TVS has registered YoY growth in domestic two wheeler sales in March 2023 while exports fell significantly
TVS Motor Company registered a growth of 4.76 percent in two wheeler sales (domestic + exports) in March 2023. Total sales increased from 2,90,810 units sold in March 2022 to 3,05,371 units in March 2023. It was the TVS Jupiter that found most demand in domestic markets while it was the Star City 125 that commanded the export list. There were a total of 2,40,780 units sold in March 2023, relating to a 22.25 percent YoY growth when compared to 1,96,956 units sold in March 2022. This was a 43,824 unit volume growth.
TVS Jupiter was the highest selling model in the company lineup in domestic markets. Sales surged 5.48 percent YoY to 58,874 units in March 2023 from 55,813 units sold in March 2022. This related to a volume growth of 3,061 units with the Jupiter commanding a 24.45 percent share. TVS Jupiter was also the second best-selling scooter in FY 2023 after the Honda Activa, with 7,29,546 units sold in FY 2023.
TVS Sales Breakup March 2023 – Jupiter No 1
At No. 2 was the TVS XL100 moped saw its sales dip 2.22 percent YoY to 36,814 units in March 2023 from 37,649 units sold in March 2022. It was followed by the TVS Apache with a 32.02 percent YoY growth to 36,226 units in the past month from 27,439 units sold in the same month a year ago. It was a 155.62 percent YoY growth for the TVS Raider of which the company sold 31,002 units in March 2023 from 12,128 units sold in March 2022. This was a difference of 18,874 units with the Raider commanding a 12.88 percent share on this list.
TVS Ntorq sales also improved by 14.52 percent YoY to 27,284 units in March 2023 but the highest percentage growth was seen for the TVS iQube that increased by 754.03 percent YoY. Sales of the iQube stood at 15,364 units in March 2023 from 1,799 units sold in March 2022. This was the 5th consecutive month that the iQube Electric has registered sales above 10,000 units.
TVS also posted YoY sales growth for the Sport (13,158 units) and Pep+ (8,330 units) by 14.06 percent and 38.28 percent respectively. However, thereafter, each of the models saw lower sales. Radeon sales dipped 14.39 percent to 8,186 units while Zest sales were down by 35.66 percent to 3,201 units. Star City sales fell by 66.31 percent to 1,931 units and RR310 fell by 13.68 percent to 410 units in March 2023.
TVS Exports dip in March 2023
Exports fell 31.18 percent in March 2023 to 64,591 units, down from 93,854 units exported in March 2022. This was a volume de-growth of 29,263 units. It was the TVS Star City 125 that topped the export list in March 2023 with 27,136 units shipped, down 22.92 percent from 35,206 units exported in March 2022. The Star City 125 currently commands a 42.01 percent share on this list.
Jupiter exports stood at 9,132 units with a 14.14 percent share. It was followed by the Ntorq with a 132.27 percent YoY growth to 5,370 units in March 2023, up from 2,312 units sold in March 2022. YoY exports dipped for the Apache (5,036 units) and Sport (3,855 units) by 51.28 percent and 23.42 percent respectively. Raider exports also fell by 52.20 percent YoY to 3,346 units in March 2023 from 7,000 units exported in March 2022.
TVS Wego exports were at 1,262 units while Victor also posted a YoY growth of 133.33 percent to 1,120 units from 480 units sold in March 2022. TVS XL exports were at 678 units while RR310 exports improved by 50 percent to 90 units from 60 units shipped in March 2022.