Even though TVS sold over 2.75 lakh units, motorcycle sales and total exports took a hit in both YoY and MoM sales
TVS Motor is one of the largest 2W maker around the world. For TVS, India is the biggest market and sales charts show positive growth here. It is in the exports where TVS reported decline. Motorcycles accounted for a total of 1,21,042 units sold last month. The highest selling motorcycles for TVS are Raider and Apache.
This wasn’t enough to beat 1,37,630 units sold a year ago and 1,24,705 units sold a month before. Hence TVS’ motorcycles registered a YoY decline of 12.05% and a MoM decline of 2.94%. The volume lost YoY stood at 16,588 and volume lost MoM stood at 3,663 units. Still, Motorcycles are TVS’ primary asset and despite losses, constitute 45.73% market share.
TVS Sales Jan 2023
Scooters scored good growth in comparison with Jupiter in lead. The YoY target of 80,580 and MoM target of 76,766 units was easily beaten as TVS scooters sold 1,06,537 units in January 2023. Scooters registered 32.21% YoY growth and 38.78% MoM growth and commanded a market share of 40.25% in India. 25,957 units were gained in volume YoY and 29,771 units MoM.
iQube has been a great success story for TVS, selling 12,169 units in Jan 2023. There is a massive 695% growth YoY and a decent 9.92% MoM growth. EVs have come a long way as iQube contributed 1,529 units in Jan 2022. TVS is currently the only moped maker in India and sold 37,131 units. Sales grew by 3.35% YoY and by 41.75% MoM.
All these accounts for the increment of total 2W sales in the domestic market at 2,16,471 units with 29.01% YoY growth and 34.15% MoM growth. Domestic sales for 2W account for 81.78%, while 2W exports account for 18.22%. Speaking of, TVS exported 48,239 units last month. There was a YoY decline of 44.13% and a MoM decline of 27.24%.
This affected the total 2W figure (domestic + exports) which stood at 2,64,710 units in January 2023. TVS saw positive growth of 4.16% YoY and 16.27% MoM. Total 2W volume gained was 10,751 units YoY and 37,044 units MoM.
TVS 3W Sales
Along with a 2W portfolio, TVS has an impressive 3W portfolio too. In the domestic market, TVS sold 1,620 3W vehicles. There was a gain of 42.73% YoY and 30.54% MoM and accounted for 15.57% of TVS’ total 3W sales. That said, TVS’ main markets for 3W are situated outside India as exports account for 84.43% of total 3W sales.
TVS shipped 8,785 3W vehicles and saw a 23.70% YoY decline and a 32.96% MoM decline. Due to this, total 3W sales (domestic + exports) took a hit and fell into the red completely. With 2,18,091 units, total domestic sales (2W + 3W) accounted for 79.27% market share and registered 29.10% YoY growth and 34.12% MoM growth.
Total exports were just 57,024 units and there was nothing to write home about. Despite a drop in exports, TVS’ total sales when domestic and exports are combined, stood at a grand 2,75,115 units. Gains registered were decent at 3.12% YoY and 13.68% MoM. Volume gained YoY was 8,327 units and volume gained MoM was 33,103 units.