TVS Motor has registered double digit growth across its two wheeler segment, both in terms of domestic sales and exports in January 2024
TVS Motor Company entered the New Year with strong performance seen across its two wheeler segment. The company has posted positive sales both in domestic and global markets and increased sales both across its motorcycle and scooter lineups. The company has also gained traction for its electric two wheeler iQube, which witnessed a 33 percent YoY growth in January 2024.
TVS Motor Domestic Sales January 2024
Total two wheelers sold by TVS Motor both in domestic and global markets in January 2024 has registered a growth of 21.37 percent YoY. Sales increased from 2,58,691 units sold in January 2023 to 3,29,005 units sold in January 2024. TVS Motor sales in January 2024 stood at 2,68,143 units, up 26.20 percent YoY over 2,12,471 units sold in January 2023. This was a volume growth of 55,672 units.
It was the Jupiter scooter that commanded the most attention in domestic markets with 74,225 units sold last month. This was a 36.23 percent YoY growth over 54,484 units sold in January 2023. The Jupiter was also the 2nd best-selling scooter in the country, scaling over Suzuki Access and Ola S1 by a significant margin. This list also included the Ntorq at No. 5 on the same list.
TVS Raider has also seen increased demand with 43,331 units sold last month, an 86.51 percent YoY growth over 23,233 units sold in January 2023. It was followed by the XL with 42,036 units sold last month, a 14.47 percent improvement from 36,723 units sold in January 2023. TVS Apache sales stood at 31,222 units last month. It was also at No. 7 on the top 10 motorcycle list, overtaking sales of the Hero Passion and RE Classic by a few units.
TVS Ntorq sales grew 11.76 percent YoY to 27,227 units while the company’s sole electric scooter iQube has seen a 27.88 percent increase in sales to 15,562 units in January 2023. TVS iQube also featured at No. 2 on the list of electric two wheeler sales last month. There were 11,916 units of the Radeon sold last month relating to a 32.93 percent YoY growth while sales of Sport dipped 4.70 percent YoY to 10,229 units. While TVS Zest has posted a 58.89 percent YoY growth to 7,560 units in January 2024, sales of the Star City dipped by 34.78 percent to 2,089 units. The list also included the relatively new Ronin with 2,049 units sold along with 697 units of the R 310.
TVS Exports January 2024
Exports of TVS Motor grew by 31.68 percent to 60,862 units in January 2024, up from 46,220 units sold in January 2023. This was a volume growth of 14,642 units. Globally, it was the Star City 125 that commanded the most attention with 32,743 units sold last month, up 99.66 percent over 16,399 units sold in January 2023. It currently holds a 53.80 percent share on the company’s export list.
Exports improved for the Apache by 184.61 percent, the highest percentage growth as compared to any other model on this list. There had been 9,725 units shipped last month, up from 3,417 units exported in January 2023. TVS Sport (6,717 units) and Jupiter scooter (4,830 units) also posted 105.04 percent and 43.88 percent YoY growth respectively.
Raider exports grew by 49.93 percent to 4,285 units. There was a de-growth of 18.65 percent for Ntorq exports to 2,172 units last month. TVS Ronin (328 units) and R 310 (62 units) featured lower down on the export list.
