TVS domestic sales improved on a YoY basis while exports fell significantly with most models showing a lower demand on global markets
TVS Motor Company has revealed its sales report for June 2023. While the company has done well in domestic markets, posting a YoY growth of 22.14 percent, its exports have dipped 32.03 percent with most models in the company lineup receiving less attention from overseas buyers. Total sales (domestic + exports) of TVS Motor in June 2023 stood at 3,02,979 units, up from 2,91,881 units sold in June 2022. It was a MoM de-growth from a total of 3,17,249 units sold in May 2023.
In domestic markets, sales of TVS Motor stood at 2,35,833 units in June 2023. This was a 22.14 percent YoY growth from 1,93,090 units sold in June 2022. It is related to a 42,743 unit volume growth. MoM sales however, dipped from 2,52,690 units sold in May 2023.
TVS Domestic Sales June 2023 – Breakup
It was TVS Jupiter that once again topped domestic sales charts. Sales improved 2.23 percent to 64,252 units in June 2023 from 62,851 units sold in June 2022. The Jupiter commands a 27.24 percent share in the company lineup and was also the 2nd best-selling scooter in the country after the Honda Activa. The XL moped saw sales dip 7.94 percent YoY to 34,499 units in the past month, down from 37,474 units sold in June 2022. This was a 2,975 unit volume de-growth with a 14.63 percent share.
TVS Raider (34,309 units), Apache (28,127 units) and Ntorq (28,127 units) each posted substantial YoY growth. Of the TVS iQube, the company’s only electric offering, sales stood at 14,462 units in June 2023 up 209.88 percent from 4,667 units sold in June 2023. However, in view of price adjustments on account of FAME II subsidies, there was a MoM de-growth in iQube sales as against 17,913 units sold in May 2023.
Sales of TVS Sport also improved by 26.52 percent YoY to 11,669 while sales of the Radeon dipped 1.52 percent to 9,759 units in June 2023 from 9,910 units sold in June 2022. Domestic sales list also had Zest (5,889 units), Star City (3,071 units), Pep+ (1,379 units) and RR310 (340 units) out of which it YoY growth for Zest and RR310 while sales of Star City and Pep+ ended in the red.
TVS Exports June 2023
Exports fell by 32.03 percent YoY to 67,146 units in June 2023 down 31,645 units when compared to 98,791 units shipped in June 2022. MoM exports grew from 64,559 units shipped in May 2023. It was the Star City 125 that commanded the export list with 29,384 units sold last month, down 21.29 percent from 37,331 units sold in June 2022. This was a 7,947 units volume de-growth with a 43.76 percent share in the company lineup.
Exports also fell for the Star City by 26.99 percent to 17,082 units as compared to 23,397 units shipped in June 2022. It was also a YoY de-growth from the TVS Apache by 63.64 percent down to 5,034 units from 13,843 units shipped in June 2022. TVS Raider exports also fell 37.70 percent YoY to 4,434 units in June 2023 from 7,117 units sold in June 2022.
Jupiter scooter exports increased substantially by 1983.77 percent from just 154 units sold in June 2022. Thereafter, it was YoY degrowth for the Ntorq (3,102 units), TVS Sport (2,535 units) and Wego (994 units) while Victor and XL exports improved to 800 units and 330 units respectively. Lower down the list, it was the TVS Radeon that witnessed a 28.57 percent YoY de-growth to 200 units from 280 units shipped in June 2022. However, RR310 exports increased 23.53 percent in the past month to 42 units from 34 units exported in the same month last year.