TVS sales have dropped on YoY basis both in the domestic market and international markets
Due to the rise in petrol prices, electric vehicles demand is on the rise. This is reflected in the sales figures of established two wheeler manufacturers. If we take YoY growth and MoM growth, the Indian motorcycle industry has seen some dip in both domestic and export. Let us break down the sales figures of one of the biggest motorcycle manufacturers in India, TVS.
TVS Sales March 2022 Breakup
In the domestic market, TVS has a minor setback when we look at the YoY growth. With 2,02,155 units sold in March 2021 and 1,96,956 units sold in March 2022, TVS has a 2.57% decline. Except for TVS Sport, iQube and Apache 310, all the other models have seen dips in March 2022 when compared to March 2021.
Owing to the popularity of the electric vehicles, TVS iQube registered a staggering 406.76% YoY growth in March 2022 over March 2021. TVS iQube has seen a dip in sales of 19.62% in MoM growth. TVS Star City has seen a YoY growth of 30.87% and Apache 310 has seen YoY growth of 9.20% in March 2022 over March 2021.
TVS Jupiter remained their best seller with over 55k units sales. Jupiter sales dipped 2.44%, XL100 sales were down 15.75%, Apache motorcycle sales dipped 17.26%, NTorq was down 11.27%, Radeon dipped 11.25%, Pep+ dipped 23.88%, Star City dipped 9%, Zest dipped 12.04%.
When we look at the MoM growth of TVS scooters and motorcycles in March 2022 over February 2022, the company has performed well. Only the Raider 125 sales dipped 17.74% and Pep+ dipped 10.02%. Rest of the TVS two wheelers have seen growth in March 2022 over February 2022.
TVS Jupiter MoM sales grew 18.52%, XL grew 5.02%, Apache series grew 67.25%, NTorq grew 3.31%, Sport grew 66.78%, Radeon grew 2.53%, Star City grew 6.33%, Zest grew 8.34% and the RR310 grew 17.57%. When added up, TVS saw an MoM growth of a healthy 17.57% in March 2022 over February 2022.
TVS Exports March 2022 Breakup
Exports have dipped YoY at 9.02% in March 2022 over March 2021. TVS also discontinued the XL, Jupiter and Wego in the international markets in February 2022 further taking the sales down for TVS. The RR310 was the only vehicle to grow in YoY sales with 62.16% growth in March 2022 over March 2021. The rest of the models exported to international markets have sold very poorly in March 2022 over March 2021.
When we look at the MoM growth of TVS two wheelers in the international markets, there are only four models that have registered growth. Prominent among them is the Radeon with 128.57% MoM growth. Next in line are the Raider, Star City and Apache series with 83.25%, 3.19% and 0.40% MoM growth respectively.
TVS shipped out 1,03,154 units to international markets in March 2021 and 93,854 units in March 2022 registering a decline in YoY sales at 9.02%. TVS shipped out 93,014 units in February 2022 and 93,854 units in March 2022 registering a mere growth of MoM sales at 0.90%.
