TVS iQube electric scooter sales stood at a total of 20,153 units in October 2023, an YoY growth of 148.71% over 8,103 units sold in October 2022
TVS Motor Company, one of India’s leading two-wheeler and three-wheeler manufacturers, recorded its highest ever monthly sales last month. Total sales (2+3W) (domestic + exports) stood at 4,34,714 units in October 2023 a 20.66 percent YoY growth, as against sales of 3,60,288 units in October last year. It was also a MoM growth of 7.99 percent over 4,02,553 units sold in September 2023.
TVS Motor’s 2W Sales October 2023
In the two wheeler segment, motorcycle sales far exceeded that of scooters while it was the e-scooter TVS iQube that saw an impressive increase in demand. Motorcycle sales stood at 2,01,965 units in the past month, a 22.72 percent growth over 1,64,568 units sold in October 2022 to command a 48.02 percent share in the company lineup. MoM sales also improved by 8.33 percent over 1,86,438 units sold in September 2023.
Improved scooter sales were also seen last month with 1,65,135 units sold in October 2023, up 22.15 percent over 1,35,190 units sold in October 2022. It was also a MoM growth of 6.18 percent when compared to 1,55,526 units sold in September 2023.
Sales of the TVS iQube increased 148.71 percent YoY to 20,152 units from 8,103 units sold in October 2022. It was however, a marginal MoM decline of 1 percent as against 20,356 units sold in September 2023. TVS also sells the XL100 in the moped segment and sales improved 19.25 percent YoY and 18.93 percent MoM to 53,510 units in October 2023.
This took total 2W domestic sales up 25.01 percent YoY to 3,44,957 units from 2,75,934 units sold in October 2022 while on a MoM basis, domestic sales grew by 14.80 percent from 3,00,493 units sold in September 2023.
Two wheeler exports also improved 10.13 percent YoY but fell by 12.50 percent MoM to 75,653 units. There had been 68,696 units and 86,462 units shipped in October 2022 and September 2023 respectively. Total two wheeler (domestic + exports) sales stood at 4,20,610 units in October 2023 up 22.05 percent over 3,44,630 units sold in October 2022 while MoM sales grew by 8.70 percent from 3,86,955 units sold in September 2023.
TVS Motor Three Wheeler Sales October 2023
In the three wheeler segment, sales grew in domestic markets but exports fell. There were 1,805 units sold in domestic markets, a 17.36 percent growth over 1,538 units sold in October 2022. MoM sales also improved by 2.21 percent over 1,766 units sold in September 2023. 3W exports on the other hand fell 12.90 percent YoY and 11.08 percent MoM to 12,299 units. There had been 14,120 units and 13,832 units exported in October 2022 and September 2023 respectively. This took total exports down 9.92 percent YoY and 9.58 percent MoM to 14,104 units.
Total domestic (2+3W) saw an impressive 24.97 percent YoY growth to 3,46,762 units while total exports (2+3W) grew 6.20 percent YoY to 87,952 units in October 2023. Exports fell by 12.31 percent MoM over 1,00,294 units shipped in September 2023.
