TVS Domestic Sales and Exports in January 2023: Top-selling TVS two-wheelers in India
TVS Motor’s domestic sales and exports for January 2023 is a mixed bag result. Domestic sales improved while exports were just shy of having halved. While there were top gainers and losers, most bikes from TVS ended in the green YoY. Jupiter remained the best-selling model for TVS in January 2023, with a total of 54,484 units sold. XL followed closely behind, with 36,723 units sold. Apache, Raider, and Ntorq completed the top five best-selling models for TVS in January 2023.
It’s worth noting that the Raider saw a massive jump in sales, with 27,233 units sold, up from 11,377 units sold in January 2022, representing growth of 139.37 percent. Apache Series sales were 28,811 units. Total domestic sales were up at 2,16,471 units.
TVS Sales Breakup Jan 2023
TVS Raider and iQube saw the highest growth in January 2023, with sales of 27,233 units and 12,169 units, respectively. Raider sales grew by 139.37% YoY. TVS’ electric scooter, iQube saw significant increase in sales, with 12,169 units sold in January 2023, up from just 1,529 units YoY. iQube e-scooter sales improvement has been consistent in recent months. And just like that, iQube sales has already overtaken the Sport, Radeon, Zest, and Pep+ in terms of sales.
The Star City was the worst-performing model for TVS in January 2023, with just 3,203 units sold, down 35.48% from the same period last year. The Pep+ was the only other model to see a decline in sales, with just 4,581 units sold, down 0.89% from January 2022.
Despite exports contracting, total sales hasn’t suffered to the same extent due to improved domestic sales. The manufacturer has maintained its position as one of the top two-wheeler manufacturers in India. TVS Raider, which was updated in November 2022, is one of the top-selling TVS two-wheelers. iQube electric scooter has also gained a lot of popularity, with sales growing by almost 700% YoY. This is in tandem with current e-scooter sales trends.
Jupiter and XL continue to be the most popular TVS two-wheelers, just like in January 2022. Raider and iQube are gaining momentum. Monthly sales indicates that TVS is well-positioned in the Indian two-wheeler market. Its diverse range of two-wheelers continues to appeal to different segments of consumers. The company had a good start to 2023 in the domestic market, in line with the wider trends in the Indian two-wheeler market.
How TVS Motors fared in exports in January 2023
TVS Motor Company exports in January 2023 showed a decline compared to January 2022. Exports dropped to 46,255 units in January 2023 compared to 85,528 units exported in January 2022. This reflects a decrease of 45.92% in exports. Star City125 and Star City models recorded the highest exports in January 2023 with 35.45% and 26.73% share, respectively. On the other hand, the RR310 and Radeon models had a negligible share of 0.08%.
However, it’s interesting to note that TVS Jupiter witnessed tremendous growth at 3,357 units in January 2023 compared to only 118 units exported in the same month last year. While Victor and XL also recorded growth, other models like Apache and Ntorq witnessed a decline in sales. Exports fell to 46,255 units from 85,528 units.