with 27.41% YoY growth and 17.62% MoM decline. Where 3W vehicles are concerned, the company saw 1,519 units sold in domestic markets and 10,315 units shipped abroad. 3W segment showed 22.4% YoY growth and a 24.47% YoY decline in domestic market.
The latest launch from TVS is Apache RTR 310. In international market, 3W exports dropped 21.29% YoY and gained 1.96% MoM. In total, TVS’ 3W business was summed up to 11,834 units which fell into the red completely with 17.51% YoY and 2.42% MoM declines. Volume loss stood at 2,512 units YoY and 294 units MoM from November 2023.
Total domestic sales (2W + 3W) stood at 2,16,507 units with 33.14% YoY growth with 53,897 units gained in volume YoY and 25.09% MoM decline losing 72,521 units in volume MoM. Total exports (2W + 3W) accounted for 85,391 units and fell in the green with 7.54% YoY growth and 13.55% MoM growth.
In total (2W + 3W, Domestic + Exports), TVS’s sales December 2023 charts lodged 3,01,898 units with 24.75% YoY growth as opposed to 2,42,012 units sold in December 2022 with 59,886 units volume growth. There was a MoM decline of 17.11% due to the 3,64,231 units sold in November 2023 with 62,333 units lost MoM.