For May 2022, TVS Motor Company reports MoM sales growth; and decline in total exports owing to a decline in 2W exports
TVS Motor Company total sales for May 2022 is reported at 3,02,982 units. If compared to YoY numbers, growth is stupendous. And at the same time adds little value. This is due to low base sales in May 2021 owing to an ongoing period of localised lockdown imposed by the government.
In comparison, the quest to keep auto businesses undisturbed has been more successful in 2022. With Covid-19 caseload steady at lower base numbers, businesses are soon moving to pre-Covid levels, and in some instances, performing better than ever before.
TVS Motor Sales May 2022
A year earlier, Covid-19 severity was high, and impacted auto businesses severely. In May 2021, total sales stood at 1,66,889 units. Volume gain is reported at 1,36,093 units. Total MoM sales improved 2.6 percent, up from 2,95,308 units. Volume gain is reported at 7,674 units.
Total two-wheeler sales in May 2021 were reported at 1,54,416 units. For May 2022, that number stands at 2,87,058 units. MoM total 2W sales growth stands at 2.51 percent, up from 2,80,022 units. Volume gain stood at just over 7k units. In the two wheeler segment, top sellers include Jupiter, Apache, Raider, Sport, Star City, Ntorq, Pep+, XL100. Electric scooter iQube also posted impressive numbers.
Domestic two-wheeler sales are up from 52,084 units in May 2021 to 191,482 units in May 2022. MoM growth stands at 6 percent, up from 1,80,533 units. YoY total motorcycle sales are up from 1,25,188 units in May 2021 to 148,560 units in May 2022. Scooter sales rose from 19,627 units in May 2021 to 100,665 units in May 2022.
Total 3W sales
At a time when domestic business was plagued by lockdowns and slowdowns, the export business triumphed. YoY exports continued to gain, up at 1,10,245 units in May from 1,14,674 units in May 2021. Two-wheeler exports last month stood at 95,576 units, down from 1,02,332 units in May 2021 at 6.6 percent decline. Of domestic two-wheeler sales, EV sales volume has improved at 2,637 units of TVS iQube in May 2022. MoM sales almost doubled, up from 1,420 units. Moped sales last month rose to just under 38k units, up from 9,601 units YoY. Moped sales were largely stable.
Three-Wheeler sales in May 2022 is up 28 percent at 15,924 units, up from 12,473 units. Of this, domestic 3W sales stood at 1,255 units. 3W exports make up the bulk in volumes at 14,669 units. YoY growth stood at 18.85 percent, up from 12,342 units.
In the current day, the ongoing semiconductors shortage impacts production and sales of premium two-wheelers. To rectify this, TVS has turned to alternate sources to arrest the shortfall. All efforts are concentrated on improving availability of timely supplies at the earliest.
These efforts are paying off, and the company reports some improvement in May 2022. TVS is optimistic that volume revival to normal levels will soon be a reality as the semiconductor supply situation improves.