TVS iQube electric scooter sales increased significantly to over 11k units in Dec 2022
TVS Motor Company has reported a 9.95 percent YoY growth in domestic sales in December 2022 while exports fell 24.22 percent. Sales (domestic + exports) in the past month stood at 2,26,390 units down from 2,32,568 units sold in Dec 2021. There was a growth of 9.95 percent in terms of domestic sales to 1,61,369 units in Dec 2022 from 1,46,763 units sold in Dec 2021. Exports on the other hand fell 24.22 percent from 85,804 units shipped in Dec 2021 to 65,021 units in the past month. It was also a MoM de-growth as total sales (domestic + exports) had stood at 2,61,726 units in Nov 2022.
TVS Jupiter was most in demand in domestic markets. Sales increased 4.48 percent YoY to 39,849 units in Dec 2022, up from 38,142 units sold in Dec 2021. It commanded a share of 24.69 percent in the company lineup while it was the 6th best-selling two wheeler in the country in the past month with a market share of 4.50 percent.
TVS Domestic Sales Dec 2022
At No. 2 was TVS Raider with a YoY growth of 140.37 percent to 26,063 units from 10,843 units sold in Dec 2021. This was a 15,220 unit volume growth with a 16.15 percent share. TVS Motor Co noted a dip in demand for the XL, Apache and Ntorq in Dec 2022. XL sales fell 5.75 percent YoY to 25,961 units while Apache suffered a 5.75 percent YoY de-growth to 22,181 units. Ntorq sales also dipped 3.96 percent to 16,191 units in the past month from 16,859 units sold in Dec 2021.
Tremendous growth was seen in the case of TVS iQube electric scooter sales. While the company had sold 1,212 units in Dec 2021, sales jumped 813.45 percent YoY to 11,071 units in Dec 2022. TVS iQube is offered in three variants of Standard and S. Sales have recently crossed the 50,000 unit milestone since the updated version was introduced in May 2022.
TVS Sport sales also increased in domestic markets by 2.12 percent to 7,386 units from 7,233 units sold in Dec 2021 while Radeon sales increased 9.65 percent YoY to 5,635 units. Sales of the Pep+ dipped 33.40 percent to 2,461 units in Dec 2022 even as the company had sold 3,695 units in the same month last year. Zest sales increased by 4.76 percent to 2,441 units while the company reported de-growth of 52.61 percent and 36.87 percent respectively for the Star City (1,916 units) and RR310 (214 units) in Dec 2022.
TVS Exports Dec 2022
TVS suffered de-growth of 24.22 percent in terms of exports in Dec 2022. Down to 65,021 units from 85,804 units shipped in Dec 2021, every model on the company portfolio has seen lower exports except for the Jupiter and Victor. TVS Star City and Star City 125 topped the list with 23,853 units and 22,640 units shipped in the past month respectively. However, this was a de-growth of 26.09 percent and 15.58 percent over exports in Dec 2021.
There were also lower exports for the TVS Sport, down 9.69 percent to 5,451 units when compared to 6,036 units shipped in Dec 2021. Apache exports also fell by 52.08 percent to 4,434 units. TVS Motor Co has noted a good increase in demand for the Jupiter in global markets. Exports increased 2324.77 percent to 2,643 units in Dec 2022, up from just 109 units shipped in Dec 2021. This was a volume growth of 2,534 units.
Exports of Raider (2,498 units) and Ntorq (2,098 units) fell by 44.40 percent and 58.37 percent respectively in Dec 2022. There was increased demand for the Victor with 1,120 units shipped in the past month, up 40 percent over 800 units exported in Dec 2021. Thereafter, TVS XL (234 units), RR310 (38 units) and Wego (12 units) each suffered a YoY de-growth in terms of exports.